I am 72 and do not receive any pension. I would like to supplement my current income with investments to ensure a better future after few years. Kindly suggest a few mutual funds that will help me gain more income after a few years.
It is inspiring to come across a 72-year old interested in mutual funds. We presume your current income is regular and the investment income will be in addition to this. We suggest you invest in equity-oriented hybrid funds such as Birla Sun Life 95, HDFC Balanced or Reliance Regular Savings Balanced fund. However, make sure you invest in these not all at the same time. After a few years, when you need to augment your existing income source, you can create a systematic withdrawal plan (SWP) from these funds for the income that you seek.