_20240822235013_original_image_13.webp)
Financial independence is what everybody desires. Simply put, it essentially means you don't have to work for money; instead money works for you. It is a state where one need not worry about cash inflows and is free to follow one's dreams and passions.
Why do you need Financial Freedom?
Often, as we grow up, our interests and passions tend to get compromised as we enter life's rat race. The need for financial stability and shouldering life's responsibilities distance us from our passions. As a result we get into a life which we never desired for.
Interestingly, at the back of our mind we always endeavour to live a life which we desire - free from any financial burden. It is here that the need for Financial Freedom comes to the centre stage. Prima facie, it does seem like too good a situation -- probably not possible. But what if it turns out to be true!
What is Freedom SIP ?
It is here that ICICI Prudential Freedom SIP comes to your rescue if you are desirous of attaining financial independence. It is a solution-based investment tool and an enabler to get you financial freedom. Individuals who wish to retire early, follow their passion, start a new venture, travel the world and desire to do things which they always wanted to, may consider investment through Freedom SIP.
ICICI Prudential Freedom SIP is an add-on feature on a normal SIP. It has a fixed investment tenure which could be 8 years, 10 years, 12 years, 15 years, 20 years, 25 years or 30 years which investors must adhere to. Post the completion of the tenure, the investor gets a monthly payout (as decided by the investor or they get a default amount) which is in multiple of the original SIP amount. What needs to be highlighted here is that the longer the tenure, the higher is the multiplier effect on the systematic monthly payout post the SIP tenure.
How does Freedom SIP work ?
ICICI Prudential Freedom SIP is a combination of two powerful systematic investment tools — SIP and SWP. This makes Freedom SIP a very effective way to not only generate wealth but also harness the benefits of the accumulated wealth in a systematic manner.
Freedom SIP works in three stages which is a truly seamless and hassle-free process. In the first phase, investors accumulate units through SIP during the investment tenure while creating wealth. In the second stage post the tenure, the accumulated corpus in the source scheme is switched to a target scheme with a low risk profile. In the third stage, systematic withdrawal plan or SWP kicks off from the target scheme with liquidation of proportionate units to ensure there is secondary cash flows on a monthly basis. The inbuilt mechanism in Freedom SIP takes care of these transitions seamlessly while investors have a happy experience.
For instance, if the tenure chosen is 8 years, the default withdrawal amount will be equivalent to the SIP amount. As the tenure increases so does the withdrawal in multiples of the original SIP amount.
Thus, Freedom SIP aims to offer a happy and satisfactory investment experience to investors while fulfilling their goals and enabling them to have a secondary cash flow. It is needless to say that Freedom SIP is quite a practical investment solution to let investors enjoy Financial Freedom in a hassle-free and stress-free manner.
