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Individuals need to plan their retirement so as not to be dependent on their next generation after retirement.

Retirement is a stage of life when you stop to work for money and your money starts to work for you. Retirement plans are a definitive way of ensuring that your current lifestyle is maintained years after you stop working. Average life spans are steadily increasing. This means that average retirement years are also on the rise.

Example: Power of Compounding 

By investing Rs. 10,000/month (SIP) @ the age of 25, one can create a Corpus of Rs. 5.51 Cr (assuming 12% CAGR) at 60 Years of age.

By investing Rs. 10,000/month (SIP) @ the age of 30, one can create a Corpus of Rs. 3.08 Cr (assuming 12% CAGR) at 60 Years of age.

By investing Rs. 10,000/month (SIP) @ the age of 35, one can create a Corpus of Rs. 1.7 Cr (assuming 12% CAGR) at 60 Years of age.

Choose your Investment age wisely, else you'll have to increase your Amount of Investment to reach the same goal.