Retirement Planning Calculator

Amount you want to have for your retirement (Rs)

Your age today (in years)

Age you plan to retire (in years)

The expected rate of inflation over the years (% per annum)

The expected rate of return on your investments (% per annum)

Your Current savings (Rs)

Retirement Amount (Inflation adjusted)

Rs.

Growth of your Savings Amount
(% per annum)

Rs.

Final Targeted Amount (Minus growth of your savings amount)

Rs.

Number of years you need to save

Years

Monthly Savings required

Rs.

Total Amount Invested in years

Rs.

Total Growth Amount

Cash Flow After Retirement

What Is A Retirement Planning Calculator?

Retirement planning is essential for every citizen, whether you are salaried or self-employed. However, certain aspects must be clear in your head because those questions will make it easier to plan your retirement.

The following are the primary factors to consider while determining retirement readiness:

At what age do you want to retire?
What is your current age?
What type of retirement do you want?
How do you want to save for retirement?

MFOnliner has a retirement planning calculator that would help you determine how much you would need to retire comfortably.

How Does MFOnline Retirement Calculator Help You?

A retirement calculator in India is beneficial for the following reasons:

To begin, the calculator will assess how much you need to save each month to retire with a substantial quantity of money at the end of your career.
A retirement benefit calculator can also assist you in determining the various investment choices that you should pursue.
You can also evaluate different retirement alternatives and plans provided by several reputable financial institutions.
A retirement saving calculator can help you find and evaluate the different retirement planning strategies that are available.
In addition, if you have any high-value goals for post-retirement, our calculator will assist you in saving for those scheduled spending sessions.
An online retirement calculator is useful when you are short on time and need to make decisions on such vital aspects as future investment options.

How Much To Save Up For Retirement?

For example, a 30-year-old would like to retire at the age of 60 and have monthly costs of Rs. 40,000/- for the next ten years after retirement. Taking into account annual inflation of 3%. After retirement, the individual will require a corpus of Rs. 58.18 lakhs. To begin saving for retirement, you would need to invest about Rs. 4000 every month.

How To Use MFOnline Retirement Calculator?

Simply enter the relevant information in the designated area, and the calculated result will appear immediately.

Advantages Of MFOnline Retirement Calculator?

The MFOnline calculator is a financial tool that can determine the exact amount you need to save each month. It will also assist you with long-term investment planning. The following are some of the advantages:

It is an easy and reliable tool to use. It also saves time from unnecessary manual calculations
It uses a standardized method to calculate the money needed for a comfortable retirement and is a one-click solution.

Online Retirement Calculator-FAQ's

I work in a privately owned company. Should I have a private retirement plan?

Yes, anybody who wishes to plan for their future retirement or get peace of mind once they retire can use the retirement services.

What is the ideal amount I need to save for my future?

The first and foremost thing to consider is rising inflation every year. Keeping that in mind, a corpus of Rs. 1 crore is enough, but it takes years to accumulate such wealth, and honestly, it requires investing wisely.

What are some of the most recommended investment avenues?

Suggested investment options for maximum returns are as follows.

Investing in Mutual funds.
Stock market
PPF
National Pension Scheme
Atal Pension Yojana

Can I take my pension as a lump sum?

When you reach the age of 55, you have the option of taking a lumpsum payment of some or all of your pension. The first 25% of your retirement money can be taken tax-free, but any further withdrawals will be subject to tax. If you don't take your entire pension in a lump sum, you could pay less tax.

How much is enough for retirement in India?

In India, a middle or upper-middle-class family needs a minimum monthly fund of Rs. 50,000-60,000/-. However, how comfortably you wish to retire ultimately relies on your own needs.

Disclaimer : We have gathered all the data, information, statistics from the sources believed to be highly reliable and true. All necessary precautions have been taken to avoid any error, lapse or insufficiency; however, no representations or warranties are made (express or implied) as to the reliability, accuracy or completeness of such information. We cannot be held liable for any loss arising directly or indirectly from the use of, or any action taken in on, any information appearing herein. The user is advised to verify the contents of the report independently.

Returns less than 1 year are in absolute (%) and greater than 1 year are compounded annualised (CAGR %). SIP returns are shown in XIRR (%).

The Risk Level of any of the schemes must always be commensurate with the risk profile, investment objective or financial goals of the investor concerned. Mutual Fund Distributors (MFDs) or Registered Investment Advisors (RIAs) should assess the risk profile and investment needs of individual investors into consideration and make scheme(s) or asset allocation recommendations accordingly.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Past performance may or may not be sustained in the future. Investors should always invest according to their risk profile and consult with their mutual fund distributors or financial advisor before investing.