Good luck!

Its never too late Vinod. I’d suggest you speak to a good finacial advisor to figure what best approach you can take, do ensure you pay adequate attention to risk 🙂

Let me check this 🙂

Yes, but I’ve not factored that in to add some conservative approch to planning. But you can factor in the interest as well 🙂

I have one question: whatever money we save will definitely earn some interest afterwards for the remaining 20 years, so considering this, how much Money Need for the future? 
So if we go with considering this way, then your 7.2 cr requirements may change.

End of the day this is a model, you can plug in numbers that works best for you.

Thats right, hence the time is a variable here right? And this gets factored in the formula as well.

we are calculating the future value of Rs 6 lac at the years 25, 26 ,27 and so on till 45 years . Since this future value is at different time frames(25 yrs , 26 yrs , ….. to 45 years) the addition is not right in my understanding.

Now if you are talking about future value at 2044 which is 25 later from our start date ,which is also our retirement date , we need to discount values from what we have calculated for 26 , 27 28,….45 years to 25th year.

Which if we add all the values we get around 4 crores at the 25th year or our retirement year.

Noted, we will do that. Thanks.

Sure, let me review this. But the overall idea is to stay on the conservative side when dealing with personal finance 🙂