Retirement Planning Calculator in India

Retirement Planning Calculator in India can help you to know the monthly savings you need to make via SIP (Systematic Investment Plan) in a good mutual fund to achieve FIRE (Financial Independence and Retire Early).

Below Retirement Calculator with Inflation helps you to know your future monthly expenses and plan your savings accordingly to get accumulated corpus for retirement.

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Retirement Planning Calculator with Examples Video

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What is Retirement Calculator used for?

Retirement Planning Calculator can be used to know the amount of savings you need to make every month to retire at a specific age in future
This calculator can be used to plan your early retirement instead of retiring at normal age of 55 or 60 years
Above Retirement Planning Calculator for India also includes Inflation that is increasing with time. You can refer to Cost Inflation Index table here
With the increase in cost, your monthly expenses will also increase and this updated monthly expenses should be considered for your retirement purpose
In this way, Retirement Planning Calculator can help you consider all required factors and accumulate required amount so that you enter in your retirement phase and no longer have to work for money, but instead, your accumulated money works for you and provides you returns or interest income to cover your monthly living expenses

Factors to be considered to Retire Early

Below are 3 important factors to retire early:

Monthly Expenses: Your monthly living expenses should be low in order to successfully retire early. Higher the expenses, more time it will take you to accumulate the amount needed to retire. Ideally your monthly expenses should be lower than monthly income so that you save some amount every month
Monthly Income: You can try to increase your monthly income in order to reach your financial target before time
Investments: It is very important that you invests your savings resulting from low monthly expenses. Higher savings rate can help you to achieve retirement early

How Retirement Planning Calculator works to calculate Retirement Amount?

The working of Retirement Planning Calculator in India is quite simple:

You need to provide your current age and expected Retirement age in Retirement Calculator
Next provide your current monthly expenses and the expected rate of inflation in upcoming years
The future monthly expenses will be calculated using current monthly expenses and rate of inflation based on your retirement age
Next you need to provide expected rate of return from mutual funds that can help your money grow over time
Also you need to provide the Saved Amount you have accumulated so far that can be used for your Retirement Planning
Using above input in calculator, you will get the calculated Monthly Savings Needed that you can save via SIP in mutual funds along with Total amount needed that should be your target before Retirement phase

Does this Retirement Calculator include Inflation Cost?

Yes the above Retirement Calculator in India considers Inflation rate as well while calculating your future expenses once you enter your Retirement phase.

What is 4% Withdrawal Rule in Retirement Calculator?

4% withdrawal rule is one of the popular rule to withdraw systematically from your accumulated corpus amount. According to this rule you should reach your total corpus in such a way that maximum 4% should be withdrawn from your accumulated amount to cover for your monthly expenses.

If the withdrawal covers the expenses and your money also grows automatically than you are ready to retire, and if not than you need to accumulate more for some more years to reach that target or financial goal.

Conclusion

So Retirement Planning Calculator can help you to know the monthly SIP you should be doing up to the retirement age so that you can enjoy your retirement phase without have to work for money.

It does not mean you don’t work at all but you can start up a business in your passion that you always wanted to start or travel around the world provided the expenses are not more than the returns you get from your accumulated amount.

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Found this Helpful? DONATE any amount to see more useful Content. Scan below QR code using any UPI App!

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Income Tax Calculator App – FinCalC

For Income Tax Calculation on your mobile device, you can Download my Android App “FinCalC” which I have developed for you to make your income tax calculation easy.

What you can do with this mobile App?

Calculate Income Tax for new FY 2024-25 and previous FY 2023-24
Enter estimated Investments to check income tax with Old and New Tax Regime
Save income tax details and track regularly
Know how much to invest more to save income tax
More calculators including PPF, SIP returns, Savings account interest and lot more

Download Income Tax Calculator APP from play store

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