Plan Your Retirement With a Monthly Income Scheme

In the world of finance, there is usually a lot more to most financial products or tools than their names let on, from mutual funds to stock markets and derivatives. This is also the case with slightly low-profile tools such as monthly income plans, or MIPs. To the ears of the novice investor, a monthly income scheme might sound like some low-risk investment tool, such as a fixed deposit which provides investors with returns in the form of regular dividends, thus ensuring a recurrent income for the depositor. While this isn’t all the way wrong, there are also other nuances to consider, which are mentioned below.