Saving money is very important in today’s market. If you want to live a happy retirement life then you must start saving now. But before that, you need to calculate how much money is needed for a worry-free retirement. Suppose you need 1 Crore rupees for retirement, how can you save that much? Let’s look into the investment options.
Plan your retirement with Rs 1 Cr
In today’s market, several investment options are available. One of the good options is the Systematic Investment Plan or SIP. You can get 10-14% returns easily with SIP or mutual funds. So How much do you need to invest and for how long? Let’s look into the calculations.
Get 1 Crore before 50 Years at with 10% SIP
If you invest Rs 10,000 every month from 27 Years age then investing for 22.5 years than at the age of 49.5 You would have invested Rs 27 Lakh in SIP. If the average of return stay 10% then interest and investment will become Rs 1.02 Crore.
Get 1 Crore with 12% SIP
If you invest Rs 10,000 every month in an SIP which gives an average of 12% returns every year. Then it will take 20 years to become Rs 1 Cr. If you start at the age of 30 then when you reach 50 years age you will have invested 24 lakh in total. Which will give you Returns of 76 lakhs totaling Rs 1 Cr in Total Returns.
Get 1 Crore with 14% SIP
If you Invest Rs 10,000 every month for 18.5 Years at 14% then you will get Rs 1 Crore in returns. The total amount invested will be Rs 22.2 Lakhs and returns will be Rs 83 Lakh, totaling 1.05 Cr.
** Mutual Funds and SIPs are subject to market risk. You should carefully read all scheme-related documents carefully.
