Hi iam 45 yrs and my take home salary is 2.25 lac i am investing in sip of 50 k a month some 40 lac in fa i donot have any loan but i wish to buy a flat can u tell me how much of corpus amt will i make in 20 yrs and what can i do fr saving
Ans: It's great that you're thinking about your financial future and considering your options. Let's explore your situation:
Starting with a monthly SIP of 50k is a fantastic step towards building a solid financial foundation.
With your disciplined approach to investing, you're likely to see significant growth in your corpus over the next 20 years.
Based on your current SIP amount and assuming a reasonable rate of return, you can expect a substantial corpus by the end of 20 years.
Additionally, your take-home salary of 2.25 lac provides a good starting point for saving towards your future goals.
Since you don't have any loans and have a stable income, you're in a favourable position to allocate funds towards your goal.
To estimate the exact corpus amount you'll accumulate in 20 years, we'll need to consider factors like the rate of return on your investments.
It's important to diversify your investments across different asset classes to spread risk and maximize returns over the long term.
Considering your goal of buying a flat, you can start by setting aside a portion of your monthly income towards a down payment fund.
It's essential to assess your risk tolerance and investment horizon to determine the most suitable investment options for you.
A Certified Financial Planner can provide personalized guidance and help create a tailored financial plan to achieve your goals.
Remember, consistency and patience are key when it comes to long-term investing. Keep up the good work!
