I am 59 years male generating a decent income every month, saving and investing as per my well planned retirement and travel plans. I will get around Rs. 1.10 Lakh as additional one time income next month. I will not need it for a long time (say at least for 10 years). I want to get an income of Rs. 3000 just only once in a year from this bulk money. That's all. Remaining may be let it to grow. Please advise me to invest it suitably. Ready to take moderate risk. Thanks in advance.

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!

Ans: Hello and thanks for writing to me. Please share for how long you wish to draw Rs.1 Lakh every month and other details like your risk appetite and other details for me to recommend you schemes.

Ans: Start with,
- Senior Citizen Savings Scheme
- LIC PMVVY

What you do with the remaining investment will completely depend on your risk profile & requirements. You can choose to do FD's, Corporate Bonds or SWP from Debt Mutual Funds