If you’re planning to retire today and want a steady monthly income of Rs 50,000, totalling to Rs 6 lakh annually, the amount you need to save depends greatly on how you plan to generate that income. Whether you rely on traditional options like Fixed Deposits and life annuities or market-linked strategies like a Systematic Withdrawal Plan (SWP), the retirement corpus required can vary significantly.
Published by OmniScience Insights Labs, the report titled The Science of Retirement Planning: Navigating Hidden Risks in a Long Retirement explores this in detail. It estimates how much savings are needed to produce Rs 6 lakh in annual income across a 40-year retirement period, assuming an individual lives up to 100 years.