Long term has a very serious meaning for people who are close to retirement. They really need to have a long-term orientation. You should have a short-term orientation for your income requirement.

Let's assume that somebody is 50 years old and he has been able to accumulate Rs 50 lakh as his retirement corpus. If he retires at 60 and moves his entire capital to fixed income, the capital will remain constant and he will start consuming the income.

It is more important for a person at 50, who will retire in 10 years time, to take a long-term view with the money from which you don't intend to derive income. You should be investing in a vehicle which is a mix of equity and bonds and if you are able to withdraw only 4-5 per cent annualy, there is a possibility that the capital will grow.

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