Everyone does retirement planning. Some people want to retire at the age of 60, while some people want to retire even before that. But have you ever thought of retiring in the next 10 years? Yes, if you want, you can retire in just 10 years, but for that, you have to invest by planning. Now the question arises how much money should be invested every month? Let's understand this in detail.

If you are thinking of retiring in the next 10 years, then here it is important to understand first that for how many years to come you are planning a pension. The younger you want to retire, the bigger the corpus you will need. Let's assume that you are 40 years old and want to retire at the age of 50. At the same time, you want to get a pension of Rs 50 thousand every month after retirement.

If you want a pension of Rs 50 thousand, then for this you will need a corpus of about Rs 75 lakh. In such a situation, if you invest Rs 23,000 every month from your salary in mutual funds under Step Up SIP, then you will get an average interest of 12 percent in 10 years. Keep in mind, that in this type of SIP, you have to increase your investment by 10 percent every year. In this way, in 10 years you will have a corpus of about Rs 77 lakh.

This will be possible with a Systematic Withdrawal Plan.
Systematic Withdrawal Plan (SWP) is a facility through which you can withdraw money regularly from your mutual fund investment. SWP gives you regular income, i.e. money. If you invest in mutual funds with a little planning, then you can retire early and after that, you can spend your whole life comfortably while getting a hefty pension.

Understand the whole math of getting a pension of 50 thousand.
At the age of 50, you will have a corpus of Rs 77 lakh and you can retire. Let us assume that you want to get a pension till the age of at least 80 years. If you withdraw Rs 50,000 every month under SWP for 30 years and you keep getting an average return of 12 percent, then you will have around Rs 7.8 crore saved even at the age of 80. In this way, you can start planning to retire in the next 10 years by investing just Rs 23,000.