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Why not delay the Investment

MF Online Investment
 

FOR YOUNG earners, spending is more important than saving. A study of 2,000 professionals found that more than 90% don't start planning for retirement in the first five years of their careers. Even by the 10th year, less than 20% would have a retirement plan in place. The consequences of this delay are mind boggling. What one saves in the first few years of starting a career burgeons into a massive amount over the next 25-30 years even though the individual saves more in the later years as his income grows. If an investor starts an SIP of `5,000 in an equity fund that gives 12% returns, he will accumulate `1.77 crore in 30 years. But if he waits till 28 to start investing, his corpus will be smaller by `56 lakh. Even if he enhances his savings by 10% every year, what he puts away in the first 10 years will account for almost 24% of the total retirement corpus. The longer the delay, the smaller is the corpus.

Many young earners don't start investing because their income is low. This is a fallacy. For a young investor, the smallness of the investment is more than made up by the long time available for the money to grow. The magic of compounding ensures that even a small sum grows into a gargantuan amount over the long term. The investment can be scaled up as the income grows in the coming years.

 imggallery
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1. BNP Paribas Long Term Equity Fund

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4. ICICI Prudential Long Term Equity Fund

5. IDFC Tax Advantage (ELSS) Fund

6. Birla Sun Life Tax Relief 96

7. DSP BlackRock Tax Saver Fund

8. Reliance Tax Saver (ELSS) Fund

9. Religare Tax Plan

10. Birla Sun Life Tax Plan

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