Do you want to plan your retirement? If yes, you are in the perfect place. Finlive's (In) retirement calculator brings you the most practical factors required to plan a retirement. Within a few clicks, you can measure your future expenses, target investments, and the capital required to achieve your happy retirement journey. So, let's discuss how you can use the retirement calculator.
Let's understand the meaning of the inputs and outputs of the retirement calculator:
Planning retirement using the Retirement Calculator is pretty simple and easy too. You only need to provide a few inputs and click on the Calculate Now button. Let's Understand the calculator with an example:
In the following example, we will discuss a guy with a current monthly expense of 40k, and his age is 30. He expects his expense rate will increase by 2% annually due to his improved lifestyle. He expects that he shall retire from his job on his 55th birthday. He also expects his post-retirement expenses will increase by 5% each year due to some medical expenses. Now, with this criteria, the person wants how much corpus will be sufficient to fulfill his post-retirement expectations. So let's fill in the Retirement calculator:
Current Monthly Expense (Rs.): 40,000
Your Age: 30
Retirement Age: 55
Life Expectancy: 80
Est. Annual Inflation Rate: 4%
Pre Retirement Lifestyle Expenses Growth Rate: 2%
Post Retirement Lifestyle Expenses Growth Rate: 5%
Post Retirement Annuity/ Investment Rate: 5%
Now, with these inputs, we will get an estimated amount of 9 Cr. that will be required for the person during his retirement. Not only this the Retirement Calculator will also present how much you need to invest periodically to achieve his retirement goal. Isn't that great? Let's plan your retirement. If you need more information or any suggestions please provide your inquires and comments in the comments section.