HOW MUCH DO YOU NEED TO RETIRE?

To arrive at the sum you need, you have to factor in expenses when you retire, years you have left to save and how much you require to save

- Narayan Krishnamurthy

UNDERSTANDING RETIREMENT NEEDS

Is Rs 1 crore enough to retire comfortably? To accumulate Rs 1 crore, you need to invest Rs 15,000 a month for the next 15 years in an instrument that earns 15 percent returns. Now, this monthly investment could go up if the investment earns a lower return or when the time to reach this goal is shorter than 15 years. However, savings towards retirement is not about how much money you accumulate, it is about how much income you will draw from the retirement savings to manage your retired life.