A busy corporate life can make you sway from planning a tension-free life after you retire from work one day. One can deal with the struggles when they are young and ready to run the extra mile. As you grow older and get into the late 40s and early 50s, the penchant for extra drive takes the backseat. And when you retire, you would likely to be away from physical and mental exhaustion. So, you need to plan early so that you can generate sufficient corpus to deal with the challenges that await after retirement. The best tool to plan your retirement is with mutual funds offered by several asset management companies (AMCs) such as Reliance. So, before you plan your retirement with Reliance Mutual Fund, it’s imperative you use the retirement calculator to know the future value of your expenses. This will help you choose the right funds.
How Does Reliance Mutual Fund Retirement Calculator Work? The calculator operates in a simple manner by estimating the value of your current expenses based on the variables you enter in the same. You can thus visit the official website of Reliance Mutual Fund and navigate to Retirement Calculator. Type in the space provided for current age, when you are planning to retire, expected inflation rate and current monthly expenses. You can take 6%-7% as the expected inflation rate while filling all other variables that are actually the case. As soon as you do so, the future value of your expenses would be shown on the screen. Afterward, you need to click on ‘Next’ to get to the other page wherein you need to enter the life expectancy after retirement and assumed return rate after retirement. This will lead to the ascertainment of the minimum retirement corpus you must generate. Click on the ‘Next’ button to enter in the space against the years left for retirement, how much lumpsum amount you can invest right now and assumed return rate during accumulation. If the lumpsum amount you enter is found sufficient to generate the corpus you seek, then there won’t be any requirement to invest on a monthly basis. If not, then the calculator would show the amount you need to invest monthly in addition to the one-time lumpsum amount. Reliance Equity Mutual Funds Perhaps the Best Way to Plan Your Retirement Given the fact that inflation is moving at the rate of knots, it would be worthwhile investing in the power of Reliance equity funds. You can thus invest in any of the following equity funds the fund house has to offer.
Reliance Tax Saver ELSS - It’s a tax-saving fund that can help you avail income tax exemptions of up to ₹1.5 lakh in a financial year. Suitable for those wanting long-term capital appreciation, the fund has delivered a return of 8.98%, 10.66% and 15.06% in 3, 5 and 10 years, respectively. You can start off with a minimum investment of 500 each by either lumpsum or SIP mode. Reliance Multicap Fund - The fund invest in stocks of companies across the market capitalization to diversify the risk pertaining to investments. It has offered a 1-year, 3-year, 5-year and 10-year return of 11.86%, 14.34%, 12.70% and 17.67%, respectively.
0 Comments
Leave a Reply. |
Details
Anika Sharma
|