Time Is Your Best Friend
All of us have dreams – financial dreams; buying a home, providing the best of education to our children, retiring comfortably and so on. Wants are unlimited and resources limited. Under such conditions, you have a best buddy on your side – TIME.
We know that some our aspirations are common across generations. Only if you could identify your long term goals now, time could be your ally. The power of compounding also would come to your help in a big way.
Look at the simple illustration here.
|
Goal |
Daughter's College Education Plan |
||||
|
Target Corpus (Rs.) |
40,00,000 |
||||
|
Investment begins on |
Investment ends on |
Years of Investment |
Annual Expected Rate of Return |
Monthly Investment Required (MIR) (Rs.) |
% Change in MIR |
|
01/01/2011 |
01/01/2027 |
17 |
12% |
6,040 |
|
|
01/01/2012 |
01/01/2027 |
16 |
12% |
6,938 |
15% |
|
02/01/2013 |
01/01/2027 |
15 |
12% |
8,000 |
32% |
|
03/01/2014 |
01/01/2027 |
14 |
12% |
9,253 |
53% |
|
04/01/2015 |
01/01/2027 |
13 |
12% |
10,747 |
78% |
With each year’s delay the monthly investment increases dramatically. It means, if you are unable increase the monthly investment, you will have smaller corpus or you must take higher risks.
It makes more sense to start early and achieve your financial goals easily.
Interested to know how various plans/options can work for you? To contact you send your request here. with details and we will get back to you.
