I started investing in my from 1998 with jardine Fleming tax saving , Return of that scheme was awesome and I continued although very rerely till 2005 , But at that time it was not on the basis of need but randomly in HDFc mid cap ,HDFCT top 100 ,Franklin Prima plus DSP small and Mid Reliance equity opportunities and JM finance small cap , In 2013 stated regularly in Mirae large and Mid and SBI small cap , beside tax saving of DSP Tax and Sundaram Tax In 2016 switched all to small and mid direct except Mirae emerging blue chip , In 2019 invested 70% of retirement corpus in staggered manner from Dec 2019 to sept 2023 Now No SIP and only 20 lac for emergency in SB Did some switches in Dec to now to rebalance and still Small cap amount to 50% The corpus is now more than 5 crore with investment of around 1 crore and overall returned were more than 20% per anum , Since returns were more than my exactions , I want to quit , which is best option to invest as now I do not want to apply any mind , wife will retire this so only want to enjoy as only one child do not want anything from me
Ans: It sounds like you've had a successful investment journey over the years, achieving impressive returns and building a substantial corpus. Given your desire to enjoy your retirement without actively managing investments and with your wife retiring soon, here are some considerations:
Shift to Conservative Investments: At this stage, capital preservation becomes crucial. Consider shifting a significant portion of your portfolio from equity-oriented funds to more conservative options like debt funds or fixed deposits. This will provide stability and regular income.
Dividend Option: If you're looking for regular income, opt for the dividend payout option in mutual funds. This can provide you with a regular income stream without selling your investments.
Systematic Withdrawal Plan (SWP): Instead of withdrawing a lump sum, consider setting up an SWP. This allows you to withdraw a fixed amount regularly, ensuring a steady income while keeping your investments intact.
Health and Insurance: Ensure you have adequate health insurance coverage, given the rising healthcare costs. Also, consider a comprehensive insurance plan to safeguard your family's financial future.
Estate Planning: Review your will and estate planning documents to ensure they reflect your current wishes and provide for your family's future.
Professional Guidance: Even if you wish to be hands-off with your investments, it's advisable to consult with a Certified Financial Planner. They can help you restructure your portfolio, ensure tax efficiency, and provide peace of mind.
Lastly, congratulations on achieving your financial goals and building a substantial corpus. Now is the time to enjoy the fruits of your hard work and prudent investment decisions. Focus on spending quality time with your loved ones, pursuing hobbies, and enjoying your well-deserved retirement.
