Thanks for visiting Capital Advisor. I frequently update this blog to cover various topics on personal finance such as investment strategies, financial products that you should buy and ones that you really should stay away from, financial calculators, emerging themes such as early retirement and financial independence, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.
D was curious to know,
How much should I save/invest each month if I want to build a corpus of 5 lacs (Rs 500,000) in 5 years? Also, in which financial instrument should I save/invest this monthly amount?
I’d recommend saving Rs 7,000 each month in a 5-year Recurring Deposit at the Post Office. An absolutely safe and disciplined approach to building the targeted corpus. At current interest rates (the interest rate is locked once you open the deposit), the maturity amount would be 5.1 lacs (Rs 510,230) (slightly higher than the target).
What do you think? Can you suggest an alternate investment strategy?
Thanks for reading this article. I'd love to hear your opinion. Please use the comments section below to share your thoughts. I frequently write new articles that also cover several other aspects of personal finance including credit cards, financial goals, health insurance, income tax, life insurance, mutual funds, retirement planning, and much more. You can Subscribe through Email and receive new articles directly in your Inbox or you can Subscribe through the RSS Feed and receive new articles in your feed reader.