Sir,
Myself Rajesh, salaried person, 37 years old. having MF SIP Rs. 36500 per month, current invested amount is about Rs. 14,00,000/- + in Equity stocks- Rs.3,00,000/-
have about Rs. 5,00,000/- in hand to invest either in stocks or MF .
Have family of 3 people and Monthly expenses are around Rs.25k.
Planning to take retirement in another 10 years, looking at the current investment can you help me identify approx. corpus required to invest and take retirement.
Thank you.
Ans: Hello Rajesh! It's great to see your commitment to investing for your future, especially with retirement on the horizon. Let's dive into planning for your retirement corpus.
Given your current investments in MF SIPs and equity stocks, you're already on a solid path. However, to estimate the corpus needed for retirement, we need to consider factors such as your desired post-retirement lifestyle, inflation, and expected expenses.
With your monthly expenses at Rs. 25,000 and a family of three, projecting your future expenses accounting for inflation is essential. Additionally, factoring in potential healthcare costs and other unforeseen expenses is prudent.
As a Certified Financial Planner, I recommend conducting a comprehensive financial review to determine your retirement goals and risk tolerance. This will help in estimating the corpus required to sustain your lifestyle post-retirement comfortably.
With your additional Rs. 5,00,000 in hand, you have an opportunity to further diversify your investments. Whether you choose to invest in stocks or MFs, consider your risk appetite and the need for diversification to mitigate risks.
I suggest consulting with a financial advisor who can create a personalized retirement plan tailored to your specific circumstances and goals. By taking proactive steps now, you're setting yourself up for a financially secure retirement in 10 years. Keep up the good work, and remember, investing is a journey, so stay focused on your long-term objectives.
