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NPS: You can make 1 crore rupees by saving 74 rupees daily, know how to invest in this government scheme

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National Pension System: To become a millionaire, you do not necessarily have to do business or earn very thick salary. You can become a millionaire even in a simple salary.


New Delhi: National Pension System: To become a millionaire, you do not necessarily have to do business or earn a hefty salary. You can become a millionaire even in a simple salary. This government started the NPS for the people, so that people can deposit a little money and deposit a good amount for their retirement.

If you want, save just 74 rupees a day and put it in the NPS, then you will be in your hands till the retirement of 1 crore rupees. If you are young and you are 20 years old, then from now you can plan your retirement, although people usually do not do jobs at this age. Still saving 74 rupees a day is not a big deal.

Investment in NPS will make millionaires

NPS is a market linked retirement oriented investment option. Under this scheme, the money of NPS is invested in you in two places, Equity i.e. Stock Market and Debt i.e. Government Bonds and Corporate Bonds. You can decide how much money of NPS will go into equity only during the opening of the account. Usually up to 75% of the money can go into equity. This means that in this you expect to get a little more return than PPF or EPF.

Now if you want to become a millionaire through NPS, then its method is very easy, just a little trick is needed. Suppose you are 20 years old at this time. If you invest in NPS by saving Rs 74 for the day, that is, saving Rs 2230 for the month, you can do this. That is, when you retire after 40 years, you will be a millionaire. Now suppose that you got a return at the rate of 9 percent. So when you retire, your total pension wealth will be 1.03 crore rupees.

Start of investment in NPS

Age 20 years

Invest every month Rs 2230

Investment period 40 years

Estimated return 9%

NPS bookkeeping of investment

Total invested 10.7 lakhs,

got total interest 92.40 crores,

pension wealth, 1.03 crores,

total tax savings 3.21 lakh rupees,

now you cannot withdraw all this money together, only 60% of it can be withdrawn, the remaining 40% will be given to you in annuity plan. You have to give a pension, so that you get a pension every month. Suppose you put 40% of your money in annuity. So when you are 60 years old, you will be able to withdraw a lump sum of 61.86 lakhs and assuming the interest is 8 percent, then every month the pension will be about 27500 thousand rupees.

Pension account 


Annuity 40%

Estimated interest rate 8%

lump sum amount received 61.86 crore

Monthly pension Rs.27496

Although it is a market-linked product, it is possible to change its returns. The mantra of any investment is to start investing in it soon.

 

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