₹1 crore enough to retire comfortably

Let’s assume that today you have 1 crore and nothing else at the age of 55.

Let’s also assume you have no depending kids to take care of.

Here’s What I Will Do:

• For 8 Lakhs buy half an acre land in a Tier 3 Village.
• Build a Tiny 1.5BHK Home for about 7 Lakhs.
• Another 5Lakhs, Use it a cash backup in Saving Account.
• Remaining 80Lakhs in Fixed Deposit for 6.5% Interest Rate. This Interest will generate 43,000/ Month.

Now you own a home without rent, a decent income stream, and some savings.

This is the Important Part (To Beat the Inflation)

• You need to control your spending to just 30,000/ Month.
• Remaining 13,000/ Month needs to be invested.
• 3000/ Month in Medical Insurence (Critical)
• Invest 5,000/ Month into Mutual Funds ( 2 Mutual Funds)
• Invest 2500/Month into Gold.
• Save 2500/Month in Fixed Deposit

I agree you might have to change some of your lifestyles but in order to live comfortably and beat the inflation, You need to adopt and make retirement happen.

if you already own a home with 1 Crore in cash, you will obviously live better.