Retirement Period in months = 240 months. (Life Expectancy of 80 years – Age of Retirement of 60 years). Income required in retirement = Rs 18,02,586 We will calculate the retirement corpus to generate an annual income of Rs 18,02,586 at the start of the retirement period. The annual income you require immediately after retirement is Rs 18,02,586. You convert the monthly amount into a yearly figure by multiplying by 12 >n= time to retirement (60 years – 35 years) = 25 years. What is the retirement corpus you need on investing the retirement savings in a bank FD which offers an 8% yield? (Assume Inflation at 6%) You are presently 35 years old and plan to retire at 60 years of age. Suppose you require a monthly income of Rs 35,000 in retirement. Let’s understand the working of the retirement planning calculator with an example. It will also calculate the corpus, which will generate the income you need in retirement. The retirement planning calculator will estimate the amount you require in retirement. How does a retirement planning calculator work? The retirement planning calculator will show you the annual income you require at retirement, the additional amount you must acquire for your retirement, and the monthly savings to accumulate the retirement corpus you desire. You must also choose the expected inflation rate (a good guess would be 6-7% a year), expected return on investment, and if you have set aside any amount for retirement. The retirement planning calculator has a formula box where you select your present age, the age at which you plan to retire, the life expectancy, and the monthly income you will need in retirement.
It shows you the amount of money you need to maintain your current lifestyle after retirement. The retirement planning calculator will serve two primary purposes. It helps you to plan your investments to get the desired retirement corpus at the time of retirement. What is a retirement planning calculator?Ī retirement planning calculator is a utility tool that shows you the amount of money you need after retirement.
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