BQPortfolio: Vinit’s 21 And Already Planning A Retired Life Of Travel
Vinit Moradia wishes to achieve financial independence in two decades. After this, he plans to travel the world.
Moradia has just started working and earns a monthly stipend of Rs 6,000. But he anticipates that this will increase to Rs 18,000 in another six months.
The 21-year-old lives with his parents and spends about Rs 3,000 a month. That allowed him to start a monthly systematic investment plan of Rs 2,000. His father, too, encourages his long-term plans. He helped Moradia invest Rs 1.2 lakh in equity and is contributing Rs 10,000 monthly for incremental investments.
On this episode of BQPortfolio, Amol Joshi of PlanRupee Investment Services, charts out an investment strategy that will help Moradia save over Rs 7.5 crore in 25 years. It begins with a monthly SIP of Rs 19,000, stepped up by 10 percent every year. At the end of this plan, Moradia, at the age of 46, will not only have enough money to follow his footloose dreams, but also provide for the family he is yet to start.
Watch the full episode here: