After 30 years, for a pension of Rs 1 lakh, one will have to invest in SIP of mutual funds. SIP can be started with Rs 2200 per month. Later, with the increase in income, the amount of SIP will have to be increased every year.
You can raise huge amount from Mutual Fund Sip
Rohit is 30 years old and he is already preparing for retirement fund or pension. Rohit is of the view that when he retires at the age of 60, a pension of Rs 1 lakh should come in his account. Rohit is in this dilemma, where and how to invest so that the dream of 1 lakh pension is fulfilled. For this, they meet tax experts and give their point of view. Tax experts advise that this amount of pension can be found by investing in mutual funds. But only mutual funds will not be enough. Rohit also has to take systematic investment plan of mutual fund ie SIP. If you invest every month through SIP, then a pension of Rs 1 lakh is not a big deal.
It is generally seen that a person wants to take pension after retirement for the same number of years as he earns. In this way, Rohit is now 30 years old and will retire in 60 years after working for the next 30 years. Then for the next 30 years i.e. till the age of 90, they will need a pension of 1 lakh rupees every month. Rohit has only 30 years left for saving and during this time he cannot collect so much money to get a pension of Rs 1 lakh later. Therefore, they are advised to proceed through mutual fund SIP only. With the help of SIP, you can get returns beating inflation.
Remember the 15-15-15 Rule
For this better return, Rohit should remember the 15-15-15 rule of mutual funds. In this, there is a rule of 15% return on investment of 15 years. Rohit is ready to invest for 30 years, so he will not face any difficulty in getting at least 15 percent return on SIP of mutual funds. For this, Rohit will have to keep increasing his investment in SIP along with his income growth. If the investment in SIP is increased continuously, then it becomes easy to achieve big goals even in a short period of time. If Rohit wants to get Rs 2.76 crore in 30 years, then he must increase the SIP by 10% every year.
2.79 crore will be collected in 30 years
Looking at 30 years of investment, 15% return and 10% increase in SIP every year, Rohit will easily get a pension of 1 lakh if he starts SIP with Rs 2200. With this investment, Rohit will accumulate Rs 2.79 crore in 30 years. Out of this, Rs 43,42,642 is the investment of Rohit which has been accumulated in 30 years. Apart from this, Rs 2,35,94,709 will be available as return. Now this amount of return will have to be deposited in the Systematic Withdrawal Plan ie SWP. If you invest Rs 2.79 crore in SWP, then every month Rohit will easily get Rs 1 lakh as pension.
For this, one can invest in SBI Conservative Hybrid Plan, ICICI Prudential Equity Debt Fund and Kotak Debt Hybrid Fund through SWP plan.