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Mutual Fund Calculator for Retirement Planning


Mutual Fund Calculator for Retirement Planning

The wisest decision you can take is to prepare for your retirement in advance. Since you have worked hard throughout your career you should prepare just as well for the golden years.

One of the ways you can prepare for your retirement is by using a mutual fund calculator to estimate your returns from the mutual fund investment.

In this blog, we will discuss how much you need for retirement and how much to save and invest. Check it out over here only!

How Much Do You Need For Retirement?

Many people make a mistake by assuming that most of their expenses will go away after retirement. This is erroneous and false!

Research shows that around 70-80% of the expenses remain even after retirement. While you may not be taking care of children or aged parents anymore, or even clearing loans, you will certainly be having to shell out for food, and other miscellaneous expenses.

Moreover, you will have to keep in mind the current inflation rate. Inflation certainly makes the cost of living go up with every passing year. This makes the monthly expenses rise.

To counter this, you will have to ensure that you have a proper financial corpus in mutual funds or other investment vehicles.

But why mutual funds?

Choose mutual funds primarily for the higher returns they afford when compared to fixed deposits or other money-making instruments.

That’s why post-retirement you will need a corpus to take care of monthly expenses, medical or other emergencies. Experts estimate that you will need around 2-2.7 crores to maintain financial independence. For this reason, you can use our mutual fund calculator to help you decide how much to invest and what are the returns.

How Much To Save And Invest?

If you want to save for your retirement given that you will need 2.7 crores to maintain a proper life, you will need to save around Rs. 1.5 lakhs in a month. This may seem like a very daunting challenge ahead of you, but it is achievable with mutual funds and the 8% returns. Hence, make use of a mutual fund calculator to decide how much you need to invest and the returns you are likely to get.

Conclusion

So, in conclusion, utilise a mutual fund calculator from Money Assist and you can choose to plan your retirement with it. In case you are unsure of how to invest in mutual funds, you can always approach a mutual fund agent like Money Assist. We will help you with portfolio planning so that you can have a comfortable retired life. So what are you waiting for? Get in touch with Money Assist today!