#LambiInningsKiTaiyari with Reliance Retirement Policy.

You are working for your money very hard, but is your money working for you?

Nice lines shared by Mr. Sikka at the Reliance Retirement Fund Meet organised by Reliance Capital Asset Management Ltd. in association with Blogadda on 6th June 2015 in Mumbai.

Before going to what actually the Reliance Retirement Fund Policy is, lets have a discussion over a few questions.

What is retirement and what is the age at which you should retire?

Retirement is simple words can the phase of your life when you leave your respective professions and stop working. There is no fixed age for retirement, it depends on you about when you wish to retire. People do retire in the ages between 45 to 65.

Why should I plan my retirements?


Retirement is a phase where you don’t have any income of yours, pension schemes are some other cases but generally those are only limited to few people who have jobs in some organised sectors. Planning your retirements now would make you live independent after you retire. To continue the same lifestyle what you are living today after 30 years from now would not be easy for you if you don’t plan your retirements now.

Just have a look on this facts:

  • Petrol which costs you around Rs. 75 – 80 per litre may have costed around Rs. 30 – 80 to your father when he was of your age and will cost your children around Rs. 150 – 170 in their future.
  • A person who retires with Rs. 1 Crore today, assuming 7% inflation rate it would be as equal to approx Rs. 13 Lakhs (Rs. 13,13,671) after 30 years.
  • If something costs you Rs. 100 today, the same thing may cost you Rs. 760 after 30 years.

How can I plan my retirements?

A simple answer to plan your retirements is to start saving your money and investing them in retirement policies right from today. Besides retirement policies you can also save your money as deposits in banks, etc.

How can I save my money today?


To plan for you retirement you don’t to invest a huge portion of your income if your age is around 30- 35, but if you start investing after the age of 35, you may have to invest a lot to continue the same lifestyle after your retirement. But well, if you are below the range then here are some simple tips to save your money:

  • Avoid one movie plan per month, a movie with popcorn and coke may cost you around Rs. 1000 today. Avoiding that will help you a lot in continuing your lifestyle after your retirement.
  • A dinner when you spend your time with your wife helping her cook would be more romantic than taking her for a dinner outside. And its just a matter to avoid one dinner and not all, this will save around Rs. 1500 of your income per month.
  • Instead of wasting time buying for a new gadget or even thinking about it, use only 30 minutes per month to plan your retirement. Instead of wasting money in buying new gadgets like mobile phones every month and replacing it with the older ones, save that money so that you can enjoy the latest gadgets even after you retire and that to from your own money which you will save now.

To make you all understand a little better, I will show you about how things are gonna work for after your retirement and how much should you start investing today to live an independent life after your retirement. Here I will be using the Retirement calculator which even you can use to get the statistics about your retirement plans.


Lets, start with it. I have entered my name.


Now I enter my current age and the age at which I plan to retire. I select 7% inflation rate which I think is normal looking forward at 30 years from now. I also I enter my current expenses. So the calculation is here, I will require Rs. 3,70,138 per month to continue the same lifestyle after 30 years which I am living today. Now I do enter my life expectancy which is the approximate age till which I wish to live.


And finally the numbers says that I will require a corpus of Rs. 4,93,27,559 (approx % crores) to live 30 years of my retirement with the same lifestyle at which I am living today. Assuming the rate of interest as 9%.



I have 36 years left for my retirement, and if I invest Rs. 2893 per month, I will successfully meet my needs for more 30 years after retirement. An invest of approx Rs. 3000 per month is not a big deal and when I know that I is gonna help me when I retire, I am surely investing in it.


So, what are you waiting for?

Just go ahead, calculate your corpus value and start investing from today for a better retirement in your future. You can find the Retirement calculator here.

Thanks a lot for reading, have a good day.

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