Trending news: Investment Tips: How to prepare retirement fund in this market that is wasting investors’ money? – Hindustan News Hub
To build a retirement fund, it is most important that you control expenses.
Find out how much money you will need for annual expenses at the time of retirement.
You will need a retirement fund 30 times more than the amount that comes.
New Delhi. The stock markets around the world are currently witnessing a decline. This year the markets have not been able to recover from Russia-Ukraine war, rising inflation and fears of recession. The Indian stock market has again performed better than other markets, but after going up some distance, it is also turning upside down.
In such a situation, even if someone wants to start investing for his retirement, he is not able to understand where his money will be safe. When there is chaos all around in the money market, then investors should start their investment keeping in mind 3 major things. This will also increase the chances of their money growing and staying safe. Quoting an article in Mint, we will tell you about these three important things.
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save more than spend
Surjit Singh Arora, Portfolio Manager, PGIM India Portfolio Management Services, says that given the current global economic situation, this year looks very challenging. However, the Indian stock’s position looks better in the next 3-5 years as India will be one of the fastest growing economies in the world. He said that for the time being, save more than what you spend. This is one way by which you can be successful in raising money.
put money in stocks for a long time
Compounding is a wonderful thing. Those who understand it earn a lot of it. You should invest in shares under the rule of 100-your age=%. In simple words, if you are 30 years old then you should have (100-30) 70 percent investment in equity. You should invest at least 10 years in the stock market so that you can take good advantage of it.
planning for retirement
According to experts, your retirement fund should be 30 times more than the expenses of the year you are going to retire. Suppose after 30 years from today your annual expenditure increases from today’s Rs 3 lakh to Rs 12 lakh, then you would need a retirement fund of 30 times more i.e. Rs 3.6 crore. You can use the Rule of 72 to calculate your expenses.
Tags: investment tips, Personal finance, retirement fund, retirement savings
FIRST PUBLISHED : September 26, 2022, 08:05 IST
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