If you want to plan for retirement. In such a situation, you should invest your savings money in a good scheme, from where you can get a good amount of returns. It is worth noting that most of the people in the country invest their money in safe investment schemes. People get guaranteed returns from these areas of investment but the interest rate is very low. If you are expecting good returns on your savings money. In such a situation, you can invest your money in mutual funds. This sector is however subject to market risks. However, the expectation of getting good returns from here is quite high. In this connection, let us understand the maths of investment, with the help of which you can collect Rs 77.9 lakh by saving Rs 1200 every month.
Suppose you are 25 years old. In such a situation, if you choose a good mutual fund scheme and make SIP in it. After this if you invest Rs 1200 every month in that SIP for the whole 35 years.
If you get an estimated return of 12 percent every year on your investment. In this situation after 35 years when you will be 60 years old. At that time you will be able to collect a total fund of Rs 77.9 lakh.
With this money, you will be able to live your post-retirement life financially independently. During this time you will not need to be financially dependent on any other person.
Disclaimer: The money invested in Mutual Funds is subject to market risks. Take expert advice before investing in it. If you invest in mutual funds without knowledge. In this situation, you may have to face a big loss. The returns on investments made in mutual funds are determined by the behavior of the market.
(PC: iStock)
