How much you will need for retirement – Times of India

Step one is to set a course – how much do you need to save to maintain your desired standard of living through retirement?

"How much money do I need to retire?" Some experts suggest saving 1 percent of your salary by age 30, increasing every year until you have 10 times your salary saved at age 67. Others suggest $1.

Retirement is one of the most important stages of your life for which you work and should save for. With the break-up of the joint family system in India, increase in longevity (life expectancy) due to advanced medical innovations, shorter work-span and lower job security; ‘ Retirement Planning ‘ assumes greater importance.

As a thumb rule, you should aim to save 25 times your desired post retirement annual income in order to have a comfortable retirement. If you manage your investments properly, you should get a return of 10-11 % over the long term as compared to estimated inflation rate of 6-7 %.

"If you save a crore by the time you are 40, and don’t touch this amount until you are 65, your corpus will grow to Rs 16 crore, assuming a 12 per cent CAGR. The additional Rs 15 crore is pure.

A question for you /r/india: how much money do you need to retire today?By "retire", I mean never having to work for money. Note that the question is necessarily personal – I am not asking how much does "a typical middle-class guy with a family of 4 to feed" need.

My point is, while retiring early it is extremely important to account extreme situations and that comes with age and/or experience. Let us go through an early retirement planning calculation to illustrate my point. Consider an individual (or couple) who is(are) planning for 40 years in retirement.

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Further, you can use this Retirement Calculator to find out the future value of your current expenses. If you wish to live a better lifestyle of what you are living you need to know the necessary retirement funds needed. Retirement calculator helps you understand how much you need to grow your wealth before you retire and plan for it accordingly.

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