Retirement Planning: When people do a job, they spend their salary on household expenses, children’s education and marriage, etc. However, when the time of retirement comes, the problem starts increasing, because after retirement,t there is no salary. In such a situation, how will the household expenses be met? In such a situation, one should be alert from youth itself and start saving money for old age from now.
Let us tell you that if the investment plan is made at the right time, then life will be very comfortable after 60 years. Let us tell you about some methodswhthatou should understand and follow.
Read More: File Your ITR Easily with AI-Powered Tools: A Guide for 2025
Read More: Why Asus Strix G16 2025 Is the Next Gaming Monster – Check Details
Follow the Rule of 70
First of all, follow the Rule of 70. From this yo,u will be able to understand how much time the value of your deposit will be halved. However, for this, you should know about the current inflation rate. If you divide the current inflation rate by 70, then the number that will come. From this, you can know how many years the value of your deposit will be reduced to half.
Understand it with an example- if the inflation rate is 4% and if it goes up to 7,0, then it will be 17.5. That means in 17.5 years the value of the deposited capital will be halved. Suppose you were managing the expenses with 1 cro, then after 17.5 years, you will need 2 crore rupees. Actually, after 17.5 years, the value of 1 crore will be 50 lakh rupees.
Choose the right option for investment.
You can deposit a huge fund by increasing your contribution to the VPF in the EPF. Apart from this, you can arrange for both retirement fund and pension by investing in NPS. Investment can be made in Mutual Funds through SIP. At the same time, the benefits of schemes like PPF, Fixed Deposit can be taken. By doing this, you can deposit a huge fund for your old age.