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Who doesn't want to live a life of comfort after retirement? As one grows old, ability to work also decreases. It is then when you want to sit back, relax and enjoy life. At that stage of life if you have saved enough then you can really enjoy life. Often people retire early if they have been able to save enough for themselves.
Retirement bliss is largely dependent on how much you have saved while you were working and earning in your middle age.

After retirement, you can do all the things you wanted but could not do so far. You can spoil your grandchildren and give treats to your near and dear ones. Travel to all the places you want for as long as you want without having to think of going back to office. At that point you will glad you saved for retirement. Besides, nobody is ever unhappy that they saved more for retirement.

Now the question is how much savings is enough? This is a relative question and the amount varies by person. Ideally you should have a portfolio of cash, stock, pension, medical insurance and social benefits. Together they should be able to take care of your retirement requirements considering inflation, medical expenses and the occasional rainy day.

An indicative amount would be based on your current expenses and liabilities. You would want to sustain your current lifestyle after you retire. It would be good if you have your mortgages paid off by the time you retire. This way you will have fewer liabilities and fewer headaches. You will be more financially independent.

Learn more about this author, Saurabh Pal.
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