Having a balanced life where you can enjoy today while saving for tomorrow is important. Hence, it is better to have a plan in place for all these objectives. At present, you are both investing ₹60,000 for your goals like your son’s education and retirement. The remaining ₹40,000, which effectively comes close to ₹5 lakh every year, you are keeping aside for your travel and vacation. With a ₹60,000 investment per month, at the end of 10 years, i.e., when your son is 16, you will have a corpus of ₹1.33 crore, which can easily take care of the education goal.
How does inflation affect your savings & investments?
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