Start up. At 60?

Life comes with several responsibilities.
Initially towards parents, then spouse and then children.
And middle age is usually spend fulfilling responsibilities towards all the three.
Yes, there are a few whose families are supportive towards starting up at 30,35 or even 45.
However, ever given a thought at starting up at 60?
Don’t feel bemused.

In fact there are quite a few companies which were started off by seniors.
Captain CP Krishnan Nair founded Leela Hotels in 1987. He was 65 then. He passed away at the ripe old age of 92 in 2014. Between 65 and 92 he was sprightly enough to not only launch chains of The Leela all across the country but also took it public.

Does Colonel Sanders ring a bell? It doesn’t? Well here you go:

Col Sanders became a professional chef at the age of 40, acquired the franchise of KFC at 62 and sold it for $ 2 million in 1965 at the age of 75.

What about Charles Flint? Well what about him?
He started the company which we now know as IBM. At the age of 61

Have a housing loan? It should most likely be from HDFC – which was started by Hasmukhbhai Parekh when he was 68.

So you must be saving and investing to get your children educated, take your family for holidays, retirement, buying a holiday home and for unforeseen circumstances.
But did you have a dream to start up? And reading about all those young rockstars who have made it big makes you feel you could do better! Or just start up! After all, it is this life that counts.
Why not create a start up fund? Start investing Rs 10,000 per month in a credible mutual fund. Even when you are 45, you have another 15 years to go. Do you know how much will it be worth when you are 60?

Assuming growth of a conservative 15% per annum, you are likely to land up with Rs 67.6 lakhs when you are 60. Even if you take inflation into account it is worth close to Rs 25 lakhs as on today.

Not a bad figure to use as start up capital eh?

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