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Retirement Toolkit
The dream that seems to unite all 20-something overachievers of our time is to retire
early. The formula: get into the fast lane, work your guts out, make a pretty packet, get
out of the rat race -- and get a life. What separates the dreamers from the daydreamers is
some amount of planning -- a roadmap and some course corrections along the way. With this
versatile tool, you won't go wrong. It tells you: |
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- How much you'd have on retirement if you
stopped saving now
- How long your savings will last
post-retirement
- How much you need to retire comfortably
- How much you need to save from now to get
there
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The assumptions
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- An inflation rate of 8 per cent
- Long-term capital gains tax of 10 per cent
on all investments barring PPF (currently tax-free) and fixed deposits
- The value of your spouse's Provident Fund
corpus is added on to yours at the time you retire.
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Some guidelines
As you go along in life, your expense chart
goes through considerable change. Give yourself a moment to consider how you think yours
will when you input your post-retirement monthly expenses. You might expect considerably
higher medical expenses, for example, or that you'll spend far more on indulgences like
food and travel, or entertainment.
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| Move on to the worksheets |
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