Retirement Planner
Estimate the corpus needed for a comfortable retirement, accounting for inflation, longevity, and existing investments.
- • Bridge the shortfall by raising SIPs, adding lump sums, or extending work years.
- • Stress-test inflation and return assumptions for conservative planning.
- • Keep an emergency fund for medical contingencies beyond this projection.
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Enter your current age, expenses, and investments to evaluate retirement readiness.
What is Retirement Planning?
Retirement planning is the process of determining retirement income goals and the actions and decisions necessary to achieve those goals. It involves estimating how much money you'll need to live comfortably in retirement and developing a plan to accumulate that amount through savings, investments, and other sources.
Effective retirement planning considers factors like life expectancy, inflation, investment returns, and lifestyle changes, ensuring you maintain your desired standard of living throughout retirement.
How Does the Retirement Calculator Work?
Our Retirement Calculator helps you assess if you're on track for a comfortable retirement. It operates by:
- Corpus Calculation: Determines the retirement corpus needed based on your current expenses, inflation, and life expectancy.
- Projection Analysis: Calculates your projected savings at retirement age using current investments and contributions.
- Gap Identification: Highlights any shortfall between required and projected corpus.
- SIP Recommendations: Suggests monthly investments needed to bridge the gap.
- Growth Visualization: Shows corpus growth trajectory with a composed chart comparing projections against requirements.
Provide your current details to get personalized retirement readiness insights and actionable recommendations.
Advantages of Retirement Planning
Financial Security
Ensures you have sufficient funds to maintain your lifestyle without depending entirely on family or government support.
Peace of Mind
Reduces anxiety about the future by providing clarity on your financial preparedness and retirement goals.
Inflation Protection
Accounts for rising costs over time, ensuring your retirement savings maintain purchasing power.
Tax Optimization
Helps structure investments to minimize tax liabilities through various retirement savings schemes and deductions.
Long-term Discipline
Encourages systematic saving habits that compound over decades, building substantial retirement wealth.
Flexible Lifestyle
Allows you to pursue passions, travel, or start new ventures without financial constraints in retirement.
Key Considerations for Retirement Planning
- Start Early: The earlier you begin, the more time your investments have to grow through compounding.
- Life Expectancy: Plan for 25-30 years of retirement, as medical advancements increase lifespan.
- Healthcare Costs: Factor in rising medical expenses, which can significantly impact retirement budgets.
- Inflation Impact: Use realistic inflation rates (4-6%) to avoid underestimating future needs.
- Investment Diversification: Spread investments across asset classes to manage risk and optimize returns.
- Emergency Fund: Maintain 6-12 months of expenses as emergency savings before retirement.
- Regular Reviews: Reassess your plan annually to adjust for life changes, market conditions, and new goals.
- Professional Guidance: Consult financial advisors for personalized strategies and complex tax situations.
Frequently Asked Questions
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