I retired from Army Medical Corps a year before and get a pension of Rs 96000/- per month (Rs 80,000 per month post TDS) which is adequate for my day to day expenses . I also work as a consultant for a PSU on tenure basis since retirement ( 2 years tenure left) and get a monthly consultancy fees of Rs 1,06,000 (Rs 94000/- post TDS) . My spouse is also working (IIT Professor) with about 10 years left for her retirement. Our only child (son) is pursuing PhD abroad and is financially independent as of now.
I have retirement benefits worth Rs 60 lakhs which I wish to invest in Mutual Fund MIP with good return, at least some capital appreciation and low to moderate risk. The MIP proceeds are proposed to be invested in a basket of SIP for the balance period of my tenure with PSU consultancy. I have my own house and do not foresee any major capital expenditure till 2020.
What is your advise. I do not have any personal financial consultant.
2 Answers
Dear Sir,
If I understand your query correctly, you would like to first invest in Mutual Fund MIP plan(s) and then after some period to time, you would like to set up SIPs in few MF schemes..
My questions are;
For how long you would like to remain invested in MIP Fund(s)?
What type of funds would like to consider for setting up SIPs? And the time-frame for the same??
(or) Are you referring to STP (Systematic Transfer plan) from MF MIP (Growth) schemes to Equity Funds?
Hi,
Based on your investment objective(s), suggest you to set up SWP (Systematic Withdrawal Plan) in an MIP (Conservative or aggressive plan) and then can re-invest based on your requirements to Equity funds.
You may consider higher allocation to Balanced equity funds.
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https://www.relakhs.com/best-monthly-income-plans-india-mutual-funds/
https://www.relakhs.com/best-balanced-mutual-fund-schemes-review/
https://www.relakhs.com/best-mutual-fund-schemes-2017/
https://www.relakhs.com/best-mutual-fund-scheme-risk-ratios/
https://www.relakhs.com/list-of-best-investment-options-schemes-in-india/
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I can remain invested in MIP fund indefinitely ( in any case more than 3 years) but like to have a monthly/quarterly income through either dividend/ systemic withdrawal . I intend investing in pure growth SIPs immediately after receipt of first income from mutual fund MIP . Say if my investment in mutual fund MIP is able to generate a net monthly income of Rs 40,000 /- ( @ 8%) then I can have 4 SIPs of Rs 10, 000/- each . I intend staying invested in SIPs for 3 years or more to take advantage of long term capital gains/indexation.
I am not referring to STP from mutual fund MIP (Growth) to equities as I have no appetite for selling /liquidating equities and in fact very poor at it.