The journey to financial freedom is built on disciplined investments and smart financial planning. The ICICI Prudential Freedom SIP emerges as a unique tool in this journey, designed to help individuals build wealth steadily and then enjoy a stream of secondary income to support their dreams and aspirations.
Core Concept
The ICICI Prudential Freedom SIP is a systematic investment plan (SIP) with an added layer of automation and flexibility. It allows you to invest a fixed amount regularly in a chosen mutual fund scheme for a pre-defined period. Once this SIP tenure is complete, your accumulated investments are automatically switched to a target scheme of your choice. From this target scheme, you can then initiate a systematic withdrawal plan (SWP) to receive regular payouts, essentially creating a secondary source of income. For example, a ₹10,000 monthly SIP for 30 years could potentially yield an SWP of ₹1.2 lakh oer month.
How It Works
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Esta historia es de la edición September 2024 de Outlook Money.
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