Everyone is concerned about himself and his family after he retires. You should begin planning now so that you do not face any financial difficulties after retirement. In such a case, you should invest in a location where your money is safe and your returns are high.
You can also invest in your own name
If you need 50 thousand rupees a month after retirement, start investing in the name of any family member as soon as possible, according to an estimate in the midst of rising daily inflation. You can also put money into your own name.
In this manner, a one-crore fund will be prepared.
At the moment, the average interest rate charged by banks is 5%. It is unlikely to fall any further in the near future. According to this, you should have a one-crore rupee fund with a monthly interest of fifty thousand rupees. This fund should be invested in through a systematic investment plan (SIP).
A 12 percent average return
For example, you are now 30 years old. At this time, start a SIP in your or a family member’s name for Rs 3500 per month. SIPs are expected to yield an annual return of around 12%.
The corpus will be Rs.1.25 crore.
You can invest Rs 12.60 lakh by making monthly deposits of Rs 3500 for 30 years. If you get a 12% annual return on this, you will have a fund of 1.23 crores at the end of 30 years.
A monthly salary of 50,000 rupees will be easy to come by.
If you calculate the interest at 5% per year on a fund worth Rs 1.23 crore, it comes to Rs 6 lakh per year. This way, you can easily earn 50,000 per month.
Best mutual funds and their returns
In recent years, SBI Small Cap Mutual Fund has provided returns of up to 20.04 percent. Nippon India Small Cap Mutual Fund Scheme, on the other hand, has returned 18.14 percent, while Invesco India Midcap Mutual Fund Scheme has returned 16.54 percent.
