Topic: Need financial planning advice for retirement

I will be retiring in another 20 years of time and I want to buy a home after my retirement. I am planning to invest around Rs. 20,000 per month from now towards my retirement planning. Can you please guide whether this amount of monthly investment will be able to fulfill my retirement goals?

To get a pension of Rs. 30,000 per month after 20 years how much money is required to be invested per month? Is there any particular investment option that you advise?

* Facts of the case :

Pension amount : Rs. 30,000 per month (future value)

Tenure of pension : 240 months (after retirement)

Inflation : 6% p.a.

Interest rate after retirement : 8% p.a.

Interest rate before retirement : 12% p.a.

Compounding frequency : 1

Pension required : After 20 years from now

Analysis:

Corpus required : Rs. 60.06 lakh

Investment required per month from today : Rs. 6,591

Tenure : 240 months

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