I am a 75-year old senior citizen and have Rs 50 lakh invested in ICICI Prudential Balance fund. I have instructed for an STP of Rs 20,000 from this fund for my monthly expenses. Please advise if this is the right approach to investing in retirement?
Vasudevan Nair
You have invested in a good balanced fund which has a proven track record and performance history to go by. If this is the only retirement income stream that you are dependent on – it is a risky proposition, as with every withdrawal you will be eating into the corpus that you have as well. However, if this is one of your investments, you should stay invested in this fund and use stable growth objective to grow your investments with low volatility.
