BQPortfolio: Is Ashwin Pagaria’s Goal Of Saving Rs 10 Crore In Eight Years Realistic?
Ashwin Pagaria is living frugally now to have a better life after the age of 40. Will he be able to save enough?
BQPortfolio speaks to citizens from across India about their financial goals and helps them access expert advice on how to achieve them.
Ashwin Pagaria, 32, wants to be financially secure at the age of 40 and anticipates that he would need to save Rs 10 crore in eight years.
The Palghar resident earns Rs 25 lakh annually and is able to limit his expenses to Rs 7.2 lakh per annum—a pre-tax savings ratio of 71 percent.
Besides an annual savings of Rs 17.8 lakh, Pagaria has invested Rs 50 lakh in a flexi-fixed deposit and has a balance of Rs 6 lakh in a Public Provident Fund account. He also has investments worth Rs 12 lakh in equity and mutual funds.
Pagaria wants to continue to work after 40 but is living frugally now to have a better life then.
On BloombergQuint’s special show, Portfolio, Amit Trivedi, author and mutual fund expert, helps Ashwin plan his investments.