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Below is Perspective on How to get blessings from Goddess Lakshmi and create wealth By Dr Vikas Gupta, CEO and Investment Strategist, OmniScience Capital

Diwali is a good time to think about your current and future family wealth. You should consider that you require nearly 500-600 times of your current monthly expenses at retirement to live the same lifestyle without risk of running out of money in your old age. This assumes that the retirement is more than 15-20 years away. Also consider the rule of 15-15-15 that 15000 invested monthly for 15 years in an asset class—typically equity—which generates 15% per annum could build a corpus of Rs. 1 crore.

While this is not investment advice which one should take from their financial advisor, a person around 45 years of age, with monthly expenses of Rs. 1 lakh, should, ideally, invest an additional Rs. 1 lakh monthly in equity during their remaining working life to build their retirement corpus of around Rs. 4 to 6 crores. If the actual returns are lower then it might take a few years longer but it is still likely to be in crores. Addition of lumpsums could get there faster.

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