Retirement Planning: Can FD Income and Property Assets Sustain Siblings?

A 34-year-old man and his 39-year-old sister, who is physically challenged, are planning for retirement.

They have ₹1 crore in savings, mostly in fixed deposits, and their annual expenses are ₹7 lakh.

They also own property worth ₹3 crore, which brings in ₹1.5 lakh annually.

They want to know if they can retire comfortably using the interest from their savings and property income.

An expert advises that relying solely on fixed deposits might not be enough because inflation will increase their expenses over time.

Instead, the expert suggests keeping some money in fixed deposits for emergencies and investing the rest in equity mutual funds.

This way, their money can grow faster and last longer.

The expert also recommends getting health insurance and setting up a will with a trustee for the sister.

Additionally, the man plans to start online consultations to earn extra income.