News From Press What is income replacement ratio and how useful is it for retirement planning?

What is income replacement ratio and how useful is it for retirement planning?

Source: Livemint Dec 7, 2018

The key element in retirement planning is to determine the income required to meet expenses later. Once this is known, then you can estimate the corpus you need to build. Income replacement ratio is a thumb rule to help you estimate this income. Simply, it is the percentage of the pre-retirement income that you are likely to need to maintain a similar standard of life in retirement.

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