Everyone dreams of having a substantial nest egg when they retire. In fact, it is important to have more than a substantial amount of money as there are contingencies, emergencies, acts of God, and other unforeseeable circumstances that can cause a drain on your resources. It is better to be prepared than to be left floundering at a later stage of your life.
In today’s blog episode, we will take a look at the amount of money a person needs to invest monthly, in order to set aside Rs. 10 crore on retirement. The Financial Express shared an interesting account that we will build on and develop over here.
One of the means by which you can set aside Rs. 10 crores is to do so by investing in mutual funds through SIPs. You can invest in mutual funds, and calculate your returns with the help of a sip calculator. This calculator is a very good free tool that can help you gauge your returns and plan financially.
Here’s how you can get started on your investment journey.
If you are 25 years of age, you will need to invest approximately Rs. 15,396 to get Rs. 10 crore at retirement age of 60 assuming a 12% return. There are plenty of mutual funds which have given returns of more than 12% in the last 15 years. Hence getting in touch with a mutual fund agent like Money Assist can help you to understand which avenues to invest in. Moreover, you can use a SIP calculator to help you with the calculation process.
If you are 30 years of age, you will need to invest approximately Rs. 28,329 to reach the sum of INR 10 crores. Assuming a rate of 12% in the mutual fund returns you can start investing as soon as possible.
If you are 35 years of age, you will need to invest Rs 52,697 in monthly SIP to reach a sum of Rs. 10 crores. Make use of the sip calculator and plan your investments wisely.
A SIP calculator is a useful tool by far. It’s simple to use and easy to understand. The calculator can be used to calculate your returns on investment in mutual funds.
Investing in mutual funds is not an easy task, as most people will testify. It requires careful planning, study, and understanding of the various offerings before you start investing, Choose to invest with Money Assist, mutual fund agent today.
