Electricity of Rs 10,000: Targeted Rs 3 crore, Rs 5 crore or Rs 7 crore retirement corpus? Know how fast you can generate with an investment of Rs 10,000
10,000 rupees of electricity: Everyone wants to live a comfortable and stable post-retirement life, but only a few realize the importance of starting a retirement plan and investing ahead. This is because starting early can make your investment grow with plenty of time due to the forces of complexity.
To understand how to put you in three different situations, you invest a certain amount in a SIP mutual fund every month. Using the concept of compounding, we will calculate the time it takes to reach the goal.
However, before doing the calculation, let's first understand these three situations.
Plan 1: Your goal is to build a retirement corpus of Rs 3 crore with a monthly sip of Rs 10,000.
Plan 2: Your goal is to build a retirement corpus of Rs 5 crore with a monthly 10,000 rupees.
Plan 3: Your goal is to build a retirement corpus of Rs 7 crore with a monthly sip of Rs 10,000.
Now we will calculate the time it takes to retire the corpus of Rs 3 crore, Rs 5 crore and Rs 7 crore respectively, assuming a consistent monthly sip of Rs 10,000 with an average annual rate of return of 13%.
Rs 10,000 per month, how can you quickly generate a retirement corpus of Rs 3 crore?
If you want to build a retirement corpus of over Rs 3 crore with an investment of Rs 10,000 per month, you will need to invest in a SIP mutual fund for at least 29 years.
Production of corpus over Rs 3 crore in 29 years, Rs 10,000 per month: Calculate
- Total investment: Rs 34,80,000
- Estimated capital gains: Rs 2,96,94,246
- Overall library: Rs 3,31,74,246
Rs 10,000 per month, how can you quickly generate a retirement corpus of over Rs 5 crore?
The calculation shows that you will need to invest Rs 10,000 per month per month for at least 33 years to build a retirement corpus of over Rs 5 crore.
Production of corpus over Rs 5 crore in 33 years, Rs 10,000 per month: Calculate
- Total investment: Rs 39,60,000
- Estimated capital gains: Rs 5,07,51,924
- Overall library: Rs 5,47,11,924
Rs 10,000 per month, how can you quickly generate a retirement corpus of Rs 7 crore?
To build a retirement corpus of over Rs 7 crore, Rs 10,000 per month, you need to invest at least 35 years.
Production of over Rs 7 crore in 35 years, 10,000 per month sip: Calculate
- Total investment: Rs 42,00,000
- Estimated capital gains: Rs 6,59,34,918
- Overall library: Rs 7,01,34,918
(Disclaimer: Our calculations are forecasts, not investment advice. Do due diligence or consult a specialist for financial planning.)
