The retirement calculator allows you to choose the right mutual fund schemes as you know how much you have to save and gives you the time-frame as well.It helps you plan your working life better as well, ensuring that you are well-placed to live your retired life in peace. It helps you plan finances better, to check how far away from your goal you are.It also takes into account how much your retirement corpus will generate, so that you do not find yourself running out of money during the later years. The retirement calculator takes into account both inflation during your working years and your retirement years.Retirement calculator comes in handy to estimate how much you need to live comfortably once you retire.Monthly investment needed (Rs): Monthly investment required to reach the retirement corpus. Number of years left to build corpus: The difference between your current age and your retirement age – or how many years you have to invest to build your corpus. It tells you how much more investment has to be made for retirement. Total Corpus needed for retirement: The amount of money needed to fund your lifestyle from the time of retirement for your expected life spanįuture value of current investments: The market value, at retirement age, of the investments you have made so far that are pegged for retirement corpusĬorpus required to be built: The difference between the total corpus needed for retirement and future value of your investment made so far.
Monthly expense at the time of retirement: How much your monthly expense will be post retirement, based on the inflation and current expenses you entered. Period for which the income is needed: It is the difference between the retirement age and expected life span. Pre-retirement investment return: The returns you expect from your investments that you are using to build the retirement corpus. Bear in mind that your post-retirement portfolio will be dominated by debt-based fixed-income investments and not equity. Post-retirement investment return: The returns you expect from your investments that you make in your post-retirement portfolio. You can use average inflation rates for the same. Do not include investments meant for other goals such as your children’s education.Įxpected Inflation: The rate at which general prices of goods and services are expected to increase every year. Inputs at stage 2 of retirement calculatorĬurrent value of existing investments: The current market value of investments you have made so far which you have marked for retirement. Be more conservative in this estimate and go for a longer lifespan to reduce the chances of you outliving your corpus. Retirement age: The age at which you want to retireĮxpected Life span: Age until which you expect to live or till which you expect your retirement corpus to last.
Add a component for medical expenses, if you do not have it currently. Here, exclude expenses that you are unlikely to have post retirement such as servicing home loan or rent if you will not have such expense. Inputs at stage 1 of retirement calculatorĬurrent monthly expenses: The expenses that you incur every month. The retirement calculator is split into two stages, and following are the inputs required:
#Retirement living expenses calculator how to#
The retirement calculator will help you understand how much corpus you need to create before you retire and how to plan for it. This will act as a guide in the meeting your retirement goal. The retirement calculator takes into account your personal details such as current monthly expenses, your current age, the age at which you wish to retire and expected life span. This retirement planning calculator will help you build enough wealth which ensures that you are able to continue your lifestyle even after your retirement. A retirement calculator is a simple tool that helps you find the amount of money you will require after you retire.
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