For a person having Rs. 1 crore cash and no other property, is job security a concern?

Even at 8% interest rate on fixed deposit, annual income will be Rs. 8 lakh ( after tax deduction Rs. 7.1 Lakh).
Nearly Rs. 59,000 per month, which can be considered a decent salary(like in a job). Is there any flaw in this concept?
Govt. job provides job security. But involves unpredictable transfers .Net starting salary is around Rs.45,000 with 3% growth per year.
In the above concept , one can stay in a place stably and do a job such as teaching in a college.
Any flaw?

Income from the house property having 40%share.?

I have purchased a property where my share on the property is stated as 40% my wife 40% and my two son 10% each. The sons contribution however is not as stated. Now the property is likely to be given on rent. All four are tax payer.. Will the rent be divided as per the share of the property for the purpose of the tax..