My Age is 40 and my salry is 27000/- pm and saving per month is hardly 6000-7000.
I want monthly 20000/- something monthly income after 55 age. Currently, I am investing in following funds started just last month
1. HDFC Low Duration ( G) Rs. 2000
2. ICICI Pru Asset Alloc ( G) Rs. 2000
3. Mirae Asset Midcap (G) Rs 2000/-
Kindly suggest should i continue or change anything.
Ans: To create corpus better invest in equity oriented funds and then post 15 years switch them to debt and hybrid – balanced advantage
Rs 6000 monthly investment can create a corpus of Rs 33 lakh to Rs 35 lakh; below schemes can be considered: Rs. 2000 each for 15 years
a) UTI Flexi Cap – Growth
b) Parag Parikh Flexi- Cap Growth
c) DSP Mid Cap Fund – Growth
Post 15 years when you are 55, shift the above investment to (in equal proportion i.e. Rs. 11 to 12 lakh)
1) Aditya Birla Corporate Bond fund – Growth
2) HDFC Banking and PSU fund – Growth
3) ICICI Pru Balanced Advantage fund - Growth
Then do a SWP of Rs. 6700 for each of the 3 funds for monthly Rs. 20000 requirements
