Retirement Planning: Monthly savings Rs 15,000; in how many years can you achieve Rs 9 crore corpus goal?
Wondering how long will it take to reach Rs 9 crore corpus goal if your monthly savings are Rs 15,000? Let’s find out how the power of compounding and consistent investment strategy can help you build a large retirement corpus.
Planning for retirement is all about starting early, staying consistent, and letting compounding do its work. If you aim to build a big retirement corpus of Rs 9 crore, saving Rs 15,000 monthly could set you on the right track. But how long will it take? The answer lies in disciplined and consistent investment. Whether you’re in your 20s, 30s, or beyond, knowing the time it takes can help you plan better and stay motivated toward achieving financial goals. Let’s break down the calculations for better understanding.
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(Disclaimer: Our calculations are projections and not investment advice. Do your due diligence or consult an expert for financial planning)
Understanding retirement planning?
Retirement planning is a process in which an individual prepares for a good life after they are done with their job or business. Planning a retirement is important to maintain a standard of living and to avoid depending on others for financial support.
When should one start retirement planning?
There is no ideal time to start with retirement planning. But starting early can help your wealth grow over time with the effect of the power of compounding.
Retirement planning through mutual fund SIP
Investors can plan a retirement by investing in mutual fund(s) SIP scheme. They can invest a fixed amount at regular intervals such as daily, weekly, monthly, half-yearly, or yearly.
Benefits of retirement planning
Financial security
Peace of mind
Regular income after retirement
Steps to plan your retirement
Set retirement goals
Access your financial situation
Choose a suitable retirement plan
How soon can one achieve Rs 9 crore retirement corpus at 12 per cent annualised return with Rs 15,000 monthly SIP?
If you start investing at the age of 25, it will approximately take 35 years for investors to build a retirement corpus of Rs 9 crore with a monthly SIP of Rs 15,000.
Calculations of Rs 9 crore retirement corpus at 12 per cent annualised return with Rs 15,000 monthly SIP
Target retirement corpus: Rs 9 crore
Annualised return: 12 per cent (per annum)
Time period: 35 years
Estimated returns: Rs 9,11,29,036
Estimated returns: Rs 9,11,29,036
Let’s break down the calculations for better understanding.
What will be the retirement corpus of Rs 15,000 monthly SIP in 10 years with 12 per cent annualised return?
In 10 years, estimated capital gains will be Rs 16,85,086, and the estimated retirement corpus will be Rs 34,85,086.
What will be the retirement corpus of Rs 15,000 monthly SIP in 20 years with 12 per cent annualised return?
In 20 years, the estimated capital gains will be Rs 1,13,87,219, and the estimated retirement corpus will be Rs 1,49,87,219.
What will be the retirement corpus of Rs 15,000 monthly SIP in 30 years with 12 per cent annualised return?
In 30 years, estimated capital gains will be Rs 4,75,48,707, and the estimated retirement corpus will be Rs 5,29,48,707.
What will be the retirement corpus of Rs 15,000 monthly SIP in 35 years with 12 per cent annualised return?
In 35 years, one may reach its target goal of achieving Rs 9 crore corpus. During this time the estimated capital gains will be Rs 9,11,29,036, and the estimated retirement corpus will be roughly around Rs 9,74,29,036.