Pro
Related Posts
Why is the stock market bleeding today?
More Posts
Additional Posts in Tech India
Really loving Boys on Prime Video
I need a suggestion. For past 2 months am on bench in my current organisation.I want to switch back to Chennai since current company is Bangalore based.Everyone is expecting immediate joiner.no one is accepting the reason If I say am on bench and I can join immediately .Since my notice period is 2 months. , no one is accepting my profile
Chief
Frustrated by paying so much tax!
Is HARMAN really recruiting for permanent remote roles? Would they ask us to come to office after sometime? I am a bachelor woman supporting my sickly parents and can't move them out of city. And my city don't have harman office. HR did mention permanent remote, still want to confirm as I've heard many cases people were called back across different product based companies. Tata Consultancy IBM Infosys @HARMAN IBM Accenture Cognizant
New to Fishbowl?
unlock all discussions on Fishbowl.
Don't think about the max amount,
Think about your expenses.
Try to accumulate a amount which can give more than your per month expense.
Suppose you need 50k to survive now so mix it with 6% inflation per year and see how much it will be at the age of 55.
Then your corpus amount should generate your per month of expense in form of interests from FD, dividend returns, rental income from residential or commercial property,
If you have 10cr sitting in your savings account at the 55 then you may finish that amount in May be 5 years.
But if you can manage your money in such a way that you are getting 1 or 2 lakh per month even if the corpus is 5cr then you can retire without worries.
Pro
practical and valid thinking! thanks sir
Why would you plan for retirement at 55. If that's the case then you might not need much planning for it. Your PF would reach around 1c and ur basic savings could do it for the remaining years of your life.
Plan for retirement at 45 and aim for 5Cr to 10Cr. That's what I would call a better life.
Buy properties as much as u can
Pro
sounds like a good plan. thanks!
Always aim for 10C
Invest aggressively
lets say ur monthly expense right now is 30000 and u r 28 year old, then at the age of 55, ur expense would be around 240000 considering historical inflation rates in India.
Per annum expenses would be around 2880000
for next 10 years after 55 with further inflation, it would be around 4 cr plus consolidated.
if you live long, the 10 year amount keep on increasing, may be 8 cr plus from 65-75 age.
So at 55 ,you should have atleast 12 cr as per ur current monthly expense value.
But if you can accumulate 12 cr at age 40, u can retire asap.
Do all calculations acoordingly as per ur actual monthly exp right now.
and don't go into depression that how will u accumulate so big amount 😆
Mutual funds , ppf , nps , gold , equity , property are few of the options ...
You can go on any website with MF or PPF calculator and check how much SIP would be required to reach the goal
Pro
thanks for the input
How much is your inhand. How much are you investing out of it.?
Pro
80k in hand after deductions.
started with SIP worth 15k
no value is sufficient if you're trying to build it from your salary only because you'll need as much money as you can have as you don't know exactly how much you'll live after retirement. There isn't any upper limit.
It's different if you have huge inheritance or some family business that you're involved in, or you're married, and both of you earn upwards of 1cr+ combined in hand today.
You can't factor in exact inflation, emergencies, your moods or urges or aspirations at that time, or in between.
Live in present, save as much as possible, try to build alternate income other than job like rental,or ask and help wife to start some small business if she's not working and keep doing the job till you can.
Retiring early and not doing anything after retirement is not a luxury for us middle class and our future generations to come.
All these influencers are just doing click bait to increase their subscriber base to earn as much as possible.
Chief
puch to h aise rahe ho jaise sab ke sab 55 ke h idhar
Pro
bhai opinion le rha tha!