Are You Saving Enough? ; When It Comes to Building Your Nest Egg, How Much Is Enough? Here's What You Should Know About Saving at Different Stages of Your Life.

Summary

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Whether you have already started saving or are about to begin, one thing's for sure: to keep pace with the escalating cost of living, individuals must keep monitoring their savings pace and fine- tune that habit.

The key to a successful retirement lies in three areas: the rate of your savings, the returns they generate, and the cost of living. Of the three, the latter two are market dependent and fluctuate according to the economic environment. These are the two areas where none of us has a say. But one area where you do have a firm handle on is your savings rate.

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Are You Saving Enough? ; When It Comes to Building Your Nest Egg, How Much Is Enough? Here's What You Should Know About Saving at Different Stages of Your Life.

A comfortable retired life, these days, hinges on the savings rate as the market situation is constantly changing. It's the only way you can determine whether you will have enough to last your lifetime. Consider this, at an inflation rate of 6 per cent, a 30- year-old executive requires Rs 13,039 per month to fund a comfortable retirement. But if we assume an inflation rate of 8 per cent, then indiv...

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