BusinessPhoto: News18 BusinessHow Much to Invest for Retirement Starting at Age 40
Starting retirement savings at 40 with no prior savings is challenging but achievable with disciplined investing. Experts recommend accumulating 25 to 30 times your annual expenses. For a ₹30,000 monthly budget today, inflation could raise it to ₹96,000 in 20 years, requiring about ₹2.9 crore by age 60. A ₹15,000 monthly SIP at 12% returns can grow to ₹1.5 crore, increasing contributions by 10% yearly can reach ₹3 crore. Balancing equity and debt through EPF, PPF, and NPS is advised.
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