As long as one works he will not face any financial problems as he will get decent salary every month so there will be no worries. But after leaving the job, his salary stops, thus many people face financial problems in old age. It is for this reason that many people prefer to invest their money in various investment schemes while working to overcome financial problems after retirement. Not every type of investment is safe, only some investments give you credibility. One such reliable scheme is SIP. If you want to secure better returns then you can consider STP, which is a systematic withdrawal plan in SIP.
If you invest in this scheme you will get pension ie if you invest Rs.5000 every month in SIP for 20 years you will get Rs. 35,000 as pension. A Systematic Withdrawal Plan (SWP) is an investment where investors can decide when and how much they can withdraw from the scheme. Investors can withdraw money on daily, weekly, monthly, quarterly, 6 months or yearly basis. It is taxed just like equity and debt funds. If the investors keep their money in this scheme for not more than 12 months, the investors have to pay short term capital gains tax. Now let’s see how you can get such a huge amount as pension by investing just Rs.5000.
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– SIP up to 20 years
– Monthly SIP Rs 5000
– Tenure 20 years
– Estimated return 12%
– Net Worth Rs 50 Lakhs
– 50 lakhs invested in various projects
– Estimated return 8.5%
– Annual income Rs.4.25 lakhs
– Monthly income 4.25 lakhs/12 = Rs 35417
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