Retirement : 90 percent of the people who retire in India are dependent on their savings. So, what plan do you have for your retirement?
Have you started trying to save now or are you planning for it? The age of retirement in India is usually 60 years. In such a situation, if you are 40 years old, then you have to prepare your plan according to the expected inflation of the next 20 years, so that you can easily spend your time even after retirement. For a better retirement plan you have to take many things into consideration. We are giving tips to get two crores on your retirement.
Plan savings like this
Let’s say your monthly income is 40 thousand rupees. Out of this, you pay Rs 10,000. Apart from this, households also contribute Rs 10,000 in expenses. A child’s education costs Rs 5000. About 10 thousand rupees are also spent on going to office and other expenses. In this case, you have Rs 5000 left to invest. If you invest this amount in a mutual fund through SIP till retirement, that is 20 years, then you will easily accumulate Rs 2.62 crore. Here the return on investment is calculated at the rate of 10 per cent. This amount can be much more than this because you can get better returns over the long term.
Monthly expenses will increase three times
The way inflation is increasing, in the coming days the cost of the month is also to increase. As long as there is a job and there is good salary, there is not much worry about it but after retirement it will be difficult to keep expenses. If inflation rises to an average of 6 percent, then after 25 years the current expenditure will more than double. That is, if you spend 25 thousand now, it will be 75 thousand rupees after 25 years.
Start investing early.
If you have not started investing for retirement planning yet, don’t delay now. If you start investing early, you will be able to easily deposit funds for retirement. You will not even need a large amount of money for investment. You will easily plan and raise the desired amount.
Make 25 times larger than current income
Financial experts say that for retirement, after retirement, one should create a retirement fund (corpus) 25 times larger than their current income. For this, it is necessary to start investing from the age of 30 by planning for retirement. If one starts investing at the age of 30, saving 25 to 35 percent of their income, then they will easily make a corpus 25 times larger than their current income in the next 25 years. From
Why planning is important
After retirement, your life should be full of enthusiasm and peaceful. If your retirement planning is not right, then you will not be able to live these golden moments properly. Therefore, it is important that you take some time for retirement planning in working moments of your life. Following the above mentioned things, your post-retirement life will definitely be cut with peace.
Keep these things in mind
, prepare the plan in five steps, set
your target
, evaluate the current financial situation
, identify your risk potential, know the
investment options
, change the portfolio from time to time.
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