I have 1.2 CR in FD, 80L in EPF, 2.08 CR in MF’s and 64L in stocks with a house loan free. Can I retire at 45? I have a daughter who is 11.

 

I am 44, have 1.2 CR in FD, 80L in EPF, 2.08 CR in MF’s and 64L in stocks with a house loan free. Can I retire at 45? I have a daughter who is 11.

Yes you can.

Based on the provided data, total amount in hand = 120+80+208+64 = 4.72cr

If you put the amount in Mutual funds and start an SWP with assuming 10% returns you can withdraw 2.1L (1.85L after taxes) every month and increase the withdrawing amount by 20k every year for the next 40 years.

If this amount works for your kid’s education and marriage and your family expenses then you can go ahead and retire .

I assume the school fees now will be around 1.2L and for college you would need 25L approx based on the inflation.

Schooling : ~9L

College: ~25L (Assuming she will do engg in India in a decent college)

Marriage: ~30L

Total : 64L

I would suggest keep the 64L in a separate MF and keep it for your daughter, It will increase along with inflation.

Put the remaining 4Cr in good MF and start a SWP( You will get 1.6L per month after taxes and you can also increase the withdrawing amount by 15k every year for the next 40 years)

Take a good health insurance, don’t compromise on that and spend the remaining money as you want :) Go for movies, take vacations or buy anything that makes you happy :)

I personally believe 1.6L every month in hand is more than comfortable as of today since you don’t have any rent as well.

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