What should be the retirement corpus we ought to look at?
3 years, 1 month ago

What should be the retirement corpus we ought to look at?

Live Mint  

I am 31-year-old and drawing a salary of approximately ₹65-70,000 per month. However, in case you wish to retire at 40 years, which means 9 more years of working, it means a principal savings of ₹48.88 lakh assuming the savings are increased every year by 10%. And assuming earnings rate at 12% and an opening corpus of ₹20 lakh, the accumulated total corpus becomes more than ₹1.30 crore at the age of 40 years. — Vikram Hardikar Assuming you continue with your monthly savings of ₹32,500 in mutual funds and taking PPF contribution of ₹1.5 lakh per annum and considering your existing investments of ₹37.5 lakh inclusive of your mutual fund investments, PPF and PF, the total corpus at an average earning rate of 10% comes close to ₹1.5 crore. In addition, you should plan to increase your monthly savings in mutual funds along with your increase in your monthly income.

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