Further to the article of 10 ways to generate regular income, I have following scenario for financial planning to get regular income of ~Rs.15000 pm after 5 yrs from today:
1. I invest Rs. 18000 pm in NSC for next 5 yrs
2. If there are 2 members at home, then I invest Rs. 900000 in MIS.
After 5 yrs, per month, I will start getting ~Rs. 27000 from NSC & I keep on getting ~Rs. 6000 from MIS. I continue to reinvest Rs. 18000 from NSC that gets matured. Thus, I get an income of ~Rs. 9000 from NSC + ~Rs. 6000 from MIS, thus a regular income of ~Rs. 15000 pm.
As both the schemes are run by govt, thus are having very low risk but the ROI is also less and is not going to be tax free. Also, depending on the capacity of each person & members at home, the amount(s) may change.
Overall, I would like to know can this option be a good way for regular income or not?