How to save for retirement in India ?
Planning for retirement in India requires a disciplined, long-term strategy to combat inflation, ensure financial security, and maintain your lifestyle. Here’s a step-by-step guide to building a robust retirement corpus: --- ### **1. Calculate Your Retirement Corpus** - **Rule of Thumb**: Aim for **25–30x your annual expenses** at retirement. - *Example*: If your monthly expense is ₹50,000 (₹6L/year), target **₹1.5–1.8 crore**. - **Adjust for Inflation**: Use a retirement calculator (e.g., **ET Money**, **ClearTax**) factoring in 6% inflation. --- ### **2. Start Early & Leverage Compounding** - **Why?** Starting at 30 vs. 40 can double your corpus (see table below). - **Example**: - ₹10,000/month SIP at 12% return for 30 years = **₹3.5 crore**. - Same SIP for 20 years = **₹1 crore**. | **Age You Start** | **Monthly SIP** | **Corpus at 60 (12% return)** |...