Fund query: How to use SWPs for post-retirement expenses
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I am an NRI and have accumulated ₹1.5 crore through SIPs over the last 10 years. I am 61 years old and plan to settle in India after I retire, one year from now. I hold ICICI Prudential Equity & Debt, Invesco India Contra Fund, Tata Multicap, ICICI Prudential Balanced Advantage and Mirae Asset Emerging Bluechip. If I were to use a Systematic Withdrawal Plan (SWP) from these funds to generate an income of ₹30,000 a month, do I need to change my mix of funds? Do I need to keep more in debt funds as the market is volatile? Should I do SWPs from one fund or many? I would also like my income to grow 6 per cent a year. What are the tax implications?
Letters to the Editor January 18, 2021
January 18, 2021 00:02 IST
Updated:
January 18, 2021 00:02 IST
Updated:
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Vaccine drive, day 1
The vaccination drive has taken off with fanfare, with the Prime Minister backing the safety and efficacy of the vaccines.
The jury is still out on the vaccines and it is nigh impossible to issue a guarantee certificate. The vaccines will speak for themselves and people will come forward on their own volition. But what could go wrong ought to be emphasised so that people do not panic.
Deepak Singhal,
Noida, Uttar Pradesh
It is encouraging that health workers at all levels are stepping forward to get themselves vaccinated, which will go a long way in tackling vaccine hesitancy. When COVID-19 surfaced, taking everyone unawares, it was health workers who toiled hard, risking their lives to battle it out. The nation should gratefully acknowledge their contributions.