How much money do you need to retire in India ?
April 13, 2009 – 10:01 am
sevenlayerburrito asked:
My spouse and I have been thru enough corporate mergers, offshoring and downsizing that we’re tired of the personal turmoil that this comes with for our family. We’ve decided to call it quits and move back to India. We’re both in the mid-forties and were just wondering what it wouild take to comfortably retire in India. Mumbai, Delhi and Bangalore may be out of our reach considering the real estate price appreciation there.
My spouse and I have been thru enough corporate mergers, offshoring and downsizing that we’re tired of the personal turmoil that this comes with for our family. We’ve decided to call it quits and move back to India. We’re both in the mid-forties and were just wondering what it wouild take to comfortably retire in India. Mumbai, Delhi and Bangalore may be out of our reach considering the real estate price appreciation there.
We wanted to get a feel for what the public perception is (preferably from those in India and those NRI’s that have moved back there) for the kind of “nest egg” one needs to have a comfortable life which includes:
a) decent education for our 2 children, 7 and 10.
b) a home (3 br apartment in upper middle class neighborhood - 1500+ sqft)
c) a vehicle
c) Residual income to maintain monthly household expenses
Barclay
2 Responses to “How much money do you need to retire in India ?”
It is good that an Indian is returning to the roots & at children still 7 & 10 years of age.
a) this will depend upon the place of ur residence. For Pune u may have to spend some thing like IRS 1500+ for month for a average school for both.
b) IRS 1600/2000 per Sq. feet + interior decoration
c) starts with 3 lacs+
d)IRS 15000
My dear this is just a guide Take care as u may come across many unwanted things while settling down & be sure before u deal with any body about the authenticity of a person or firm.
By technext on Apr 16, 2009
This is for bangalore…
a) decent education for our 2 children, 7 and 10.
around 48000rs per annum per child in a good school
b) a home (3 br apartment in upper middle class neighborhood - 1500+ sqft)
35 Lakhs
c) a vehicle
10 Lakhs
c) Residual income to maintain monthly household expenses
Look at the table bellow
Years To Retirement
Inflation Factor
Current monthly income
Corpus = Current monthly income * Inflation Factor
10 268.78 15000 4031700
15 311.6 15000 4674000
20 361.22 15000 5418300
25 418.76 15000 6281400
By Suman on Apr 16, 2009