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Retirement: Have you reached 45 years of age and still not done any retirement planning? Try this method..

Indiaemploymentnews March 04, 2025 07:39 PM

It is said that the sooner you plan for retirement, the better it is. But sometimes people are not able to do so due to all the responsibilities. If something like this has happened to you too, then do not worry. Even if your age is around 45, you can easily accumulate a fund of crores by the age of 60. However, for this, you may need to work a little harder and be economical. Here know the way by which you can accumulate more than Rs 1.25 crore in just 15 years.

Know what you have to do.

To accumulate a fund of crores in 15 years, you have to start Step-up SIP. In this, you have to invest 30% of your income every month through SIP. You have to keep increasing the amount by 5% annually in your investment. In this way, you can accumulate more than Rs 1.25 crore by the age of 60.

Understand how to accumulate more than Rs 1.25 crore.

For this, you have to start investing with at least Rs 21,000. At the age of 45, you started investing Rs 21,000 every month in SIP and kept increasing the amount from time to time by applying a top-up of 5% every year. In this way, in 15 consecutive years, you will invest Rs 54,37,798. Whereas according to a 12 percent return, you will get Rs 75,63,492 on this. In this way, at the age of 60, you will own a total of Rs 1,30,01,290.

If you have a salary of 70,000, you can easily do this work.

Suppose at the age of 45 you earn Rs 70,000 per month, then 30% share will be Rs 21,000. In such a situation, you can easily do this work. At the same time, as your income will increase with time, applying an annual top-up of 5% will also not be a big deal. Keep in mind that SIP is a market-linked scheme, so there is no guaranteed return on it. Its return is market-based. Since the average return of SIP in the long term is considered to be 12%, hence the calculation here has been done on an estimated basis of 12%.

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