We all retire one day. It is said post-retirement years are the golden period in everyone’s life. But yes, only if you plan properly for it.
Have you ever wondered “how much money you need as Retirement corpus to survive post-retirement period?”
Just an illustration below.
|Current Monthly expenses||
|Current annual expenses||420000|
|No. of yrs to retirement||30|
|Annual expenese @ retirement||Rs. 48,54,466|
|Rate of return post-retirement||9%|
|Real rate of return post-retirement||0.46%|
|No. of yrs post-retirement||20|
|Retirement corpus required to fund post-retirement expenses||Rs. 9,29,72,569|
It is never too late to save for retirement. I want to change this and say – “It is never too early to save for retirement“.
The earlier you achieve the retirement corpus, the earlier you can retire. Retirement doesn’t mean you will stop working – but you can stop working for MONEY. May be you can work on something you are passionate about and could not pursue due to hectic corporate life.
Vinay Kumar Laxman
Certified Financial Planner