How much retirement corpus would I need

Glad to note that you are planning for your retirement and thanks for sharing the details.

However, the details provided by you are not sufficient enough to figure out the amount required at your retirement age of 60. Therefore, based on your current monthly household expenses of Rs 15,000 (annual Rs 180,0000), we can estimate that your monthly household expenses after 28 years would be around Rs 60,000 (annual Rs 720,000) assuming annual inflation @5%. Please check here https://www.advisorkhoj.com/tools-and-calculators...

Therefore, you need to have a corpus of approx Rs 1.20 Crores (assuming, if you invest the same in a risk free investment earning 6% interest/ yield you can get a monthly earnings of Rs 60,000). Now, how to accumulate this corpus of Rs 1.20 Crores over 28 years? You can start a SIP of Rs 3,000 per month and can easily achieve this goal (assuming annual return of 12% over 28 years). Please check this https://www.advisorkhoj.com/tools-and-calculators...

Therefore, the current monthly SIP of Rs 3,000 is sufficient to meet your future monthly expenses.

Please note that the solution we tried providing you is restricted to meeting your future monthly household expenses only based on what they are today. What you need to account over and above this is, the medical expenses for you and your spouse (post retirement, it will be quite high), the other liabilities that you might have at that point in time, an emergency corpus and planning for vacation etc post your retirement and many other things that could be specific to your needs.

Hope the above was helpful in order to make a beginning towards your retirement planning. You can start with this and review after sometime in order to make it more holistic.

Thanks for writing to Advisorkhoj.