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Ramalingam Kalirajan  |8265 Answers  |Ask -

Mutual Funds, Financial Planning Expert - Answered on Apr 16, 2024

Ramalingam Kalirajan has over 23 years of experience in mutual funds and financial planning.
He has an MBA in finance from the University of Madras and is a certified financial planner.
He is the director and chief financial planner at Holistic Investment, a Chennai-based firm that offers financial planning and wealth management advice.... more
Asked by Anonymous - Apr 16, 2024Hindi
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My wife and i are 39 years old. We have 2 daughters ages 6 and 9. We currently have the following: 1. 4.5 crore in stocks and equity MF 2. 7 lac each in NPS. We contribute 50K each yearly 3. We put 1.5 Lac for each child in SSY. 4. One apartment worth 1.2 crore with rent coming in at 40K per month 5. One house paid for where we stay. 6. When we retire we will sell the land we own amd that corpus will be invested. Present value is 4 crore. Our SIP are around 1.50 L a month and total expenses includinf SIP is 5 lacs a month. We want to allocate 50L of todays money for each child wedding and same for post schooling education. We also want to allocate 1 domestic vacation per year and 1 international hpliday every 12 or 18 months. If we want to retire at 40 or 45 what is the corpus needed to maintain same lifestyle?

Ans: Given your assets and goals, you're on a good path. To retire by 40-45 with the same lifestyle, you'll need a substantial corpus, likely multiple crores, depending on inflation and returns. Allocate 50L each for your children's education and weddings, which seems adequate. Ensure your investments align with your retirement and children's goals to achieve financial independence early.
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