If you also work in the private sector, then this news can prove to be useful for you. In the era of rising inflation, everyone should plan for their tomorrow i.e. future. Everyone dreams of living a luxurious life in old age.
If you also want that you do not have any shortage of money in retirement, then today we are going to tell you such an investment method through which you can raise a fund of crores for retirement. Let’s know how…
To decide how much percentage of one’s current salary one should save for retirement, one needs to consider several factors such as one’s current income, risk appetite, and most importantly – time. How much time you have until retirement greatly impacts your investment strategy. That is what we are going to discuss today. ..
How do people invest these days?
Suppose you are early in your career and you start saving at the age of 20. At this time, you have the opportunity to reap the benefits of investing in the long term. At this time, you can make more risky investments, such as stocks and mutual funds, which usually give better returns over time. But if you start building retirement savings at the age of 40, you need to be more cautious. At this time, you need to focus on safe and stable investments to protect your capital and get stable returns, so that you can avoid market volatility as you approach retirement.
How much to invest to save Rs 1 crore?
When your goal is to create a fund of Rs 1 crore for retirement, it is very important to have the right investment options based on their past returns. Mutual funds are one of them. Now the question arises how much should you invest every month to achieve your retirement goal.
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If you want to create a retirement fund of Rs 1 crore in 30 years, then investing in mutual funds can be a good option. Mutual funds have historically given an average return of 12% every year. For this, you will have to start a systematic investment plan.
How will the investment increase?
Monthly investment: Rs 3,000 Estimated return: 12% Total investment in 30 years: Rs 10,80,000 Total funds on maturity: Rs 1,05,89,741 Total interest: Rs 95,09,741
If you invest Rs 3,000 every month in a mutual fund scheme that gives a return of 12 per cent, you can accumulate a fund of over Rs 1 crore, helping you comfortably achieve your retirement goal.
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