Planning a Rs 10 crore retirement corpus? Know the mutual fund SIP amount you need
See how your starting age can dramatically change the monthly SIP needed to build a Rs 10 crore retirement corpus by age 60, assuming a 12% annual return.
Planning a retirement corpus of Rs 10 crore by the age of 60 requires a specific mutual fund SIP investment amount depending on when you begin investing. According to the Wealth Conversations Report by FundsIndia, if you start investing at the young age of 20 with an expected 12% rate of return, you would only need to invest Rs 8,416 per month.
Delaying your investment by five years to the age of 25 increases the required monthly SIP investment to Rs 15,000. If you start investing at 30, you'd need to invest Rs 28,000 monthly, six times the amount needed if you began at 20. Further delaying to start at 40 would require an even larger monthly investment of Rs 1 lakh. Starting at the age of 55 would necessitate the highest monthly SIP investment of Rs 12 lakh to reach a retirement corpus of Rs 10 crore.
Written by urgent.news from The Economic Times - Top News's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
