Retirement Planning - Stocks v/s MF v/s FD

#1
I know a person who is going to retire in 2.5 years.
Risk appetite: Low
Market knowledge: Low
Over the past 2 decades, this person had made some very small investments in purchasing about 8-10 scrips. These small purchases are now valued at Rs. 24 lakhs. The problem is that there is just one scrip HDFC Ltd. which has a weightage of 14 lakhs in this persons portfolio.

What is the best way to re-balance this portfolio?
1. Do nothing for now since the market is off its peak. Wait for 2.5 years and liquidate this scrip slowly and convert to FDs.

2. Liquidate this scrip slowly and purchase other scrips. Which ones to purchase?

3. Liquidate this scrip slowly and start SIPs in MF. Again, which MFs?

Considering that this person is single, has no significant liabilities or assets, and this would be the nest egg, what would be the best possible investment vehicle to provide a steady stream of income?
 

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