Plan for a Bright Retirement with SIP.
Retirement planning is critical, and it’s especially important to get started early and correctly
Sujat
Congratulations on your first job! It’s a great time to kickstart your retirement savings journey.
Swarup
Why begin now? Retirement is still more than 30 years down the road
Swarup
Let me savor life for now. I’ll consider investing more when I’m older.
Sujat
Why not enjoy life and plan for retirement together?
Swarup
Why does it matter if I begin later?
Sujat
If you kick off investing when you’re young, your money has more time to grow. Thanks to compounding, the longer you invest, the faster your wealth multiplies.
Swarup
All right. I’ll begin investing now.
Sujat
Kickstart with a single SIP for retirement. It’s a smart way to handle market ups and downs effectively.”
Sujat
Planning for retirement now is the wise move. Last-minute plans rarely succeed, just like many things in life.
Swarup:
Appreciate the advice. I’m starting my SIPs without delay.
Sujat
Remember, consistency and discipline with your retirement SIP are key
Swarup
No worries. I’m committed to it
Sujat
Yes. SIP Sahi Hai
To maintain a comfortable lifestyle post-retirement, it’s crucial to plan for the future. If your current monthly expenses are Rs 1 lakh and you’re a decade away from retiring, projecting for a 5% inflation rate, your expenses could be around Rs 1.6 lakhs per month in ten years.
Assuming your post-retirement costs are 70% of pre-retirement expenses, you might need a monthly budget of Rs 1.1 lakhs. To generate this income at an 8% return on investment, you would require a corpus of Rs 1.7 Crores. This estimate doesn’t consider factors like inflation and taxes.
Considering a retired life spanning 25 to 30 years, with a 5% inflation rate, a more comprehensive retirement corpus would be in the range of Rs 2.5 – 2.7 Crores. This ensures financial independence throughout your retirement years.”
Systematic Investment Plans
Mutual fund systematic investment plan (SIP) is one of the best ways to invest for retirement planning. Through SIP, you can invest in a mutual fund scheme of your choice, based on your investment needs and risk appetite, from your regular monthly savings through auto-debit from your savings bank account. SIP can be a disciplined way of investing because it will make you control your spending habits and invest regularly. SIPs in equity mutual fund schemes also average the cost of your purchase (Rupee Cost Averaging) by taking advantage of stock market volatility.
If your age is 30, if you are planning to retire at the age of 60, if your desire Retirement corpus 3 crores, suppose your expected earning 12% per annum.
Monthly SIP investment required – Rs. 8,498
Some fund list Of Solutions Oriented fund
SBI Retirement Benefit Fund – Aggressive Plan – Regular Plan – Growth
Inception :10th Feb 2021Fund Size:
₹ 1891.64 Cr
HDFC Retirement Savings Fund – Equity Plan – Regular Plan- Growth
Inception :26th December 2016Fund Size:
₹ 4036.24 Cr
Tata Retirement Savings Fund – Regular Plan – Progressive Plan – Growth
Inception :1st November 2011Fund Size:
₹ 1631.19 Cr
Nippon India Retirement Fund – Wealth Creation Scheme – Growth
Inception: 11th February 2015Fund Size:
₹ 2713.6 Cr
Disclaimers:
An investor education initiative By Findola Wealth Research Team.
This article is generated and published by Findola Wealth Research Team.
Investment in securities market are subject to market risks, read all the related documents carefully before investing.
This article is for information purposes only and is not meant to influence your investment decisions. It should not be treated as a mutual fund recommendation or advice to make an investment decision in the above-mentioned schemes.
