A retirement is a necessity especially in India where only one-tenth of people above 60 years of age have income from pension or rent. Without a stable and sustainable income source beyond 60, a large proportion is compelled to continue working.
Shashank Jain of Balaji Investments opines that creating Rs one crore retirement nest-egg is easy. A 30-year old needs to invest just Rs 3,000 per month for 30 years to get to Rs one crore magic figure by 60 if returns grow at a reasonable 12 per cent. A 40-year old would require to do the same with Rs 10,000 per month for 20 years to reach Rs one crore. Mutual funds are the right investment option for every aspiring retiree.
A retirement mutual fund is the best way to prepare and increase wealth. Active fund management by experts ensures optimised use of investment money, irrespective of market mood.
Monday, 11 February 2019 | PNS | Dehradun
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