Investment advice
Hello,
I need some opinions/advice/guidance in the following matter.
I am 68 yrs old and I have invested 40Lakh in various equities & 50Lalk in Equity based M/F’s since last 14 years.
Current market value is around 1.8crore & 1.6crore respectively & it may grow by 20% CAGR as per my assumption in the next 7 years and total market value may hit around 10crore mark.
I have a land property valued 3crore where I am planning to build a 5 floor residential apartment on it.
For this I need a fund around 2crores for construction & I am planning to raise funds from overdraft loans against my Equity shares & M/F at the rate 10.35%.approx .
I do not have any other source to raise the required funds as I am retired now and I do not have any other liabilities.
I am planning SWP of 10lacs every year to repay interest on OD.
I wish that I would be able to pay off any loans and OD WITHOUT having to sell any apartment/unit.
Will this be possible? Is there any other way?
I need some opinions/advice/guidance
Thanks
