Most of you are probably wondering how to spend your time after retirement. The big question is that if you want to live your last days happily, you need to have your own income. But will the income you have saved now be enough? Will the money you have enough to live a good life after retirement? This is a well-known question. On the other hand, while most people consider ₹1 crore a large sum, they often overlook a very important question: Will ₹1 crore really be enough to spend your old age happily? Due to rising inflation and rapidly changing lifestyles, today's reality is completely different from what it used to be. But what is the magic number for retirement now?

Major impact of rising inflation
Most of you often ignore the fact that the value of Rs 1 crore today will not remain the same in the future. If the annual inflation rate remains at 6%, then the value of Rs 50,000 today will be equal to approximately Rs 1.6 lakh after 10 years. In other words, rising inflation will make people's lives more difficult. Always remember that the thing you buy for Rs 100 today may cost you double in the future.

Keep a close eye on lifestyle and health expenses
After retirement, your regular income stops completely; but your expenses don't. Furthermore, as you age, not only your medical expenses but also your general healthcare costs can easily double. If you don't have any health insurance coverage now, a serious illness can completely wipe out a significant portion of your savings. Then comes the question of future expenses and future funds.

How big should your retirement fund be?
Guiding you on this topic, financial experts recommend that you start accumulating a corpus of at least 25 times your current annual expenses as soon as possible. While Rs 1 crore may be a good start for building a retirement fund, it may not be enough to meet all your post-retirement needs. To plan for retirement effectively, you should start investing in safe investment options like Systematic Withdrawal Plan, equity mutual funds, and PPF or SCSS without any delay. The sooner you start investing, the bigger your retirement corpus will be.

PC: Navarastra