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Smart Money: How to achieve Rs 10 crore investment goal in 20 years
This episode of ‘Smart Money’ put together a step-by-step guide on how one can achieve Rs 10 crore investment goal in 20 years with the right investments, a good amount of time spent in the market, and the right asset allocation strategy.
This episode of ‘Smart Money’ put together a step-by-step guide on how one can achieve a Rs 10 crore investment goal in 20 years with the right investments, a good amount of time spent in the market, and the right asset allocation strategy. Also if you have not started your investment journey till the age of 35, is it still an achievable target?
According, to Mohit Gang, CEO of Moneyfront Rs 10 crore is a target that anyone planning to retire in approximately two to two-and-a-half decades should set their sights on.
Achieving this financial milestone not only ensures a comfortable retirement but also allows for an annual withdrawal equivalent to Rs 75,000 in today's terms.
Let's break down the strategy for individuals in their early 30s who have approximately 25 to 30 years left until retirement. Gang proposed a practical approach: initiating a systematic investment plan (SIP) with a monthly contribution of Rs 25,000. Under the assumption of a 12 percent annual return, maintaining this disciplined SIP for 32 years will lead to a corpus of Rs 10 crore.
Watch the video for more.
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