It's great that your cousin has paid off their home loan by age 35 and is investing 30% (₹45,000 of ₹1,50,000) of his income for retirement. He is using additional tax exemption under Section 80CCD with ₹50,000 invested in the NPS. His goal is to accumulate ₹5 crore for retirement by age 60, leaving 25 years to invest.
With a ₹45,000 SIP and 12% returns from equity MFs, he will reach ₹8.5 crore. From the NPS, with ₹50,000 annually and 10% returns, the estimated corpus is ₹54 lakh. Note that 60% of the NPS corpus can be withdrawn as a lump sum, with the remaining 40% required to be invested in an annuity.
Denne historien er fra December 19, 2024-utgaven av Mint Ahmedabad.
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Denne historien er fra December 19, 2024-utgaven av Mint Ahmedabad.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Cricket stories that read like tales told in a pub
Glenn Maxwell's book, 'The Showman', with Adam Collins, is chaotic, flashy and straightforward but not necessarily engaging
Include pantos on your holiday to-do list
If holiday travels take you to Britain, indulge in vibrance of the pantomime
A new play weaves a story of love, longing and deceit
A new play by Amitesh Grover speaks of grief through the story of a woman who can make clay figurines come alive
Can the Xi-Trump 'bromance' be revived? Else, ties may fray
Cordiality between the two leaders would favour both countries
An image makeover for palm oil would be good for us
The ecological impact of this affordable oil is lower and health benefits greater than often portrayed
Refrain from judicial overreach: It'll strengthen India's judiciary
The suo motu powers of courts are essential to secure justice and the public interest but their overuse can have adverse results
Services led exports are a mixed blessing for us
Even as we celebrate India's emergence as a services-led economy, with our service exports strong and their prospects bright amid rising trade flux, we must look beyond the numbers
South Korea's political drama was worthy of applause
Its lawmakers were bravely joined by others to reject martial law and uphold democratic institutions
Market losses and mistakes are two completely different things
A loss needn't be a mistake. What matters is whether the process of taking the decision was right
THE ROAD TO BETTER WEALTH MANAGEMENT STARTS WITH A CONSOLIDATED VIEW
Today's speed of digital spending and investing could lead to unthoughtful, costly mistakes
