How To Get 1 Crore on Retirement – Interesting Calculation

Retirement is one of the most discussed and searched topic online and offline as well as this is one of the biggest challenge of modern day. Getting a steady pension retiring after 60 is a dream now. I have received couple of mails asking for how to get 1 crore on retirement or what are the investment plans to invest for retirement?

Anyway, the psychology behind the term Crore may feel relaxing today, but it may not be a safe amount in future.  In fact I have just read an article on how to save 10 crore for your retirement life in economic times. In this article I will try to talk about How To Retire With 1 Crore amount.

How to get 1 Crore on Retirement – A Simple Calculation

Here I am trying to make a simple calculation to tell you that how much money one have to invest to get a good retirement corpus after the age of 30 years. Before showing the chart, I want to tell you that I am considering that you will be working till the age of 60 and then retire and your current age is 30 years.

In that case, considering the current interest rates of small saving schemes and FDs I will take an average return of 8%. Although the PPF interest rate is reduced to 8.1% and few banks are offering maximum interest rate of 8.75%.

Rs 5,000/mo Rs 10,000/mo Rs 15,000/mo Rs 20,000/mo
After 10 years 918110 1836220 2754330 3672441
After 15 years 1733583 3467167 5200750 6934334
After 20 years 2945334 5890668 8836001 11781335
After 25 years 4745931 9491862 14237793 18983724
After 30 years 7421524 14843048 22264572 29686096
1 Crore Target Not Reached Target Reached Target Reached Target Reached

As per the chart, it is clear that the more you invest the early you will be able to reach your retirement target of 1 crore. In other way, if you have enough time to retire, then you can start investing slowly. But if you have e.g. 10 years left to retire, then you might have to start monthly more than 30,000 to make a retirement corpus of 1 crore. But remember, 1 crore may not be enough. This is just an example I have shared here.

There are many retirement plans available in India. E.g. NPS is one of the most talked tool of current time. If you invest in any NPS kind of product then you should be aware about how those kind of annuity plans actually work in our country. Other than that, you can follow simple investment option by choosing tools like EPF, Equity Mutual Fund investments for 15+ years etc.

How To Retire With 1 Crore Pension

Why you need to worry about saving for your retirement? The reason is very simple, no one is going to get fixed pension whether he/she is in a Govt. job or any private company service. In such a scenario how much money is enough to get retire or how much money you need so that you can continue your retire life as expected? There are various online retirement calculators or online pension calculators available to provide you some approx figure.

These days there are many 1 crore pension plans started in India. The funda behind them is nothing but to attract the customers in the name of crore. The plans don’t have any kind of magic return formula.

If you are planning to save for your retirement, the best way to start is by sidelining the money from your current income for a very longer period of time. E.g. make sure you can put that amount for more than 15 years and even more. But make sure you have enough money to handle the short term goals without breaking those investments.

So, whatever is the way of investment, if you are able to stick to that plan and able to sideline enough money for such a long period then you could definitely retire with even more amount than 1 crore. For the exact figures, like how much money you have to invest to get 1 crore return you can check out the article published earlier.

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  1. I must say thank you to both of you Suresh and Santanu, I have learned a lot from you both.

    Thank you 🙂

  2. Santanu, Compare to other articles, this is more short. I would have been excited, if you would have given how to invest in each of the investment options with top recommendations would have been helpful. However the title creates attention and investors can think and create their own ideas.

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