Why waiting 10 years to save for retirement costs you ₹7 crore
Delaying your investment journey by a decade can severely impact your retirement savings because you miss out on the benefits of compounding. According to Subhendu Harichandan, Executive Director at Anand Rathi Wealth, if you invest ₹5,000 every month starting at age 25, raise that contribution by 10% each year, and achieve a 13% return, your fund could reach ₹9.4 crore by the time you turn 60. However, if you wait until age 35 to begin, that same strategy would only result in a corpus of approximately ₹2.2 crore.
by shortkt.com✓