What is retirement planning?

So, what exactly is retirement planning? Think of it as your blueprint for a financially secure and enjoyable life after you've said goodbye to your 9-to-5. It's all about putting a portion of your earnings aside today, so you can live comfortably tomorrow, without the need to clock in and out.

It is like a safety net that catches you when you're ready to leap into a work-free life. Retirement planning brings you the peace of mind that comes from knowing you’re covered for the future. 

It allows you to step into retirement confidently and with the independence you look forward to.

What is a retirement calculator?

A retirement planning calculator is a tool that will make retirement planning a walk in the park. It will calculate the amount of money you will need after your retirement to sustain your present lifestyle. 

Once you know exactly how much you need to save, you can secure that amount by investing smartl

Our retirement calculator will show you the retirement corpus you need at the time of retirement, and the monthly savings you need to do, to get there

What are the advantages of using a retirement calculator?

No matter which career you choose, a job, a business, or an artist, retirement planning is a must. Only then, can you spend the golden years of your life without worry in the world. 

But the question is, why should you use a retirement calculator?

Here are some of the benefits of using a retirement calculator:

• It helps you calculate how much you need to save each month to have a significant fund at the end of your professional career.
• A retirement benefit calculator helps you determine the specific investment opportunities that you must take advantage of.
• You can compare different retirement schemes that most competent financial organizations provide. 
• A retirement savings calculator helps you identify various retirement planning strategies that are out there and lets you review and compare them.
• If you have any high-value plans after retirement, our calculator will help you save accordingly for such requirements and planned spending sessions.
• It allows you to conduct your research and feel confident while making investment decisions.
• RuDo’s retirement return calculator is not only efficient but also easy to use. It negates the need for manual calculations. 
• It is easy to use and accessible online for free.

How to use the retirement calculator?

Having difficulty filling in the details? We’ve got your back!

‍How to fill in the primary details:

• Current Age: Enter the age you are right now.
• Retirement Age: Enter the age when you want to retire.
• Current Monthly Expenses: Add an average amount you spend monthly.
• Current Retirement Savings: Enter the current balances of all your retirement savings accounts. 
• Current Monthly Contributions: Enter the amount you save every month as part of your retirement savings.  
• Step-up: Enter the rate in percentage by which you increase the investment amount annually. 

How to fill in the advanced details:

• Life Expectancy: Ideally, your retirement savings should last you throughout your life. Thus, it is smarter to aim higher. We are assuming it to be 85. You can aim for it to be higher or lower. 
• Inflation Rate: We have assumed an inflation rate of 3%. You can change it to see how it impacts your retirement savings.  
• Investment Return (Pre-Retirement): Enter the rate or percentage of return you expect your investments to provide from now to the time of retirement. We have assumed the rate to be 12%. You can change it as per your needs.  
• Investment Return (Post-Retirement): Enter the rate or percentage of return you expect your investments to provide after you have retired. We have assumed the rate to be 10%. You can change it as per your needs.  
• With or Without Return of Corpus: This is a drop-down menu where you have to choose any one of the options.

If you choose “with return of corpus” the calculator will consider the return of the initial investment amount (corpus) along with the interest or investment gains when calculating the retirement benefits.

If you choose “without return of corpus”, the calculator will factor in both, the initial investment and the interest generated to determine the retirement income. In this case, the corpus becomes zero by the chosen retirement age.

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Who is the retirement calculator for?

Any youngster may look at the retirement calculator and go, “I don’t need this now! I have plenty of time.”

This is where they are wrong. Once you use the calculator, you will realize that the smart thing to do is to start today! The longer you save, the more money you will have with less stress on your present-day lifestyle. 

Therefore, the retirement calculator is for everyone.