6 Retirement Plans for Indians Who Won't Live With Their Kids

7. How to turn your retirement corpus into monthly income: a short checklist

Step one: calculate a realistic monthly need that includes everyday costs, healthcare reserve, and a buffer for inflation. Use conservative estimates. Step two: divide savings into three buckets—short-term liquidity (6–12 months), medium-term income (3–7 years), and long-term growth. This reduces the pressure to sell growth assets in a downturn. Step three: pick at least two complementary income sources — for example, an annuity for essentials plus an SWP from balanced mutual funds for discretionary spending. Step four: stagger maturities and payouts so you always have money coming in; ladder FDs and align annuity start dates with your retirement month. Finally, review plans annually to adjust for inflation and health changes.