Retirement planning is a crucial aspect of financial management, especially for middle-class families. It ensures a steady flow of income when you can no longer actively work. With our Retirement Planning Services in India, we help you create a reliable financial plan that aligns with your lifestyle and future needs.
A phase of dependence on parents for all needs.
Another dependent phase focusing on education and skill development.
The earning phase where responsibilities toward family and self increase.
A phase where earning capacity diminishes, but expenses remain.
The retirement planning process starts during your working years. It involves:
Proper retirement planning eliminates these worries, ensuring financial independence and peace of mind.
Heres how starting early impacts your required monthly investment:
Starting Age | Retirement Fund | Monthly Investment | Investment Multiplier |
---|---|---|---|
25 | ₹ 2.63Cr | ₹ 750 | 83.5 times |
30 | ₹ 1.97Cr | ₹ 1,400 | 40 times |
35 | ₹ 1.47Cr | ₹ 2,500 | 19.5 times |
40 | ₹ 1.10Cr | ₹ 4,700 | 10 times |
45 | ₹ 82Lakhs | ₹ 12,100 | 3.75 times |
50 | ₹ 61Lakhs | ₹ 26,400 | 1.95 times |
55 | ₹ 46Lakhs | ₹ 62,000 | 1.25 times |
From the table, we can see that starting your retirement planning early makes it significantly easier and more achievable. When you begin early, the amount you need to save each month is much smaller, giving your money more time to grow. However, the later you start, the higher your monthly savings need to be, which can become difficult or even impossible for most families.
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