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How old is the average Retiree?
In India, the average retirement age continues to be 60, a stage where people are expected to give up work in favour of rest. However, with increasing financial uncertainty or to supplement one's savings, more retired individuals are opting for avenues that offer them a steady income after retirement.
The IDFC FIRST Bank MyFIRST Partner app fits the bill perfectly for retired people looking to utilise their network and time to earn extra money through referral programs. Using this refer and earn app, you can earn over ₹1,00,000 per month by referring loans and savings accounts to your network and acquaintances. In addition, you enjoy weekly payouts for every successful referral.
What are the challenges Retirees would face in earning money?
A retired person could find it tough to generate a passive income because of the following reasons:
- The present workplace framework places more emphasis on hiring and rewarding younger employees.
- Individuals who have retired for a few years might find it hard to go back to work and adapt to the rapid advancement in processes and technology.
- Health issues or problems with mobility might restrict retirees from delivering according to recruiters' expectations.
- Side gigs undertaken for passive income after retirement could be time-consuming and strenuous.
- Many retirees often cannot afford to set up their ventures because their retirement funds are only adequate for subsistence.
How to secure oneself post-retirement?
Financial security post-retirement is a two-pronged strategy. This means that saving or investing in pension funds is not enough to feel financially liberated as a retiree. Looking for ways to keep a decent flow of monthly income after retirement is essential. Some, especially early retirees, invest in learning new skills and switch to careers that they love.
If you want to keep it simple and make the best use of your time, the IDFC FIRST Bank MyFIRST Partner app offers a rewarding referral program. Perfect for people with a good network and a few hours every week, this side hustle offers a compensation rate that can help you secure yourself after retirement.
Why is a Referral Program the best side income for Retirees in India?
Whether you are looking for post-retirement investment options or want to support yourself and your family, the IDC FIRST Bank MyFIRST Partner program is ideal for many reasons. The first is the element of flexibility, thanks to which you will hardly ever feel the stress of a regular job.
You receive 1.5% commission on every successful referral and with weekly payouts, you don't have to wait an entire month to meet urgent expenses. The other advantages of this refer and earn app are the ‘uncapped earnings’ feature and surplus rewards for performing well.
What is the additional income a Retiree will earn through Referral Program?
The rewards and recognition programs as part of this referral program offer retirees a chance to supplement their earnings when they refer personal loans, business loans, used car loans, savings account etc. You can enjoy additional benefits through merchandise, gadgets, cash prizes and more by outperforming at the branch, zonal, regional, or national level.
And this isn't all: there is no cap on your income with the IDFC FIRST Bank MyFIRST Partner app. The more successful referrals you make, the more you earn.
How does an IDFC FIRST Bank MyFIRST Partner Program work?
You work with the IDFC FIRST Bank MyFIRST Partner app, looking for potential referrals, helping people apply for loans or open a savings account and finally assisting with a successful application. The work is straightforward. Simply look for leads among your friends, family or just about anyone in your circle who is in need of a loan.
An IDFC FIRST Bank MyFIRST Partner is someone who pitches loans and savings accounts to anyone in need and facilitates their onboarding process.
