SIP: Salary Rs 20,000 a month; retirement corpus Rs 1 crore. Can you achieve it? Know how
When you start your career or your salary is low, you may think that saving money and creating a retirement corpus are not my cup of tea. You may think that even if you save money, it will be low and insufficient to create a large corpus. But you are wrong. Saving money is a habit. People with large paycheques may have spendthrift ways and may not save at all. But we will tell you a formula where, even with a monthly salary of Rs 20,000, you may think of becoming a crorepati.
According to financial rules, you should save Rs 4,000 every month and meet all the expenses and needs of your household with Rs 16,000. Image source | Unsplash