BQPortfolio: Germany-Based Khalid Anjum Wants To Retire In India In 15 Years
Khalid Anjum, who resides in Germany, wants to retire at the age of 52 and move back to India in 15 years.
He invested Rs 32 lakh in mutual funds and has another Rs 30 lakh lying in a savings bank account, which he wants to invest. The 37-year-old’s goal is to set aside Rs 2.5 crore over the next 15 years, assuming that living costs in India are much lower than they are in Munich.
Now, this amount might have been enough, but Khalid does not own a property in India. Also, he’s hesitant to make a purchase now because he’s unsure of which city he wants to settle in.
Gajendra Kothari, managing director and chief executive officer of Etica Wealth Management, said Anjum will likely need the entire Rs 2.5-crore corpus to buy a house in one of India’s metro cities 15 years from now. Kothari advised Anjum to set aside Rs 45 lakh—the amount he already has—to achieve his first goal. For his retirement, he will have to start saving from scratch. The good news, however, is that Anjum has an investible surplus of Rs 7.5 lakh a year.
On this episode of BQPortfolio, Kothari tells Anjum how he should manage his investments to achieve his long-term goals.