UNDERSTANDING RETIREMENT NEEDS
Is Rs 1 crore enough to retire comfortably? To accumulate Rs 1 crore, you need to invest Rs 15,000 a month for the next 15 years in an instrument that earns 15 percent returns. Now, this monthly investment could go up if the investment earns a lower return or when the time to reach this goal is shorter than 15 years. However, savings towards retirement is not about how much money you accumulate, it is about how much income you will draw from the retirement savings to manage your retired life.
This story is from the October 03, 2022 edition of India Today.
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This story is from the October 03, 2022 edition of India Today.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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