Whether a person doing a private job or a government job, everyone is worried about the future of himself and his family. The provision of pension has been abolished in the recruitments made after 2004 in government jobs. In such a situation, it is wise to plan for post-retirement from today itself.
New Delhi: Be it a person doing a private job or a government job, everyone is worried about the future of himself and his family. The provision of pension has been abolished in the recruitments made after 2004 in government jobs. In such a situation, it is wise to plan for post-retirement from today itself. For this, start investing from now on.
Deposit money every month in wife’s name
Inflation is increasing every day, so it is important that you arrange for interest or income of at least Rs 1 lakh a month for the post-retirement period. After retirement, start depositing some money every month in the name of the wife to make a living with an income of Rs 1 lakh.
The average interest rate of banks is 5 percent
The interest rate is running at the lowest level. The average interest rate of banks is 5 percent. It is not likely to go down in the near future. According to this, you should have a corpus of 2.40 crores for an interest of Rs 1 lakh every month. To build this fund at the time of retirement, SIP is currently the best investment option.
Average return of 15 percent
Suppose you are 30 years old. So start a SIP of at least Rs 3500 a month in the name of the wife. Looking at the record of the last 10 years, many SIPs have given an average return of 15 percent. Taking this return as the basis, further calculations will be done.
Invest Rs 3500 every month
By investing Rs 3500 every month for 30 years, you invest Rs 12.60 lakh. On this, if you get an average return of 15 percent every year, then on completion of 30 years, this amount will be close to Rs 2 crore 45 lakh. Interest on this amount is 5 percent per annum plus interest of more than Rs 1 lakh every month.
Best Mutual Funds of 10 Years on Refund Basis and Their Returns
1. SBI Small Cap Mutual Fund : 20.04 percent
2. Nippon India Small Cap Mutual Fund Scheme : 18.14 percent
3. Invesco India Midcap Mutual Fund Scheme : 16.54 percent
4. Kotak Emerging Equity Mutual Fund Scheme : 15.95 percent
5. DSP Midcap Mutual Fund Scheme: 15.27 percent
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