Hi Srikanth,
I am retiring in next 12 months and approaching you for advise on deploying my savings for steady income during retirement.
I will have a corpus of Rs 60 lakhs which I would like to deploy in such a way that I get regular income via STP during my retired life at the same time keeping the corpus intact. In order to achieve this objective and as I will have no other source of income post retirement, kindly suggest ways to deploy this corpus.
From other goals perspective, I have some exposure to large cap equity mutual funds (Rs 20 lakhs) earmarked for Child's marriage 10 years from now. Child's education is covered, as well, via investments in PPF. I am well covered for Medical insurance and am also continuing contribution to PPF(current balance Rs 9 Lakhs) as a reserve fund with safety net in mind. I have a balance of 3 lakhs in Bank FD + Liquid funds for any immediate need.
Thank you.
RK
1 Answers
Dear RK ji,
It is SWP (Systematic Withdrawal Plan) and not STP.
It is a decent option, provided you are aware of the tax implications and risk factor (especially if investing in equity oriented plans).
You may use the calculator available in the retirement planning article.
Suggest you to kindly go through below articles ;
https://www.relakhs.com/lump-sum-investment-options-retirees/
https://www.relakhs.com/retirement-planning-calculator-3-easy-steps/
https://www.relakhs.com/calculate-kids-education-goal-amount/
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