ESSENCE OF SIP AND SWP
Systematic investment plan and systematic withdrawal plan. Introduce discipline and balance in financial life
During the accumulation phase, you spend a part of your earnings and regularly invest the rest
In retirement, you withdraw only what you need and let the balance corpus grow in the market
The key is to save enough each month so that you are able to build a large enough corpus that will last throughout your retired years
Withdrawal via SWP is also tax efficient