Use the Retirement calculator below to determine your retirement corpus. The retirement calculator helps in figuring out how much one needs to grow their wealth before retiring.
|You Need to Save|
|Amount required for retirement|
|With Your Current Savings You Should be able to Save|
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The retirement calculator determines the retirement corpus, by advising a suitable plan to make investments to achieve the corpus over the years.
Planning your retirement helps in understanding how much money is needed to achieve financial goals post-retirement
Retirement planning isn’t rocket science. It is an equation that has to be linked with income and expenses. Plan it with experts!
Saving up for your retirement is one of the most important financial goals to plan for in advance. The sooner you start your retirement planning exercise, the easier it will be to save up the sum you need to retire comfortably. However, it can be extremely hard to determine how much you need to create your retirement fund at 60, when you are just in your twenties or thirties.
Here is where a retirement planning calculator can help. It is a useful online tool that helps you determine the amount that you need to save each month, to build the retirement corpus that you are aiming for. To arrive at this amount, the retirement planning calculator makes use of different inputs such as your current age, your retirement age, your expected retirement corpus and your current savings, among other things.
The retirement planning calculator is available for use online, and it comes at zero cost. So, you can use the online tool multiple times to determine the right course of action for this major life goal.
A retirement planning calculator works based on the inputs you provide. You need to enter the following particulars in the online calculator—• Your current age
Using these factors, the retirement planning calculator displays the amount that you need to save to build your target retirement corpus. It also shows you how much you will be able to build up with your current savings. These insights can be very useful if you want to plan ahead for your retired life.
You can revisit the calculations at regular intervals, like every year or every 3 years, and alter your investment plan accordingly if you need to.
A retirement calculator offers many benefits to the user. Check out the top advantages of using this online tool below.• More accurate retirement planning
Planning for your retirement involves factoring in various parameters. You need to account for the time left till you retire, the amount you have already saved up, and the inflation that you expect in the coming years. A retirement calculator does all this for you seamlessly and makes your retirement planning more accurate.• Comparison of different investment options
Retirement planning is not about investing in just one asset. You need a mix of different investment options to build your retirement corpus. With a retirement planning calculator, you can compare the various investment options available and understand how much each of them will help you save up by the time you retire.• Easy and free to use
Despite how complex retirement planning calculations may be, it is extremely easy to use the online calculator. You simply need to enter the details required as accurately as you can. Furthermore, this online tool is also free to use, so you can revisit your retirement calculations as many times as you need to and draw up a clear plan for your post-retirement life.
A retirement corpus is the total amount of funds you have accumulated at the time of retirement. The retirement corpus is the amount that you can rely on to meet your post-retirement needs and requirements, such as your day-to-day expenses and the cost of any life goals you wish to achieve during that life stage.
A retirement calculator takes into consideration your current monthly spending and your ability to save per month. This gives an approximate of amount that you will need to have for your retirement, to live your life undisturbed and balanced as it is now.
Yes. The calculator helps you to figure out how much you need to save at what rate of interest and for what period of time, to help you plan your retirement beforehand.
An ideal amount is based on your spending and lifestyle. The higher the spending’s, the higher should be your savings. To calculate the amount for your retirement, use Online Retirement Calculator above.