DWQA User Profile juvinQuestions(3)Answers(0)Posts(0)CommentsDear Sreekanth ji,I specifically need your help in guiding me how to invest 170 lacs of final settlement for maximum monthly annuity/pension. Regards-Juvin On Answer for Retirement planningI now approach you with a request for help /guidance on some specific query related to my on going financial planning activity. Before that i will like to give a brief background1) I am aged 55 years, reside in Mumbai. My contract with present employer ends in Dec-18 after which i do not intend to work and am planning an early retirement.2) Towards retirement i am trying to work out a financial plan which should see me well set for my sunset years and not burden my near and dear ones.3) My family consists of spouse (housewife), daughter aged 25 yrs (independent & working) and son aged 19 yrs (engg student 2nd year). I have already ear marked and invested separately in MF's the amounts required for my sons graduation, masters (if he decides to pursue) and marriage as well as daughters marriage.4) Apart from my employer's health policy , i had already invested sufficient amount in Health Insurance for entire family. Both myself and spouse are covered under a common restoration policy of Future Generalli for 40 lacs and each child for 6 lacs. And beyond that we have a Family floater for 10 lacs between all 4 of us. Total amount i pay annually for all health policies is about Rs 70,000/-.5) I also have some long term LIC and Birla ULIP's whose PPT is currently going on and for which i invest annually Rs 7 lacs. These will mature from 2026 onwards upto 2032. Just to add here, these policies will yield a maturity amount of about Rs 160 lacs in 2027 and Rs 22 lacs in 2032. PPT for these will end as follows: 6 lacs in 2026 and 1 lacs in 2032.6) My total household expenses on an annualized basis is about Rs 22 lacs. Of this Rs 7 lacs is monthly annualized, Rs 8 lacs is annual expenses such as excursions, college fees, clothing, health & car insurances, festival time expenses,etc, and Rs 7 lacs is the annual insurance investments (mentioned in point 5) which will stop majorly in 2026.6) I have no loans pending and reside in self-owned residence without any liability.6) My Final settlement with employer (including PF, Gratuity, leave encashments , etc) will give me about Rs 170 lacs and a monthly pension of Rs 20,000/- for life.With above background, i seek your advise on how i can plan my fund allocation so that i do not eat out of my retirement corpus and erode the amount . On the contrary i want to grow this above inflation at all times..and also get a get a good monthly pension yield. I hear a lot about SWP's as a big crutch for retired people ...am not aware how this works to meet my objectives .......and am also toying with the idea of keeping a part of corpus in Pvt Co FD's (spread over a few good ones with AAA ratings) for a reasonable return of 9% . Am also open to Postal scheme but they have a top limit.Many thoughts but no clear direction. Hence , here i seek your help for a better holistic financial planning with some definite direction on distribution of the corpus.Please advise, and in case you need any additional details please let me know.with kind regards,Juvin. On Retirement planningCrop
