What to do when we retire with all our investments?
What to do once I retire? Let's say my mutual funds investments have become 1.5 cr now and I have reached retirement age. I have an own house and car, but now no more monthly income so what to do with my investment now? make an FD and pay tax on interest amount and remaining amount as my monthly salary or any other better options kindly suggest.
Just like you have an SIP, there's an SWP for retired folks. Hire a financial planner to draw up a plan for your SWP and then take it from there
So all the accumulated portfolio stop existing SIP and sta have to start a SWP is it? will that attract incometax also?
Not income tax but capital gains tax. There might have to be some reallocation between asset classes to better suit your new risk profile and lifestyle expenses
Following. I think people go with swp on low risk mutual funds and or generate passive income from rental properties etc
I don't want to go for rental properties, if any other option pls do suggest. Rental properties if the tenant is a headache then only source of income will become difficult