Home Business You can retire as a millionaire at the age of 45, you...

You can retire as a millionaire at the age of 45, you have to save only Rs 177 daily, know how?

11
0


New Delhi: SIP in Mutual Funds: Why wait till retirement to become a millionaire, nowadays the trend is of early retirement. The present-day young generation is very much aware of savings and retirement planning, they do not want to work till the age of 60 years, but want to collect enough money for 45 or 50 years to leave their jobs and enjoy the rest of their lives comfortably. Cut it.

How to become a millionaire at the age of 45

If this is your thinking too, then you should start investing in mutual funds from today and now, because with traditional small savings schemes you cannot achieve your aggressive goals, for this you will have to bear a bit of risk. If you want to retire at the age of 45 instead of 60, then you also need a higher return on investment, for this, equity mutual funds can be a better option. Because when you are young, you can take more risk too.

read this also- Big relief for SBI customers! No need to go to branch for KYC, e-mail will be done

If you want to collect a corpus of 1 crore or 2 crore rupees at the age of 45 or 50, then you have to do two things.

1. You have to start investing at the age of 20-30 years
2. With increasing income, investment will also have to be increased.

When you are young, you have more ability to take risk. Most of us start jobs or earning at the age of 20. You can start a SIP in mutual funds from the same age at Rs 500 only. Keep increasing it slowly. Since this will be a long-term investment, you will not be affected by the ups and downs of the stock market. Equity mutual funds usually provide returns of 12-15% in the long term.

Example number 1

So let us tell you that if you have started SIP at the age of 25 and have targeted to achieve Rs 1 crore at the age of 45, then you have to invest Rs 11,000 a month in SIP, that is, Rs 367 a day. Will have to be saved and invested. Suppose you get an average return of 12% in this 20-year period.

Age 25 years
45 years of retirement
Investment Period 20 years
Monthly investment Rs 11,000
Estimated Return 12%
Investment amount 26.4 lakh rupees
Total Returns Rs 83.50 Lakhs
Total amount 1.09 crore rupees

Example number 2

Suppose you are 30 years old and want to retire at the age of 45, then you have to deposit 663 rupees a day, ie 19900 rupees a month in SIP. So when you are 45 years old, you will have an amount of 1 crore rupees in your hands. Now since you are starting to invest in 30 years instead of 25 years, then your investment amount has also almost doubled but the final amount is only 1 crore rupees. The late you start, the less you will get the benefit of compounding.

Age 30 years
45 years of retirement
Investment Period 15 years
Monthly investment Rs 19,900
Estimated Return 12%
Investment Amount Rs. 35.82 Lakh
Total Returns Rs 64.59 Lakhs
Total amount 1 crore rupees

Example number 3

Now suppose what happens if you start investing at just 20 years old. In such a situation, you will have a long time of 25 years to invest, you will be able to enjoy the benefits of compounding fiercely. To get Rs 1 crore at the age of 45, you have to do a monthly SIP of Rs 5300, which means that you will have to save Rs 177 daily. That is, the longer you spend, the more money you will have to spend to achieve your goal.

Age 20 years
45 years of retirement
Investment Period 25 years
Monthly investment Rs 5300
Estimated Return 12%
Investment amount 15.90 lakh rupees
Total Returns Rs 84.67 Lakh
Total amount 1 crore rupees

read this also- GST Return: Government gives big relief to businessmen, late fees will not be levied on filing GST returns late!

LIVE TV

.



Source link