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POSTED BY ON December 11, 2011 3:53 pm ONE COMMENT
Dear All,
Am aged 52 now and planning to retire in another 5 years.
I planning to take a pension scheme which should give me a return of Rs 30,000/- pm. I can get another 20K from rent etc… so that i maintain the same standard of living.
If i have to get Rs 30K pm where i should invest and how much. Am not a risktaker and hence dont advise me on gold or stock market.
Regards
Q
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Dear Pramod kashyap, a simple calculation –
30K mly = 30*12 = 3.6L yly pension amount.
@ 6% rate of return, the corpus should be at least 60L Rs. I do not know how much you already have in the form of PF, PPF, Leave encashment, Gratuity, bank FDs, NSCs……. If possible to you please do quote your existing corpus from the above instruments.
May I ask a simple question to you, How do you come to the figure of 50k for your post retirement life expenses? I feel you are ignoring the impact of inflation. Sample this –
@ 9% inflation rate the purchasing value of current 50K ‘ll become 45.5K after 1 year @ your age 53.
@ age 58 it ‘ll be 28400
@ age 60 it ‘ll be 23500
@ age 65 it ‘ll be 14700
Think over it & post your reply.
Thanks
Ashal