Why Millennials Should Start Early
Millennials have the greatest advantage in retirement planning - time. Starting early allows your money to compound over decades, turning modest savings into substantial retirement corpus.
Calculate Your Retirement Corpus
Consider these factors:
- Current age and planned retirement age
- Expected monthly expenses post-retirement
- Inflation rate (typically 6-7%)
- Life expectancy
- Expected return on investments
Best Retirement Investment Options
- NPS (National Pension System): Tax benefits and market-linked returns
- PPF (Public Provident Fund): Safe, guaranteed returns
- Equity Mutual Funds: Long-term wealth creation
- EPF (Employee Provident Fund): Automatic savings from salary
Conclusion
Start your retirement planning today. Even small monthly investments can grow significantly over 30-40 years through the power of compounding.
