Home > Money > Question
Need Expert Advice?Our Gurus Can Help
Ulhas

Ulhas Joshi  |265 Answers  |Ask -

Mutual Fund Expert - Answered on Jul 20, 2023

With over 16 years of experience in the mutual fund industry, Ulhas Joshi has helped numerous clients choose the right funds and create wealth.
Prior to joining RankMF as CEO, he was vice president (sales) at IDBI Asset Management Ltd.
Joshi holds an MBA in marketing from Barkatullah University, Bhopal.... more
Rajit Question by Rajit on Jul 20, 2023Hindi
Listen
Money

how much shall I invest in SIP on monthly basis considering my retirement at 60

Ans: Hello Rajit and thanks for writing to me. Please share relevant details like your current age, the amount you can invest monthly, your goals and risk appetite for me to recommend schemes.
DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.
Money

You may like to see similar questions and answers below

Ramalingam

Ramalingam Kalirajan  |4759 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 09, 2024

Asked by Anonymous - Apr 30, 2024Hindi
Listen
Money
I am 38 years I am planning to retire at 45 years with 2 Cr on corpus.let me know how much SIp I need to do as I am aggressive investor.
Ans: It's commendable that you're planning for an early retirement at 45 and aiming for a significant corpus of 2 Crores. As an aggressive investor, you're willing to take on higher risk for potentially higher returns.

To achieve your goal, you'll need to calculate the SIP amount based on factors like expected rate of return and investment horizon. Since you're aiming for an early retirement, you'll likely need to invest a substantial amount each month to reach your target.

As a Certified Financial Planner, I advise caution when aiming for aggressive investment goals. While higher risk can lead to higher returns, it also increases the possibility of volatility and potential losses.

Instead of providing a specific SIP amount here, I recommend scheduling a consultation with a CFP who can conduct a detailed analysis of your financial situation, risk tolerance, and investment goals.

During the consultation, your CFP will help determine the most appropriate investment strategy to maximize growth potential while managing risk effectively. They'll consider factors like asset allocation, diversification, and investment time horizon to tailor a plan that aligns with your objectives.

Remember, achieving financial goals requires discipline, patience, and a well-thought-out strategy. By working closely with a CFP, you can create a roadmap to reach your retirement target and secure your financial future.

Best Regards,
K. Ramalingam, MBA, CFP,
Chief Financial Planner,
www.holisticinvestment.in

..Read more

Ramalingam

Ramalingam Kalirajan  |4759 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on May 17, 2024

Listen
Money
Hi I am currently 50 years old... Could u guide me as to what amount of monthly SIP should I put and in to which funds so as to generate a monthly retirement payout of 2 lac every month at the age of 60 years
Ans: Planning for Retirement Income
Understanding Your Goal
Planning for a monthly retirement payout of 2 lakhs at the age of 60 is a commendable goal and requires careful financial planning.
Assessing Your Current Situation
As you're currently 50 years old, it's essential to evaluate your existing assets, liabilities, and investment portfolio to determine your financial standing.
Calculating Required Corpus
Estimating Retirement Corpus
To generate a monthly payout of 2 lakhs, you'll need to calculate the required retirement corpus based on your expected retirement age, life expectancy, inflation, and expected rate of return on investments.
Working with a Financial Planner
Consulting with a Certified Financial Planner (CFP) can help you determine the exact amount of monthly SIP required to achieve your retirement income goal.
Designing Your Investment Portfolio
SIP Amount and Fund Selection
Your monthly SIP amount will depend on factors such as your current savings, expected rate of return, and investment horizon.
A CFP can recommend a suitable asset allocation strategy and select appropriate mutual funds based on your risk tolerance, financial goals, and time horizon.
Diversification for Stability
Diversifying your portfolio across different asset classes, such as equities, debt, and possibly real estate or alternative investments, can provide stability and enhance returns over the long term.
Adjusting Your Financial Plan
Flexibility and Adaptability
It's crucial to periodically review and adjust your financial plan based on changing circumstances, market conditions, and personal goals.
A CFP can help you navigate through life transitions and unexpected events while staying on track towards your retirement objectives.
Conclusion
Planning for retirement requires careful consideration of various factors, including your age, financial situation, risk tolerance, and retirement income goals. By working with a CFP, you can develop a personalized financial plan tailored to your specific needs and aspirations, ensuring a secure and comfortable retirement lifestyle.

Best Regards,

K. Ramalingam, MBA, CFP,

Chief Financial Planner,

www.holisticinvestment.in

..Read more

Latest Questions
Mayank

Mayank Chandel  |1528 Answers  |Ask -

IIT-JEE, NEET-UG, SAT, CLAT, CA, CS Exam Expert - Answered on Jul 15, 2024

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Investment in securities market are subject to market risks. Read all the related document carefully before investing. The securities quoted are for illustration only and are not recommendatory. Users are advised to pursue the information provided by the rediffGURU only as a source of information and as a point of reference and to rely on their own judgement when making a decision. RediffGURUS is an intermediary as per India's Information Technology Act.

Close  

You haven't logged in yet. To ask a question, Please Log in below
Login

A verification OTP will be sent to this
Mobile Number / Email

Enter OTP
A 6 digit code has been sent to

Resend OTP in120seconds

Dear User, You have not registered yet. Please register by filling the fields below to get expert answers from our Gurus
Sign up

By signing up, you agree to our
Terms & Conditions and Privacy Policy

Already have an account?

Enter OTP
A 6 digit code has been sent to Mobile

Resend OTP in120seconds

x