According to Dr. Vikas Gupta, CEO and Chief Investment Strategist, OmniScience Capital, Diwali is a good time to think about your current and future family wealth.
Gupta said, “You should consider that you require nearly 500-600 times of your current monthly expenses at retirement to live the same lifestyle without risk of running out of money in your old age. This assumes that the retirement is more than 15-20 years away. Also consider the rule of 15-15-15 that 15000 invested monthly for 15 years in an asset class—typically equity—which generates 15% per annum could build a corpus of ₹1 crore.”