By starting retirement planning at the right time, you can accumulate funds worth crores of rupees and get a financially safe life. You can enjoy your retirement without any financial stress by following the right investment strategy at the age of 30, 40, 50. Let us tell you how you can start planning.

It is important to make a balanced investment

If you start planning at the age of 30, you will get the maximum benefit of compound interest. Whereas, it is important to make a balanced investment at the age of 40, along with this, at the age of 50, options with safe returns should be chosen to reduce the risk. It is important to make a scheme at the right time to fix financial security after retirement. Actually, many times people are not serious about retirement planning at the beginning of their career, but this should not be done. You should think about investment and savings at every age. So today we will tell you how you can do retirement planning according to the age of 30, 40, 50.

Current monthly expenditure 30 thousand rupees

If your current monthly expenditure is 30 thousand rupees and the inflation rate increases by an average of 5 percent annually, then by the time of your retirement, this total expenditure can increase to 1.33 lakh rupees per month. This means that in the first year of retirement you may need to spend about 16 lakh rupees annually. Whereas if your age is 80 years and the inflation rate remains at 5 percent, then the total retirement corpus should be around 5.3 crores.

SIP of 2 thousand rupees every month

If you are 30 years old, then start with a SIP of 2 thousand rupees every month and increase it by 10 percent every year. In this, the total will be 40 lakh rupees in a period of 30 years. In which, according to the estimated return, the value of your fund will be around 2.53 crores. Whereas after retirement, stop SIP and start SWP where you can withdraw Rs 1.33 lakh every month and this amount keeps increasing by 10 percent every year. With this scheme, you can save more than Rs 8 crore at the age of 80.

The fund value will become Rs 2.24 crore

If you start investing at the age of 40, then Balanced Advantage Fund can be a good option for you. That is, if you invest Rs 12 thousand per month in SIP and increase it by 10 percent every year, then after making this investment for 20 years, the total investment will become Rs 82.5 lakh. If you get an estimated return of 12 percent, then the fund value will become Rs 2.24 crore. After retirement, you can start withdrawing Rs 1.1 lakh every month through SWP. Which keeps increasing by 10 percent every year. With this, you will be able to meet your expenses till the age of 80.

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