Want an income of ₹70,000 every month after leaving the job? Know how SWP can help

If you want an income of ₹70,000 every month even after leaving the job, then SWP (Systematic Withdrawal Plan) can be a great way. With this plan, you can get fixed returns even without working. With the right funds and investment amount, you can create a stable and secure income.

The decision to quit a job is not easy. Especially when your monthly income stops. But what if you earn ₹70,000 every month even without working? Yes, this is possible and for this you do not need any business or job. All you need is a little smart financial planning. In this story, we will tell you how you can create your own 'Monthly Salary System' through Systematic Withdrawal Plan (SWP) - that too without tension.

How much do you need for a year?

If you want to withdraw ₹70,000 per month (₹8.4 lakhs per year) for just one year and hope to start working again in a year, then you will have to invest around ₹1.2 crore for this. This is the belief of Vidya Bala, co-founder of PrimeInvestor.in. This estimate has been made on the basis of 7% annual return and inflation has not been included in it.

If you just want to withdraw money?

If your aim is to withdraw only ₹70,000 every month, then you can park the amount of ₹9 lakh in a savings or deposit scheme and withdraw money every month for a year.

If you do not want to work again?

If you do not want to work again and want to live a life like a retiree, then according to experts,

Inflation: 4.5%
Return on Corpus: 7.5%
Lifespan: 80 years

Assuming this, you will need about ₹1.8 crores so that you can get regular income with rising inflation.

Which funds to invest in?

Experts suggest that you can create regular cash flow through SWP by taking a combination of short duration debt funds and equity savings funds.

Why is SWP a good option?

You get a fixed amount every month. The principal (corpus) lasts for a long time. Tax can also be saved and this method is beneficial at the time of retirement or break.

If you want to live comfortably even after leaving the job and need income every month, then SWP is a smart method. You just need the right amount, the right fund and a little patience. With this plan you can balance your life without any stress.