The ultimate goal of every investor is wealth accumulation to fund future needs. With the corpus created, you can ensure an additional stream of income for yourself and your family. If you have a large sum of money to invest, the plans that can give you the highest returns are mutual funds or ULIPs. However, given the high-risk profile of such market-linked investments, many Indians prefer to stick to safer options viz. FD or traditional guaranteed savings plans.Read more
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If you have Rs. 15 Lakhs to invest for a monthly income, you should first think about the returns you expect in the future. How much income would you need on a monthly basis to fulfill your goals? Factor in the rate of inflation as well. Ideally, your goal should be to maximize this amount to be at par with inflation. Savings alone will not help you with it. The best way to go about would be to park these 15 lakhs in different investment vehicles to enjoy consistent returns that can beat inflation.
Not every individual can risk betting such a huge sum of money on market-linked funds. As such, debt funds or a mix of debt and equity securities known as hybrid funds are available to those with a low-risk appetite. Fixed deposit schemes have also always been popular for those looking for guaranteed income.
However, for those who are willing to take some risk to enjoy higher returns, you would do well to consider mutual funds, unit-linked insurance plans, etc.
Let’s look at all the different options where you can invest Rs. 15 lakhs for a monthly income.
Mutual funds allow you to invest in the money market and stocks, shares, and equities of companies. These are very high-risk investments and you stand a chance to lose money if the funds do not perform well. If, however, the market booms you will enjoy very high returns on the 15 Lakhs invested.
You can use the mutual fund calculator to estimate the returns on your lump sum investment of Rs. 15 Lakhs. As an example, say that you made a one time investment of Rs. 15 Lakhs in a mutual fund of your choice with an expected 8% rate of return per year. If you stay invested for a period of 20 years, your sum will have grown to Rs. 69.9 Lakhs.
These come with insurance protection for the policyholder along with investment in market-linked funds such as debt and equity funds. Investors have the option to choose between multiple fund options based on their appetite for risk. Another key advantage of ULIPs is that you can switch between funds if you see that some are not performing well enough.
The accumulated fund value along with market-linked returns is payable to the policyholder on maturity. One can either choose to receive a lump sum payout or as monthly income.
The ULIP calculator offers you insights into the returns you can expect by investing in such plans. For instance, if you divide your 15 lakhs into yearly investments of Rs. 1.5 Lakhs for 10 years, you can get Rs. 50.7 lakhs at the end of 20 years. Alternatively, if you make a one-time investment of Rs. 15 lakhs and stay invested for 20 years, the fund value may increase to Rs. 69.9 Lakhs. This is subject to market performance.
Pension plans are retirement planning avenues that come with a life cover and savings and investment benefits based on the type of plan chosen. You can choose to receive the accumulated sum as monthly income to fund your retirement needs. Based on what your long-term goals are, you could either pick (a) retirement ULIPs that invest in market funds and earn high returns or (b) traditional annuity plans that come with life cover and guaranteed pension.
Another option is to invest the sum of 15 lakhs for monthly income in traditional savings plans that offer guaranteed annuities every month for life. There are no risks involved. You will get the value of your investment back in the form of pension or income with additional returns in the form of bonuses. Couple that with life insurance benefits and you will have covered all the bases to protect your loved ones in case of financial emergencies.
Let’s look at an example. You have 15 lakhs to invest in a pension plan to get a monthly income. Assuming that you are 30 years old and you want your pension to start after 10 years. If you choose an annuity plan, your investment of 15 lakhs will give you a monthly income of around Rs. 12,000 till the time of your death.
If your goal is to finance your child’s education or their future needs, you could look at child plans that offer these 3 benefits -
If the parent of the child dies within the policy term, the family receives the death benefit amount in a lump sum payout, which can be used for the child’s future.
On the death of the parent, all the due premiums are paid off by the insurer. This ensures that the plan keeps accumulating returns from the market-linked funds till the end of the policy term.
The child receives a monthly income starting from the date of death of the parent till the end of the policy term.
You can invest the whole of Rs. 15 lakhs in an FD account. The sum will earn interest at the rate of 5-6% compounded annually. The final sum can be withdrawn by you at the end of the FD tenure.
Here is a sample illustration of FD returns. A fixed deposit of Rs. 15 lakhs for a tenure of 20 years will earn you approximately Rs. 34.6 Lakhs in interest. This is assuming the rate of interest to be around 6%. The final sum that you will have should be around Rs. 49.6 Lakhs.
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