Retirement Planning: Saving Rs 50 Every Day Can Help You Accumulate Crores Till Retirement
Investing in young age is important to accumulate a good amount for retirement. By investing just Rs 50 every day through mutual funds’ SIP, one can accumulate crores of rupees by the age of retirement.
Investing Through SIP from Class 10
If you start investing from class 10, saving Rs 50 per day can be a good option. This means Rs 1,500 every month can be deposited in mutual funds. According to calculations, if this amount is invested for 45 years or till the retirement age of 60 years, a person can deposit a huge amount of Rs 3.32 crore, with an annual return of 12%. If the return remains 10%, then the deposit amount by the age of 60 will be Rs 1.5 crore.
Investing After Class 12
If you start investing through SIP after class 12, and your age is between 17 to 19 years, Rs 1,500 every month can accumulate Rs 1.78 crore at 12% return till the age of 40 years. At an annual return of 10 percent, Rs 95 lakh can be collected till the age of 60 years. For risk-free investment, one can invest in government schemes like PPF NSC.
Disclaimer: Investing in the market is subject to market risks. Always take expert advice before investing money, and it is never advised to invest money without proper research.
Investing in mutual funds’ SIP can be a good option for retirement planning. Start investing early, even with small amounts, to accumulate a good amount by the age of retirement.
