How to create a retirement corpus for my parents

While you have mentioned the age of your parents, you have not mentioned the age at which they will retire.

We are assuming that you have 12 years time (if we consider age 60 as retirement age – higher current age of 48) in which you have to build a corpus which is enough to get Rs 30,000 a month. Also assuming that the corpus so accumulated will be invested in mutual funds from where your parents can draw the fixed amount of Rs 30,000 through monthly SWP.

We suggest that you should target to accumulate a corpus of Rs 40 Lakhs (assuming you can draw 0.75% per month as SWP) to meet this goal.

Please check - What is SWP https://www.advisorkhoj.com/licmf... and how it works https://www.advisorkhoj.com/mutual-funds-research...

Since you have 12 years time in hand, you can start monthly SIP of Rs 12,500 in equity mutual funds to reach this goal (we have assumed that you can get 12% annual returns on your SIPs in the long run) – Please refer this tool https://www.advisorkhoj.com/tools-and-calculators...

Hope the above is helpful.