FIRE Number Calculator

FAQs

Worry-free retirement is one of the top financial goals that every person has or should have. It is therefore very important to be sure that we are saving and investing enough during our earning years to have a retirement that meets our expectations.

Use this calculator to figure out if you are investing enough to get you from here to there.

A retirement calculator is a simple tool that helps you arrive at the amount of money you will require to see you through your years post-retirement. This retirement planning calculator will help you plan so you build a corpus that is sufficient to continue your lifestyle even after your retirement. The retirement calculator does this by taking into account your personal details such as current monthly expenses, your current age, the age at which you wish to retire and expected life span. The output will be a great starting point to work towards worry-free retirement.

There is no one-size-fits-all retirement calculation formula. How much you require as a retirement corpus is unique to you. It depends on your current lifestyle, the lifestyle you expect to have post-retirement, your age, when you plan to retire, returns on investment and most importantly, inflation.

FinMaestros retirement calculator takes all of these factors into account to arrive at the retirement corpus that you would need. It will also tell you how many years you have left to get to this goal and how much you need to invest each month to get there.

The retirement calculator will help you understand how much corpus you need to create before you retire and how to plan for it. Here are the ways in which it simplifies the process:

The retirement calculator comes in handy to estimate how much you need to live comfortably once you retire.
The retirement calculator takes into account both inflation during your working years and your retirement years.
It also takes into account how much your retirement corpus will generate, so that you do not find yourself running out of money during the later years.
It helps you plan finances better, to check how far away from your goal you are. It helps you plan your working life better as well, ensuring that you are well-placed to live your retired life in peace.
It helps you know how much money you have to save every month. Even if this sum is large, it gives you perspective on what you need to achieve. You can start small and slowly increase it later when your income allows.
The retirement calculator allows you to choose the right mutual fund schemes as you know how much you have to save and gives you the time-frame as well.