How much money do you need to retire in India ?
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
Public Comments
- 20.000
- 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.
- 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
