ICICI Prudential - How to plan for Retirement?

5 simple steps to arrive at an ideal retirement plan



Step 1: Decide how much income you require to live comfortably in your post-retirement years. Remember to take into account aspects like increased medical costs, vacations and gifts for family, but reduce costs like children's education and rent, if you own your home. Use our easy Inflation Index Calculator to calculate the impact of inflation.



Step 2: Determine how much you need to save regularly, starting today. Use our Retirement Calculator to determine how large a kitty you will need and how much you need to save each year.



Step 3: Select the right retirement plan that enables you to meet your post-retirement requirements. Preferably invest in market-linked plans, which can provide you with potentially higher returns in the long run. Our Life Stage Profiler will help you select the plan that meets your criteria



Step 4: Start saving now so you have time on your side and can enjoy the power of compounding. Use our simple Power of Compounding Calculator.



Step 5: Systematically invest a fixed amount every month for your post-retirement years.