New Delhi. You can lose crores of rupees by just a few years’ delay in your first investment. Most financial experts say that you should start saving as soon as you start a job. For this, you do not have to save a large amount. Investment can be started by saving small amounts. This small amount every month can create a large fund in the form of savings for your future. Today, we will tell you on the basis of saving Rs 5,000 every month how beneficial it can prove to be for you in the long term. You will be surprised to know that a delay of only 5 years in saving can cause you a loss of Rs 1 crore.
For example, let us take three investors. These three investors started investing Rs 5,000 every month at different ages. All these investors are investing for their retirement till the age of 58.
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, Investor ‘A’ started investing at the age of 23. He expects an average return of 11 per cent on an investment of Rs 5,000 every month. By the age of 58, he will have Rs 2.64 crore as retirement fund.
, Investor ‘B’ started investing Rs 5,000 every month from the age of 28. He also expects a return of 11 per cent. By the age of 58, he will have Rs 1.40 crore as retirement fund.
, Investor ‘C’ starts investing at the age of 33. He also expects a return of 11 per cent on an investment of Rs 5,000 per month. According to this, investor ‘C’ will have only Rs 79 lakh as retirement fund at the age of 58.
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The above example clearly shows that investing Rs 5,000 every month for an annual return of 11 percent can generate a corpus of up to Rs 1 crore in 5 years. If we look at it in the span of 10 years, then this amount is becoming even bigger. After this example, it can be said that the sooner you start investing, the more you can strengthen your future financially.
FIRST PUBLISHED : November 19, 2020, 09:36 IST