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What is the difference between a withdrawal plan and receiving income?
What is the difference between a withdrawal plan and receiving income?

How can I draw an income stream from my investment? What happens to the income received?

Mitchell Datson avatar
Written by Mitchell Datson
Updated over 11 months ago

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Regular withdrawal plans require the client to specify a dollar figure ($) to be paid monthly from their Professionally Managed Account (PMA) to the nominated bank account listed. Dependent on the size of the dollar figure specified InvestSMART may need to sell down investments to fulfil your request. Please be advised that if this is the case that brokerage will be incurred for the necessary transactions. 

Whereas, choosing your income setting to be "paid out" will see any distributions or dividends received from the underlying investments within the calendar month retained, accumulated and paid out in a single lump sum to your nominated bank account in the middle of the following calendar month.

If you've got an existing account with us and wish to check or amend your current settings for either options referenced above please find below two articles on the steps to take from here. 

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