Question: I am 59 years old and will retire in one year . I need to get monthly income about 20000. What should I do. I have mutual funds and FDs .Should I put on a scheme where in monthly income is assured and if so what is the best plan?

              
Answer: To receive a monthly income of Rs 20,000 pm after 1 year and assuming a life expectancy of 85 years and a safe investment return of 8 % p.a., you need to have a corpus of ~ Rs 28.17 lakhs today. You may park the retirement corpus in short-term bond mutual fund schemes until your retirement.

            
Kindly click here to check out our article on Financial Planning for Retirees.

Warm Regards,

Expert @ InvestmentYogi