What is Systematic Withdrawal Plan(SWP)?
Introduction: In the realm of financial investments, achieving economic independence is a shared aspiration. As one accumulates wealth through diligent savings and investments, it is equally crucial to possess the knowledge and strategy to efficiently access and manage those investments. This is where Systematic Withdrawal Plans (SWPs) come into play – a prudent and systematic approach to gain returns on investments while securing a reliable income source. In this article, we will delve into the core concepts of SWPs, their workings, and how they empower individuals to seize control of their financial future. Understanding Systematic Withdrawal Plans (SWPs): Systematic Withdrawal Plan (SWP) is a financial mechanism that enables investors to systematically withdraw funds from their mutual fund investments. Essentially, it functions as the reverse of a Systematic Investment Plan (SIP) where, instead of making regular investments, individuals schedule periodic withdrawals. SWP...