How to open your dream eatery at 50

Anshul, a 32-year-old professional working at a multinational corporation, has set himself three financial goals. First, he wants to retire at 50. The second is to pursue his passion for cooking by opening a small eatery or restaurant after retirement. In addition, Anshul wants to secure enough funds for his four-year-old daughter's higher education. With a monthly take-home income of Rs 1.2 lakh and expenses of Rs 80,000, he is left with a surplus of Rs 40,000 to invest. Can Anshul achieve these goals with his current savings and investments? Let's break it down. Daughter's higher education The goal: Anshul wants to provide Rs 15 lakh (today's value) for his daughter's higher education when she turns 18, i.e., in 14 years. Considering an inflation of 6 per cent, this amount will grow to Rs 34 lakh by the time the funds are needed. Where he stands today: Anshul already has Rs 12 lakh invested in a combination of mutual funds and stocks. Assuming a conservative growth rate of 12 per cent annually, this investment will grow to approximately Rs 48 lakh in 14 years. This is more than

This article was originally published on January 15, 2025.