POSTED BY February 27, 2011 11:37 am COMMENTS (8)ON
Firstly, Thankx a ton for the effort&time invested in your website development
Really appreciate your contribution in the site.
Now my Q’n below?
Im 29 now.
If i invest 25k/year (roughly 2k/month), for 30 yrs.
I need to calculate how much would the total amount be aftr 30 yrs.
1st yr -> 25k
2nd yr -> 25k + amt. from 1st yr + 8% intrst of 25k(from 1st yr)
3rd yr -> 25k + amt. from 2nd yr
4th yr -> 25k + amt. from 3rd yr.
30th yr -> How much does this accumulate to ?
This will enable me to decide whether to opt for the above way
or a standard LIC/SBI/Pvt company pension plan
Assmuming the above is compound interest.
Im aware 8% interest on FD is taxable.
But what if the above invstmnt is done in a PPF account.
So i need a calculator(tool/xls sheet) that calculates based on the above fashion
& intererest also compounded yearly.
Usually, for a pension plan, the LIC guys say
invest X amount yearly, after 30 yrs, one gets Y amount.
So, if i get this calculator, that will help me to see if
Y in LIC/SBI/Pvt company pension plan > PPF or taxable FD invested as described above.
Which one is higher?
Apart from this, i will take an yearly LIC term insurance for life coverage.
So, i don want to mix life insurnce and pension plan in a single package.
I chose annually 25k, this may vary depending on one’s lifestyle.
ppl with a highr lifestyle can go for annually 25k+
Inflation part, for next 30 yrs , is not forgotten but keeping that
aside for a while.
All the calculators in different websites in the net,
do the calculations based on one time investment.
Your calculators are also good, but the one that
i have addressed above with yearly investment is not there.
So, Please help me in this.