Hi Friends
Is it advisable to invest 5K or lumpsum (if i receive sudden surplus) each month SIP to MIP (Reliance MIP or HDFC Long Term MIP) and hold it for one year and then do STW (Systematic Withdrawal) for steady fix income each month?
This is what I thought the best way after reading some financial articles. I know the LTCG would be better so withdrawing after 1 year would make sense.
I have a disorganized fluctuating income and many times there could be rainy days which could last for many months even a year. I have passed through this phase so I know how horrible it is. So when the sun shines can I adopt this strategy? By this way, I don't have to worry for fix monthly income if i put a decent amount in MIPs.
Please criticize my thoughts if you feel so. I thought instead of FDs, this would be best way and my picks are Reliance MIP and HDFC Long Term MIPs.
Thanks again
Jeet
Is it advisable to invest 5K or lumpsum (if i receive sudden surplus) each month SIP to MIP (Reliance MIP or HDFC Long Term MIP) and hold it for one year and then do STW (Systematic Withdrawal) for steady fix income each month?
This is what I thought the best way after reading some financial articles. I know the LTCG would be better so withdrawing after 1 year would make sense.
I have a disorganized fluctuating income and many times there could be rainy days which could last for many months even a year. I have passed through this phase so I know how horrible it is. So when the sun shines can I adopt this strategy? By this way, I don't have to worry for fix monthly income if i put a decent amount in MIPs.
Please criticize my thoughts if you feel so. I thought instead of FDs, this would be best way and my picks are Reliance MIP and HDFC Long Term MIPs.
Thanks again
Jeet