Is 1 Crore Enough To Retire? How to plan your retirement?
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- เผยแพร่เมื่อ 21 ก.ย. 2024
- Retirement Calculator
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A retirement plan is a type of life insurance plan designed to fulfil the post-retirement needs of an individual. It helps create a corpus amount and generate a regular income after retirement in the form of a pension. Hence, it is also known as a pension plan.
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1crore is more than enough if your target is peace of mind and emotional family bonding. Sheer materialism and status conciousness has no end. Medical expenses are also negligible if you are a fitness and health freak (you font need a gym to be a health freak)and you have no hangups getting medical care in a decent govt hospital. By 58 your children responsibilities are over . Your loans are over. You have your own house. You love cooking so outside food doesnt give you enough kick. You will have clothes enough to last a lifetime. . You have great friends so once in a while u can enjoy a drink party, play cards carrom and watch movies in hometheatre .Nearby holidays and picnics are enough to give u enjoyment . Shopping drastically reduces. And if reading is your hobby, kindle becomes your best friend.
Main thing is fitness. Im 52my dad is 83 my mom 78 my wife 44 .we excersise regularly and are without any desease . Medical expense is almost negligible. People should link fitness with money and i guess all will be health freaks.
Issue is that diseases these days doesn't come based on good living habits...
Touch wood 🧿
@@geg375 but thinking about that sure can . What has to happen will happen. We gotta try our best and chill. No ones gonna live for 200years.
But medical exigencies can’t be ruled out even if you r living a healthy life. Life style diseases can be avoided but there could be some unforeseen medical crisis in old age.
Still, to eat healthy, milk, fruit, vegetables, grocery etc, for 2 people min 20k per month would be required. For occasional parties add min 5k. One needs to pay bills, electricity, internet, gas, property tax etc, min 5k. If you keep any maid or servant add min 5k. If you maintain a car add min 5k for fuel, maintenance, insurance etc. If you go for holidays once in a while, even to nearby locations, add min 5k. House maintenance and society charges would avg at 5k. So min 50K per month would still be required ( disregarding any medical expenses), which will keep increasing with inflation.
Life expectancy till 90 is very rare.
10% return is possible only on long term investment.
I think 30k is enough if you are healthy & lead a simple life.
Good calculator.
These calculators are good for estimates but all the factors are so varied that you should always keep a healthy buffer for everything
Most of the people go wrong while calculating is they input the monthly expenses comparing today’s expenses whereas after you retire your monthly expenses is going to be reduced compared to your current.. the only expense which is going to increase is your medical bills if you have not had a healthy lifestyle
M 31 yrs old discharged from Armed Forces on Medical Ground with service of 12 yrs 7 months 11 days got gratuity and other includes 25 lakh and pension of 24000/- abi me Ghar par Maa Papa ki service kar rha hu❤ Jai Hind❤
Oh Good
Thank you for your service. Jai Hind
Thank You for your service Sir
Sorry to point out to you that your parents don’t need any service at this age, they cannot be more than 55 years of age. They are young. Please go ahead and make your life and build your future.
@@sunilj10 Mother expired due to BP, Shugar, rare disease Moya Moya father also sick on other hand, 17 Aug 24 was my IBPS exam, and SSC CHSL, CPO and Phase XII 2024 results awaited, Name in Merit of SSC GD 🫡
I think it's especially difficult for retirees and near-retirees, I know to focus on the long term but the anxiety when you're supposed to retire in 3-5 years is exhausting. it is difficult for me to participate in the market right now due to the full-time nature of my job. it will be too stressful to combine so I don't even think about it
There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.
Impressive, Can you share more details?
My advisor is ‘’BRIAN FRANCIS PEARCE’’ he’s highly qualified and experienced in the financial market. He has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. He has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Please how do I communicate with him
HE'S ALWAYS ACTIVE ON TELEGRAM'S APPAND TICKTOK WITH THE NAME BELOW
Let us look at things like this.
You are from tier 2 city and you have your own house and your monthly expenses are 25000.
Now if you have one crore and the same is even kept in bank FDs it will fetch you 50000 per month. So your monthly savings is 25000.
So if you have sufficient medical cover and no other liability, one crore is sufficient
one question as i am just a kid but how long will the 1 crore in fd last if we get 50000 monthly?
@@IdkIdk-gw3qo wo kabhi khatam nahi honge ulta thode bhot badenge
Don't have penny still retire ....paisa hi samsya hai hai to b nhi hai to b .namak roti khaie Hari har ke gun gayiye .
Ekdam correct jitna bhi kamayenge utna kam hai . Pehle jamane koi kuch plan nahi karta tha sab jike ke chale Gaye achhe se .kalyug mai hi jaise jais age bad rahe waise waise financial planning ki jyada jaroorat pad Rahi hai
Emergency medical expenses me bahut kharcha ho jaata hai.
@@sandeepgoyal144 exactly 💯
Bas spirituality hi inn sab lochao se bacha sakta hai..finance finance karke dimaag ka dahi khichdi roganjosh hojaata hai. 😂😂😂 Kam me hi khush rehna seekho...single raho mast Ram ram gao
👍
Unrealistic expectations are the main cause of financial instability.
Another reason is to compare with others.
Live simple life.
You are here to live a good life and not for show off or follow others
Well said.
Actually think of it, a very hardworking farmer earns far less than most salaried professionals.
So lead a simple life
If you are a Govt employee with pension, one crore is good amount, otherwise 1 cr is just peanuts in Metros or even in 2nd tier cities considering today's interest rates, inflation etc. God bless you in MFs, stocks, real estate.
I am a government employee but with NPS I am worried if I will have a good retirement fund. I have around 35 yrs of service left till 60.
Your expenses will drop considerably because,
1. You have a home. No rent.
2. Your kids are now married and you don't have to spend on them. Occassionally they can give you some money. Maybe not.
So today's, expenses will definitely go down after 60 years and you can survive easily.
Medical expenses
Life is not so simple, such that we can simply filter our retirement down to 1 calculator.
This is speculation at best.
If invested in right instruments, and buy in bulk (whatever we need), remain fit, inflation cannot screw with us.
Even PPF can bring us bigger corpus if retained for long term for compounding.
Yes I did my compounding through ppf without tension. I have retired and facing no financial issues
It's not speculation, its just a tool for calculations, not a solution, but that doesn't mean it's not useful
And yet you gave your own calculations 😂😂
I m 17 years n my goal is to make 1 crore with in 20 year. no family fortune nothing going to start from scratch I. Don't know if I'll make it but I'll do my best 😊
Live in NE India where almost everything is susidized by Govt of India.
@@csuryavanshi5976 can you explain me ?
I am from south and Does NE means North east India
Many employee retired without money, you are retired with 1 crore. What a luck you are.
Invest in gold ( sgbs and physical) , ppf and top 20 stocks of Nifty on good dips...but gold will be the commodity to acquire in next few decades ...investments in these three consistently over 2-3 decades in good amounts will be enough to keep u stable in old age imo ...inflation will rise and fd rates will fall in coming decades imo ,so other options need to be considered for decent compounding returns
Somehow my parents are making pension of 1 cr + per month who had very simple salary in rural area of bihar
The word enough is not applicable even if 5 cr is there for some, can’t quantify it…1cr is enough for a peaceful life, provided you have an own house
Why would one retire at 50. Generally at 58 or 60 a person retires. If he has 1 Cr to his credit, then at an average 8% interest, he can have 8 lakh by way of interest. Life expectancy is maximum upto 75-80 and not 90 as you quote. Out of 8 lakhs, one can spend 6 to 6.5 lacs per annum and balance 1.5 for taking care of inflation. In short, I request you to be some realistic and not frighten the viewers. Wise investment is certainly a must and views expressed by you are totally agreeable. But 1 Cr one person can certainly stay for his balance 20-25 years, taking care of inflation. ( it is presumed that one has his Medical insurance policy in place). Regards.
You are assuming you are single & want to remain so till death.😢
Frighten the viewers ??? no one gives a damn about the calculator... all they want is to make a comment and sit back... don't worry - all will survive....
Try to get some passive income through part time according to your skills. If you are accountant then you can do some book keeping etc even if one earns 15000 a month it amonuts having 2500000 in deposits. A good medical insurance cover is a must . If your siblings can take care then they can also get tax deduction on the insurance premium.
No this is very small amount. Rs 10 crore is sufficient amount for retirement.
I feel calculator will not reflect real time scenario. We are considering inflation which is good for calculation. But while we earn salary we don't go as per inflation. We go as per percent hike which is equivalent to rate of return.
Absolute Thanks, I am from Design and not able to do math this helps a lot!!!
One crore can be more than enough or not enough - depends on what kind of life (spending) you want to live.. also life is totally unpredictable... you never know what's around the corner... so, no guarantee you'll survive well with whatever you have....
I am trying to retire, back in India already, this video is kinda helpful
I'm 32 returned to india from Australia after 10 years. I have already built 2 houses with 3 crore and a 50 lac car. No loan. I have 1 cr in cash. Can I retire with SWP in mutual fund? I dont spend unnecessarily so dont need much. Maybe 30-40k a month max. Is index or mutual fund better?
@@4am_Sachin why did you return? By the way if you are married 40k is not enough
Really good and helpful video for everyone. Great job!!
Best Retirement Calculator, Sir, Thanks
Your after retirement calculator is not working correctly. When I increase current assets, retirement corpus deficit also increases...? How this is possible?
You missed a field in the calculator for home ownership (zero outgoings) versus rentals
If you have 1cr corpus put a fixed deposit and take 7% returns which will give you some 50K every month and add little bit mor and invest this in Index fund. After 12-15 years you will get good returns + FD amount. Retire peacefully and visit temples n shrines 😂
Good tool but it does not account for unexpected expenses such as illness and other family related contingencies. There is an inherent assumption that the expenditure pattern will remain constant (although a minor adjustment for annual inflation and incremental cost of living). By today’s living standard, for a person aged 50 years, expected to live up to 90 years, and earning simple interest on term deposits, Rs 1 Cr is just not enough!
Sir 90 ke baad ye jo 2 crores corpus tha wo rahega ya wo pura zero ho jayega. Please answer.
I am 59 years old retired with a monthly pension of 1.25lac per month with no liabilities. The pension gets revised & increased every 5 years while the dearness allowance gets added by 3% to 4% every six months. Do I need 1 Cr corpus or can I survive comfortably.
😂😂😂 You are definitely a retd IAS officer or a retd bank GM or an ex army officer or a UGC scale retd lecturer. Nobody else gets a pension of 1.25, lacs per month in india.
This video is not for affluent class people like you who can spend money wherever and whenever they wish. This is for people who wish to live a simple life with max 50000 pm spending.
@@religionofpeace782 you r right my friend I am a retired Army officer. I asked this because many TH-camrs and financial advisors keep telling that pension will not be enough in future due to high inflation etc etc.
@@Jazzz848 My salutes to you sir for serving my country and keeping us safe! A pension of 1.25 lacs will not fall short if managed in the right way, i believe.
@@religionofpeace782 thank you friend
@@Jazzz848 ur 59,gettin 1.25 a month n gets bothered by every other utuber shitty calculations/projections😑
That's a very insecure lyf ur livin sir, remember one who clings to money(materialism) suffers
Its high time u get ur acts straight n dwell into the world of Spirituality🙏
Why not index fund which give around 12-13%
Good and informative video. Keep it up.
Very good Sir ,aap reality batate ho for middle class...baki log phaalto baat karte hai ...10 crore 20 crore 😂😂😂kyu chahiyae???saehat acchi honi chahiyae,bacchae merit par padhe ...thats enough
Where can i find this caculator.
does your calculator consider fall of interest rates in FD
Mahine ka kharcha 10000 kardo..sab theek hojayega😂
SWP mein dal sakte kya?
How abt SWP?
Excellent video thanks sir ji
Nice video
Sir abhi 25 lakhs ke 4 affordable flats Lele. Jo ki rent de 15000 each per month . To 7.2 lakh mileage .per year. Ismai Buddha or budhe to rock kardenge 😅
25lack vale ka rent 3/4 thousand hota hai
Sir, can you add present age and consider retirement age also and improve calculator ?
Sir, there is a separate Retirement calculator for it
I am in canada, I would like to come back to india and retire. My age is 40 yrs.
Good calculator sir
WHERE IS TAX IN YOUR CALCULATOR?
Thank you so much sir...From..Pune.
If u r unmarried, then 1 cr is enough, else 10 ro 15 cr
what about your dependents, can you calculate their expenses in future , I think not. So calculator is pretty much useless
It is only Retirement calculator. For other goals you should choose other calculators
Return of 10% is not there, only 7% to 8% is possible.
Thanks sir🙏
Thank you gaurav sir
Caculator link me dal dete itna soch rahe ho hamare liye to....
90 saal kon jeeyega
Mere pass 9cr ki agree land and NRP premises hai... I'm from tier 3 city of Maharashtra. Can I retire?
रुलाएगा क्या
not good, lots of points you miss in your calculation
I am 54 year old working in private sector and want to retire next year please suggest
Sir, you can check InvestYadnya.in and contact our relationship team for help.
Can i get this calculator.
1 caror hogya fir bhi soch raha h retirement k liye😂😂
Mujhe to 10 cr chaiye
mahine ka 1 lac kharcha hai bibi pe
Bhai kam kyu kar rahe ho. Kam dhandha chhor ke baith jao.
Ha ha, wife agar dekh liya apka comments, to mushkil ho jayega.
Esa kya kharcha hai hame bhi batao...?1L 😮
Bhai Teri wife liability hai...jaldi se piccha chhuda le uss se 😜😜😜🤣🤣🤣
sir, if I need a good car or a serious disease or some gift time to time to children then only their expanses will be more than 3 to 4 Cr and in next 30 yrs it will further grow, besides bare minimum need some aspiration need will also there, even by that time even mob or artificial intelligent equipment or home equipment may cost more than 2 Cr.
@@AjayKumarSharma-ic4un you mean mobile will cost 1cr in 30 yrs .lmaof .
आपका कैलकुलेटर डाउनलोड कैसे किया जा सकता है
Ghuma fira ke purana concept pel ke chali gayi madam😂😂😂😂😂😂😂
I am not brave enough to see the videos especially since I know the answer would be its not enough..but could someone tell me what he feels is good enough to retire😂
1cr wont help, youll need more
What about critical illness or accident?
Can you make a retirement plan for me
6 lacs expenses per month !!!???!!!
5 crore one can retire
But medical expense ka kya?
That should be planned separately
tax kon bharega bhai?
Very confusing
Nothing new, same old math...and repetitive concept by every finfluencer like...Akshat shrivastav,Ankur warikoo,C A Rachana ranade, C A Rahul and many more...
Yes, this calculator will not make any difference to anyone... But it's human nature to mentally fly high and after a while, back on the ground.... back to normal - that is...😊😊😊
Don't understand life expectancy in these calculators😂. How do I know when will I die
Right but we should take a conservative estimate
@@InvestYadnya Then shouldn't it be based on the average human life in India. What is the point of asking something which even doctors cannot predict.
@@shaneward2588 app ek number ke akhand hutiye ho. Average age khud hi daal le..why keep it fixed to a number? It is flexible now you can enter whatever number you want.
Shane...Why this unnecessary argument??? No one can predict future...the calculator is just to give you an idea...if you think you will live 200 years then please accumulate corpus for 200 years!
@@mannutomar idea for what when you don't know the target end date. You accumulate 5 crores assuming you would live for another 25 years but end up living for another 45 years.
Don't have Job and money One can retire
What a calculation!
SIR JEE EQUITY MEIN TO 15 PERCENT CAGAR TO MIL HI JATA HAI 1 CARORE ENOUGH HAI PER MONTH 60 HAZZAR AAP 90 SAAL TAK LE SAKTE HAI PLUS AAPKE PASS CARORE RUPAY BACHENGE
Kaafi depress hua dekhne k baad
1 crore ki koi value hi nahi even aaj ki date main. Jitna kamao saala pura hi nahi hota. Slaves ki tarah life gujaro BC
Achaaa
🙏🙏🙏👍
Plzzz ager koi ameeer ho to 1ce mujhe bhej de yrrr apka ye donation meri life ko bahut accha bana sakt he plzzz koi bhej do
Aarey bhai dus hazar ki naukri hai
SIlly MF
Age Kam karle 😅
Pl share your company’s email contact details.I need such financial planning for my close relatives.