Amount of Contribution at the age of 34 Years

Hi Pankaj,

I am 34 years old and my wife is 29-1/2 years old. We want to get Rs. 1 Lakh pm pension. What amount should be deposited by me and my wife individually to meet my requirement at the age of 60 Years. I know that certainity is not there in such fund. You can tell me the tentative figure of monthly contribution by both of us.

asked Jul 03 '11 at 20:41 by sanjeevs 1111

You need 1 lakh pm pension by today's value or when you will be 60 years.
(Jul 04 '11 at 22:50) Pankaj Batra
At the age of 60 years. Not today's value.
(Jul 05 '11 at 10:18) sanjeevs
it will be better if you provide expense in current value as 1 lakh may not be correct figure at 60, considering inflation in mind.
(Jul 05 '11 at 10:20) Pankaj Batra
Thanks. I need 30000 per month by today's value at the age of 60 years.
(Jul 05 '11 at 10:42) sanjeevs

Considering all these figures, you need to invest atleast 20-22,000 per month to maintain your current lifestyle after age of 60 years till 80 years.

This is considered that your investment will earn 10% annualized return.

answered Jul 05 '11 at 14:50 by Pankaj Batra 5.2k320

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Asked: Jul 03 '11 at 20:41

Seen: 1,284 times

Last updated: Jul 05 '11 at 14:50