Why Should You Plan for Your Retirement?
Did you know that from the very first day you receive money, not at your job, but the pocket money you received as a child, you have been an ‘investor’?
Think back to the first day you received pocket money.
You most likely spent it on food, toys, games, movies and other entertainment, and travel.
How much of it did you save?
Not much, if you were like most children in school and college.
You invested in instant gratification, as do most youngsters.
From this young age, your activities, your spending patterns, formed a habit. Your investment behavior started to get set. Your investor psychology began to solidify.
Then you got your first job and started to mingle in the workplace.
At work, you interact with your colleagues, slowly you hear about people making investments in Tax saving mutual funds, or in their PPF. Your HR talks to you about EPF so you know about that too.
You glean investment facts haphazardly from your colleagues and without really verifying the data, make further investment decisions.
For the next few years, your focus is mainly on saving tax and then you start to think about your life goals. You get married, then have children, educate your children, somewhere along the line you buy a home by taking a home loan.
Retire with dignity, sounds great in itself. Ensure that the time when you retire you should be liable in carrying enough funds, which prospers in meeting with your expenses by maintaining the same established life style. Just do not let your financial worries spoil your precious retirement days. Initiation of savings habits today in your financial career can help you to realise your dreams after your retirement.
As soon as many of us reach the stage of retirement, the disability in our financial status becomes a major area of concern. During this period, the income generally stops but the expenses do not. In order to realise your dreams of retirement, we help you every step of the way in making a successful planning for you.
How crucial is retirement planning for you? What time appears to be best for you to invest? How planning in advance turns out to be fruitful for your coming years? Our experts can help you with the best solutions to the above questions and any other that may be of concern to you
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Choose excellent retirement planning related services from us and let your money grow for your previous retirement years.
Retirement Calculator
You have now seen why it is important to plan for your golden years, and more importantly, how you should plan for your retirement.
Now, you need to know how much money you will need to retire in peace. This calculator will help you figure that out.
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| Your Age | yrs | ||
| Retirement planned at age… | yrs | ||
| Life expectancy | yrs | ||
| Current Monthly Household Expenditure | Rs | ||
| Time to retirement | yrs | ||
| Expected inflation per year | % | ||
| Monthly Expenditure – at retirement age | Rs | ||
| Annual Expenditure – at retirement age | Rs | ||
| Provision for travel, healthcare annual expenditure | Rs | ||
| Travel, healthcare will inflate by | % | ||
| Travel, healthcare at time of retirement | Rs | ||
| Annual expenditure at retirement | Rs | ||
| Post retirement expected inflation | % | ||
| Post retirement life expectancy | yrs | ||
| Expected return per annum post retirement | % | ||
| Corpus required at time of retirement | Rs | ||
| Investments already made for retirement | Rs | ||
| Growth expected per annum in the investments | % | ||
| Investments corpus at time of retirement | Rs | ||
| Additional Corpus Required | Rs | ||
| Per Month Investment Required | Rs | ||
| Now you know exactly how much money you need to retire peacefully! The next thing to do is achieve this corpus. | |||
| With the right planning and investments, you can certainly retire in peace! | |||