How to reach your retirement goal?
Let us take scenarios from previous
table to see sample results-
This table is an excellent proof of
importance of starting investing at a young age.
Please note that the monthly SIP
amount is increasing @10% every year. Thus, 1 lakh monthly SIP will double to 2
lakh SIP in approximately 7 years.
Also, current savings column is
assumed savings as of today, and is invested in an instrument giving you 18%
annual return. The monthly SIP instrument also gives you an average annual
return of 18%.
Now, you will be able to understand
the value of an indexed pension of a government servant with medical cover till
the end of life.
Hope this series addresses all your
queries on retirement corpus required, how you can reduce the required corpus
and what you need to do to achieve the same.
Happy investing!
Sorce:Equitymaster.com
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