How to Plan your retirement: Do you do a job and are you also worried about your retirement? Have you thought how you can become financially strong after retirement? Many people plan for retirement well in advance. But first you should know which plan is best for you. The wisdom is that from the beginning of the job, you should invest a little bit for retirement.
Are you working and also worried about your retirement? Have you thought how you can become financially strong after retirement? Many people plan for retirement well in advance. But first you should know which plan is best for you. The wisdom is that from the beginning of the job, you should invest a little bit for retirement. So that in old age you can accumulate a huge amount. Today we have brought one such formula for you. By investing in which you can deposit five crore rupees on your retirement.
What is this formula of Rs 442?
This formula will prove to be the best for those who have just started their job. Let us assume that you are starting investment from the age of 25. That is, you save Rs 442 every day from your salary and invest in NPS. That is, in a month you will have to invest Rs 13,260. You will have to invest Rs 13,260 every month for 35 consecutive years. If you are investing continuously till the age of 60 years, then at the time of retirement you will have collected about five crore rupees including interest. Let’s assume that you are getting 10 percent interest on your investment, then under compounding interest, your money will also increase.
Will get the benefit of the power of compounding
After investing continuously for 35 years, your total investment amount will be Rs.56,70,200. This amount of Rs 56,70,200 of yours becomes an amount of more than five crores with the power of compounding. That is, out of five crores, you will get Rs 4.55 crores as interest. When NPS matures after the age of 60 years, then you can withdraw only 60 percent of the amount. In this also you will get an amount of Rs 3 crore. After this, by investing the remaining two crore rupees in an annuity plan, you can get a fixed amount for the whole life.
