Hello sir..i wish to invest 50 lacks and expect a monthly income of 35000 .i am 48 and have other sources of Rs 20000.. please advise
Ans: Hello Rajshekhar,
Thank you for reaching out to me for advice on your investment plan. As a financial advisor, I understand your desire to invest 50 lakhs and generate a monthly income of 35,000 rupees. It's great that you have other sources of income amounting to 20,000 rupees per month.
Firstly, I would like to suggest that you diversify your investment portfolio across different asset classes, such as equity, debt, and gold, to minimize risk and maximize returns. While there are several investment options available in the market, I recommend considering SWPs (Systematic Withdrawal Plans) on mutual funds as an option to generate monthly income.
SWPs provide a steady stream of income while allowing you to keep your invested capital intact. They work by allowing you to withdraw a fixed amount from your mutual fund investment periodically. The withdrawal amount is based on the performance of the mutual fund and can be adjusted based on your income requirements.
It's important to note that while mutual funds can provide good returns over the long-term, they come with a certain level of risk. Therefore, it's crucial to invest in mutual funds that match your risk profile and financial goals.
I hope this advice helps you in planning your investments and achieving your financial goals. Good luck with your investment journey!