Ms. Ralana's plan to liquidate shares from her mutual fund to receive $500 each month is referred to as what?

The scenario describes Ms. Ralana's intention to withdraw a consistent amount of $500 each month from her mutual fund. This strategy is characterized as a fixed dollar withdrawal plan. This type of plan allows investors to withdraw a predetermined dollar amount at regular intervals, in this case, monthly, which provides a reliable stream of income while drawing down their investment.

In contrast, a variable dollar withdrawal plan would involve changing the amount withdrawn based on certain factors, such as mutual fund performance or changing financial needs. A systematic investment plan refers to a method of investing a fixed amount into a mutual fund at regular intervals, which is the opposite of withdrawing funds. An automatic reinvestment plan involves reinvesting dividends or capital gains back into the mutual fund rather than withdrawing them, which does not align with the monthly withdrawal goal described in the question.