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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
How can you achieve Rs 3 crore retirement corpus by investing Rs 35,000 monthly?
retirement corpus of Rs 3 crore in 25 years. The investor has started taking steps toward achieving his goals as he already contributes to the National Pension System (NPS) and now wants to allocate Rs 20,000 per month into mutual funds. But how should he go about it to reach his financial milestones?
According to Pankaj Mathpal, MD, Optima Money Managers, the investor is currently contributing in the employer-employee scheme, meaning the 10% he contributes from his salary and employer contributes 14% and right now, as he has been investing 15,000 per month.
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View Details» <div data-placement=«Mid Article Thumbnails» data-target_type=«mix» data-mode=«thumbnails-mid» style=«min-height:400px; margin-bottom:12px;» class=«wdt-taboola» id=«taboola-mid-article-thumbnails-119972543»>Assuming a 7% annual increment in salary and aligning his contributions accordingly, and factoring a 10% CAGR, his NPS investments could grow to approximately Rs 3.42 crore in 25 years.
This projection comfortably crosses his Rs 3 crore retirement target, due to the power of compounding and disciplined contributions. However, it's important to note that only 60% of the NPS corpus can be withdrawn as a lump sum at retirement; the remaining 40% must be used to purchase an annuity.
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In addition to NPS, the investor also plans to invest Rs 20,000 per month in mutual funds. Assuming a 12% CAGR, his SIP could generate Rs 45 lakh in 10 years, helping him meet his medium-term goal of Rs 20 lakh comfortably, with surplus funds for reinvestment.
If he
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