Saving for Retirement – Year 4. Goal achieved and New goals set!

I enjoy growing my investments and have no issues sharing them publicly :)  The last update was two years ago in 2010 when the total value was 12.11 lakh. Seems low I know, but this is for the long term. I have 25 years left! I’m happy to report that the last two years have been fairly decent to me. The total value as of today is 17.37 lakh. Here they are:

Investments as of 2012
Investments as of 2012

 

Two years ago, my target for the age of 55 was 3.11 Cr. With inflation, that translates into around 50 lakh in today’s’ time. At which point I can just peacefully live off the interest.  Two years ago, I had to invest Rs. 3,274 each month to reach 3.11 crore by the time I reached 55. Today, because the market has done well and I’ve been investing regularly, I can proudly say that I have achieved my retirement goals already :D. Here is the most recent calculation from this awesome retirement calculator.

Retirement Goals Achieved!
Retirement Goals Achieved!

According to this, I can start  withdrawing Rs. 5000 every month and still reach my 3.42 crore at the age of 55. Perfect :). At this rate even if I do nothing, my investments will grow to 4.6 crore. So what do I do now? Where do I go from here? I enjoy investing and watching my money grow. So I’m just going to double my retirement goals to 1 crore in today’s money or 6.84 crore by the time I reach 55 :) . Feeding in the new value, here is the updated retirement calculator.

With Doubled Retirement Goals
With Doubled Retirement Goals

So I gotta put in at least Rs. 10,000 a month into my investments for the next 25 years to reach my doubled retirement goals. Pretty cool huh?

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10 thoughts on “Saving for Retirement – Year 4. Goal achieved and New goals set!”

  1. way to go Bhagwad,
    simple elementary but good planning
    has inspired me to look at the table
    Retirement Calculator is the table in some website?
    if yes let me know
    may you retire early, enjoy your retirement peacefully economically

    Reply

  2. Hi Bhagwad
    Many thanks for your post. I looked at your earlier post a year or two ago – it inspired me and educated me on the value of investing early and plan for it. Thanks to you I understood for the first time how money-things (sic) work and the value of planning. When I went to India for holiday I immediately met up with a financial adviser – I pointed him to your post and we discussed and he agreed that he had never seen anything explained so clearly to him. I hope my things are in order and will provide for me and for my family.
    I have re-read the post several times in last few years and you would have made a big difference to my life – I am sure when I retire few decades down the line I will thank you from the bottom of my heart. God bless you – your site is refreshing and wonderful – keep going.

    Reply

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