Retirement is the time when you would want to actually rest keeping aside all the worries at least monetary ones but it doesn’t mean that you’ll be spending all your time on that rocking chair or yours watching TV. You can have everything during that time as you’ll be having a lot of free time but for that, you need to have money.
Which is why saving or investing now is the best option. Now, a sum of 5 Crore at the end of your working days would be just fine for anybody to have all that they want at that time.
This is the reason we’re going to tell you how to smartly invest now to avail and spend your time as a king in your later years.
Investing in Mutual Funds for INR 5 crore Corpus
Now, the first thing that we’re considering is that you’ll be retiring at an age of 60. And for making an INR 5 Crore Corpus, you need to be earning decently at current times which is why we’re assuming that you’ll be in your late 30’s or early 40’s.
The first thing that you need to do is investing an amount of 50,000+ INR for a term of 20+ years at a compounding interest of 10 percent per annum.
Now, as we’ve assumed everything here, then you can adjust your money investment and your investment period according to your suitability.
The next thing you need to know is that in a long term investment like this, all your money needs not to be invested in one place and you need to have options.
Which is why you should invest 80% of your capital in equity mutual fund schemes, 10% of your capital in gold mutual fund schemes, and 10% of your capital in gilt schemes for the next 10-15+ years and then gradually shift 10% of your capital, every year to safe debt investments for the next 8 years.
Suggestive Options for Investment
- Nippon India Gold Savings Fund- Growth
- SBI Magnum GILT Fund- Growth
- Axis Smallcap Fund- Growth
- Axis Midcap Fund- Growth
- Nippon India Index Fund-Sensex Plan-Growth
- Quantum Long Term Equity Value Fund- Growth
The last thing to remember is that you need not get stuck on only one thing. And you need to keep rebalancing and seeing how things are working according to the market for the best possible options