Retirement planning: It is very important to do retirement planning. The first step in this planning is to decide how much money you will need to run your life smoothly after retirement.
To a young person thinking or talking about retirement may seem awkward, but the truth is that the sooner you start planning and implementing retirement, the bigger the corpus you will have at retirement. .
It is not necessary that a person wants to retire at the age of 60. Now the youth are thinking of retirement at the age of 45. Therefore, if you do not have any financial problems after retirement, then you should invest thoughtfully from now on. Personal finance experts believe that investing in mutual funds is beneficial for this.
Retirement planning Continuous investment:
According to a report in Live Mint, if a person is now 30 years old and wants to retire at the age of 45, then he will need to invest more than now, because after retirement he will have to spend many years with his savings. . Not only this, he will also have to spend for the education of the children.
So for all this, he will have to invest a lot now. He should start Monthly Investment for long term in Mutual Fund. Investment will have to be made continuously and the investment amount will also have to be increased over time.
Create retirement planning fund like this:
After retirement, you will have to make a lot of efforts to get a pension of Rs 2 lakh per month. Asset Manager’s managing partner Surya Bhatia told Live Mint that for this, there has to be continuity in investment as well as investment amount will also have to be increased over time. If you save Rs 30000 every month for the next 33 years, then you will have a total fund of Rs 1.2 crore.
If we add 9 per cent growth to this, then it comes to a total of Rs 7.4 crore. If we calculate it month by month, it comes to Rs 3.7 lakh at 6 per cent withdrawal rate. If inflation is considered even 6 percent, then this Rs 3.7 lakh will be equal to Rs 54000 in today’s time. This means that we have to keep increasing our savings.
