Inflation Calculator: Your annual expenditure is Rs 10 lakh now; know how much money you need after 10, 20, and 30 years
Inflation Calculator: In today's era, it is easy to say that a person with an annual expenditure of Rs 10 lakh is living a comfortable and stress-free life. But the real question is, will the value of Rs 10 lakh remain the same 20-30 years from now? The truth is that inflation reduces the value of money over time.
Inflation Calculator: How much money do you need in the future?
So, if Rs 10 lakh seems enough to maintain your desired lifestyle today, in 20, 25 or 30 years you will need even more to achieve the same standard of living. But how much more?
How to plan for retirement?
When planning for retirement, it’s crucial to account for this factor and make financial decisions accordingly. Here, we calculate how much money you would need in the future to maintain the equivalent of a Rs 10 lakh lifestyle today, using an Inflation Calculator.
Give clear idea for future saving
This will give you a clearer idea of the amount you'll need 20-30 years from now, helping you to plan your retirement more effectively.
How much money will you need after 20-30 years?
With inflation rising at an annual rate of 6 per cent, the value of Rs 10 lakh will decrease significantly over the next 20-30 years.
Inflation Calculator: How much money will you need after 20 years?
Assuming an inflation rate of 6 per cent, if Rs 10 lakh is sufficient for a comfortable life today, then 20 years from today you will need Rs 32.07 lakh to live a better life.
- After 20 years: Rs 32.07 lakh
Inflation Calculator: How much money will you need after 25 years?
Assuming an inflation rate of 6 per cent, if Rs 10 lakh is sufficient for a comfortable life today, then 25 years from today you will need Rs 42.92 lakh to live a better life.
- After 25 years: Rs 42.92 lakh
Inflation Calculator: How much money will you need after 30 years?
Assuming an inflation rate of 6 per cent, if Rs 10 lakh is sufficient for a comfortable life today, then 30 years from today you will need Rs 57.43 lakh to live a better life.
- After 30 years: Rs 57.43 lakh
Value of Rs 10 lakh will reduce in future
These calculations clearly show that the value of Rs 10 lakh will diminish considerably over the next 20 to 30 years.
Save and invest wisely
Make sure to save and invest wisely so that by the time you retire, you have accumulated enough funds to continue living a comfortable life.