Hi,
My retirement Plan (this investment/plan does not include child's education and marriage, home etc) is something like this:-
2.5K per month ELSS + SIP over 24 years at 18%p.a. leads to around 95 Lakhs. (I assume 18% because over long term sensex has returned this. I read in some of the newspaper columns.)
Thru Debt/Equity mix and thru systematic withdrawal, if i am able to get 6.5% yield per year and make the money grow by 6.5% per year, i am in a comfortable position. (I assume 50K per month expenditure and i assume inflation of 6.5% post retirement, which i believe is on higher side).
My Plan is if this 2.5K equity investment per month (this will not be touched) can help me finance my basic retirement expenses (10K in today's terms), I will be good to go. Because my PF and my rising income would help though, but i dont want to take that into consideration. That will add luxury to my life.
Also assume that i have not done any saving as yet, except PF that goes from my salary and I intend to start this plan.
Please let me know if i am missing anything. Please advice/guide.
Regards.