India’s economy is expanding, and the disposable income of people is increasing. At the same time, expenses in our life are also increasing and are likely to increase further in the future. This is the reason it is now the time to start planning for retirement.

Experts say when a person is 30 years old and wants to get ₹1 lakh per month post-retirement, they must start investing now. The cost of delaying your investment will be untold amounts of savings to have enough later.

The real question is how much SIP to invest each month starting at age 30. We have performed that calculation today. Let me tell you here, two situations can arise here. And you have to invest keeping those two situations in mind.

First situation

Let’s assume that SIP grows at the rate of 13 percent every year. In that case, you save 5 thousand rupees in just 25 years. In that case, you can easily make a capital of 1 crore rupees by the age of 60. And you can withdraw that money at 1 lakh rupees per month for 15 years through a systematic withdrawal plan. This is the first plan.

Second situation

Suppose you get a profit of 10 percent in your SIP. In that case, you have to deposit 35,575 rupees per month for 30 years. In that case, you will have 1.5 crore rupees in your hands by the age of 60. In such a situation, you can get 1 lakh rupees per month after retirement.

Follow these rules

1. You have to start very early. The sooner you start saving money, the faster the money will grow. Even if you invest less money, you can reach the best place.

2. You have to invest regularly. I did it today, I won’t do it tomorrow, it won’t work. Instead, invest regularly every month.

3. Don’t keep all your money in one place. Instead, you should keep money in different places. Only then will money accumulate.

4. You should increase your investment according to inflation year by year.

5. Don’t withdraw all at once. Instead, use SWP. Withdraw money gradually.

Note: Do not buy or invest in stocks after reading this article. It is written for information and educational purposes. Before making any decision, seek expert advice. Also, do your own research. Then invest in stocks.