# How much to save for Retirement Calculator – in Indian Rupees

Find out how much money you need to save to reach your early retirement goals. This calculator tells how much to save monthly based on current investments

## How much to save for Retirement Calculator

This calculator helps you calculate and figure out how much you need to save in total and per month in order to retire. This is based on how much you need to retire, how much you have saved so far and interest earned on savings.

Enter you age as of today

### Anticipated Retirement Age

At what age you are planning to retire

### Current Retirement Savings

How much money you have saved so far towards retirement. This can include funds in your PF, VPF, PPF accounts too.

### Annual Interest rate

This is the interest rate you will be getting on the amount you saved and invested in order to retire early.

### Amount at retirement

This is an important one. Mention how much money you need in order to retire early. As a simple way, you can apply the 4% rule to achieve this number. To do this, calculate your annual expenses. Then multiply that by 25. Eg: If my total monthly expenses is Rs.50,000, then annually I need 6,00,000 (Rs.50,000 X 12 months) to survive. 6,00,000 X 25 = Rs.1,50,00,000. This is the total amount I need to retire.

## How to use the How much to save to Retire Early calculator

Once you have entered all the above fields, click on the blue button “Calc”. This will calculate how much money you need to save per month, as well as, number of months to invest money, how much invested and interest earned in Indian Rupees (INR). You will also see the final Corpus you will have for retirement and the last deposit date, this is the date after which you can retire.

### Other features in the Home loan EMI calculator

• Payment Schedule: This will show the monthly EMI breakup along with how much of the EMI goes towards Principal and how much of it is for the interest throughout the loan tenure.
• Print: This feature allows you to take a print of the details for easier reference
• Charts: This gives you a visual representation of your loan, how much interest and principal needs to be paid and other interesting details
Is it possible to retire early in India?

It is ABSOLUTELY possible to retire early in India. Lot of people have done it on regular salary and non-Millionnaire parents. Little Saves shows the journey to retire by age 40 with total savings of Rs.5,00,00,000 (5 crores).

At what age can I retire?

This depends on how much money you need to survive every month and how fast you can save up a corpus of investments that can give you this monthly returns. Eg: If you need Rs.50,000 per month for living expenses, then you need savings and a corpus that will give returns (plus a partial drawdown) to support this per month.

How can I calculate the money I need for retirement?

The easiest way to calculate how much you need to retire is using the 4% rule. This rule assumes that you withdraw 4% of your corpus (adjusted for inflation) on a yearly basis. So to calculate how much you need, multiply your Annual expenses by 25. Eg, if you spend Rs.1,00,000 per month, then you need Rs.12,00,000 per year. Multiply this by 25. You will need Rs.3,00,00,000 (Rs.3 crores) to retire.

How to retire earlier?

Once you have decided how much you need for retirement, you have two options to retire earlier. You can save more by earning more, doing side jobs, freelancing and also cut down on expenses. Alternately, you can cut down on your expenses during retirement (Lean FIRE or firing lean) to reduce the corpus you need for retirement.

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#### Abhi

Abhi is a 29 yr old Indian, on FIRE to retire by 40. He has been investing and learning Finance for the past 12 years. After completing Mechanical engineering, he started working in a multi-national Bank and grew to become an AVP. Currently with an IT MNC as a VP. He lives in Bangalore with his wife and their 1 year old daughter. In his free time, Abhi loves to game on the Xbox, watch movies, read and blog.