2024-08-14 17:40:42
New Delhi: Mohit is a manager in a private company in Delhi. He is 35 years old. He is married and has a 5-year-old son. Mohit wants to retire at the age of 50. He wants to invest some part of his earnings in a place where he can not only create a big fund but also keep getting 50 thousand rupees every month after retirement. If you also think like Mohit, then we are telling you some such plan where you can fulfill your dreams by investing.
Even if you earn ₹25,000 a month, you can become a millionaire, know the method
How much to save
You should invest 10 to 20 percent of your salary every month. Suppose your salary is currently 50 thousand rupees per month. In such a situation, you will have to invest at least 10 thousand rupees every month. If the salary is not that much, then you will have to create other sources of income so that you can invest at least 10 thousand rupees every month.Invest here
You will have to invest 10 thousand rupees per month in mutual funds through SIP for 15 years. Since you want to retire after 15 years, so 15 years have been mentioned here. Keep one more thing in mind here. You have to increase the investment amount by 10 percent every year. This type of investment through SIP is called step-up SIP. If you invest 10 thousand rupees per month for one year, then from next year you will have to increase the amount by 10 percent i.e. invest 11 thousand rupees per month for one year. After one year, the amount will have to be increased by 10 percent again. That means now you will have to invest Rs 11,110 every month for one year. In this way, the amount will have to be invested for 15 years.
How much fund will be created
By investing in mutual funds through step-up SIP for 15 years, you can create a fund of around Rs 1 crore. It will be formed as follows:
This way you will get 50 thousand rupees per month
Withdraw this amount after 15 years. Invest half of this amount, i.e. Rs 50 lakh, in some other scheme or fulfill your needs at that time with Rs 50 lakh. Invest the remaining Rs 50 lakh again in mutual funds for SIP. Now you will have to invest Rs 50 lakh in lump sum, not every month. Suppose that after 15 years you will get 12 percent annual interest on this amount. This interest can also be more. In this case, you will get Rs 6 lakh every year from interest, i.e. Rs 50 thousand per month. In this case, your amount of Rs 50 lakh will remain intact and a big amount will also keep coming in your pocket every month.
Disclaimer: The suggestions given in this analysis are those of individual analysts or broking companies, not of NBT. We advise investors to consult certified experts before making any investment decision. As stock market conditions can change rapidly.