What if I tell you that you can become a millionaire if you save ₹22 per month for 40 years?

Would you not believe me? Here is a calculator that will help you find out how much to save per month now so that you can reach your financial goals such as retirement, child's education, vacation, buying a house, and so on easily.

Firstly, Select your goal: We are showing an example where you pick Retirement as your goal:

If your goal is retirement, then click on the Retirement Tile.

Step 1: Fill the details in the Retirement Calc Form, here is an example:

Fill details in the form - All fields are required fields and an explanation of what they mean is given below:

- Email id: Your email id - This information will ensure that only you can access the details you enter here.
- How much do I spend per month? - How much is your current monthly expense (it could be ₹5000, ₹10000 or anything else)
- No. of years to goal - In how many years are you going to retire? (enter a number here - it could be 10, 15, 25, 40 and so on)
- Rate of inflation (%) - What is your expected rate of inflation (inflation means the value of your money will reduce with time meaning ₹100 today will only be ₹95 in 2022. The rate of inflation affects the cost of goods and services and so we find out by how much your monthly expenses will increase by the time you retire - it is in percentage; so make a guess, (an informed one 😅) say like 0.05, 0.07, 0.06 and so on
- Life expectancy (another guess) - You have to guess for how many years you will need the money after you retire till you die (I know it is hard to think about dying now, but stay with me) say like 70, 75, 80, and so on. If you have come this far, I know you will complete this form 😅.
- Return on Investment (post retirement) - So basically, you are not going to withdraw all the money you have in one go when you retire, you will do it periodically (monthly, quarterly, and so on). If you leave the corpus in your account, you will get a return on that corpus even if it is meagre - how much do you think you will earn after you retire - say 0.05 or 0.06 or 0.07 and so on.
- How much I have set aside now to meet the goal? - How much have you saved till date to meet this retirement goal - hint is if you are earning, add the balance in your Provident Fund account - if you don't have any, it is zero. Its ok not to have saved anything, we are just trying to see how much to save starting from now.
- Return on Investment upto Retirement - If you ask me why is this different from the return in point 6. It may be different depending on how much risk you want to take till retirement. If you can take more risk as you are also earning at this time and want your money to give you better returns than Fixed Deposits, you can enter a return that is more than point 6 - say 0.10 or 0.12 or even 0.20 and so on.

That's it, now you hit Submit.

Step 2 - Get the results - The calculator will tell you how much corpus you need and how much you have to save per month to get this corpus.

If you click on the tile that says "Save ₹5,900 per month for 25 years to get Corpus = ₹12,827,962", you will be able to see more details as given below:

This calculator is made in glideapps. If you like this calculator and want access to calculate your corpus, then write to me at sreelakshmi@berupeewise.com so that I can share this app with you.