Retirement Calculator

A retirement planning calculator serves as a valuable tool to help individuals assess and plan for their financial needs during retirement. 

• Set your travel, expense, lifestyle goals for retirement

• Evaluate your current income, savings, investments and debts

• Use our retirement calculator to estimate how much you wealth you will save at the time of your retirement

• Create a budget considering expected income sources and projected expenses during your retirement

• Contribute regularly to retirement accounts like 401(k)s, IRAs, etc.

• Build a diversified investment portfolio aligned with your risk tolerance and retirement timeline. Consider a mix of stocks, bonds, mutual funds, and other assets.

• Aim to reduce high-interest debts before retirement

• Identify healthcare coverage options and estimate healthcare costs during retirement. 

• Explore potential sources of post-retirement income

15 lakhs alone might not be enough for retirement unless it's supplemented by other income sources. If this amount represents your entire retirement savings, it is important you evaluate whether it covers your expenses. 

1 crore is a good retirement fund, however, it entirely also depends on your lifestyle, expenses, and passive income sources. For some, 1 crore might be enough to sustain a comfortable post-retirement life, while for those with higher expenses or longer retirements, it might fall short.

A retirement calculator works by taking inputs such as current savings, expected contributions, retirement age, life expectancy, and anticipated rates of return and inflation. It uses this data to estimate how much money you will have available during retirement.

The purpose of calculating retirement savings is to determine whether you are on track to meet your financial needs in retirement. It helps you assess how much you need to save and what adjustments you might need to make to your savings strategy.

Yes, a retirement calculator can help you model different retirement ages by adjusting inputs like the age you plan to retire, allowing you to see how changing your retirement age affects your savings needs and potential income.

Factors that affect retirement savings calculations include current savings, contribution rates, investment returns, inflation rates, retirement age, and life expectancy.

To account for inflation in a retirement calculator, you typically input an expected inflation rate, which the calculator will use to adjust the future value of your savings and expenses, ensuring your calculations reflect purchasing power over time.

A retirement calculator is a tool for estimating savings and future income, while a retirement planner often includes a broader range of services, such as personalized financial advice, investment strategies, and ongoing management of retirement funds.

Yes, you can use a retirement calculator for early retirement planning by inputting an earlier retirement age and adjusting your savings goals and withdrawal rates accordingly to see how it affects your overall financial plan.

Retirement calculators can provide useful estimates, but their accuracy depends on the inputs you provide and assumptions made about returns, inflation, and expenses. They should be used as a guide rather than a precise forecast.

A common guideline is to save 10% to 15% of your income for retirement. However, the ideal percentage may vary based on individual financial situations, retirement goals, and the time remaining until retirement.

Yes, you can use a retirement calculator to set aside funds for specific goals like travel. By inputting your desired expenses for these goals, you can adjust your savings plan to ensure you have enough money allocated for them during retirement.