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How much money do you need to retire? Start with expenses, not a ₹1 crore target
Mint 2d ago·28 Aug 2026, 12:45 pm
Planning for retirement requires a clear understanding of your financial needs rather than relying on a generic savings goal. A common mistake is setting a fixed target, such as ₹1 crore, without considering individual circumstances. Your actual requirement depends on your current lifestyle expenses, the rate of inflation, how long you expect to live, and the income you might receive from sources like the Employees' Provident Fund (EPF) or pension. Calculating a corpus based on these specific factors ensures you have sufficient funds to maintain your standard of living throughout your retirement years.
For investors, this means focusing on a personalized budget to estimate future expenses. It is also crucial to factor in the expected returns from your investments, as these will help your money grow over time. Since inflation can erode purchasing power, your savings must grow faster than the cost of living. By starting this assessment early, you can create a realistic roadmap to achieve financial security in your later years.
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