Reply to "Is 5.5 Cr enough" Post
Somebody posted if 5.5 Cr is enough, I thought will reply in the free time, but meanwhile the post is gone. Probably bro who posted original thread, didn't get any helpful reply. Hence created this post.
TLDR: 5.5 Cr is enough if 1.3L per month is enough and house is paid off.
Assumptions:
Current Liquid networth: 5.5 Cr
Inflation: 6%
Tax Rate: 30%
Expected return on the capital: 10%
House: Paid off
Life Expectancy: Current age + 50 years
I feel about 3% withdrawal rate is good, provided the house is paid off. The corpus can last forever if the above variables hold.
How to get 10% in a tax efficient manner:
Use moderate risk equity saving schemes e.g. Not a recommendations but these come to mind: Kotak ESS and ICICI ESS.