The answer depends on several factors, like where you want to live, the lifestyle you prefer, and how well you’ve planned for unexpected expenses. Let’s break it down step by step in a conversational and straightforward way.

First things first—what does your ideal retirement look like? Are you planning to:

• Live in a metro city like Mumbai or Bengaluru, where costs are higher?
• Settle in a smaller city or a peaceful hill town, where expenses are lower?
• Spend time traveling within India or abroad during your retirement?

Your desired lifestyle will significantly impact how much you need to save.

Here’s a breakdown of the major expenses to consider:

1. Housing
   • Do you already own property in India? If so, great! If not, you’ll need to account for buying or renting a home.
   • Renting in metro cities can cost anywhere between ₹20,000 to ₹1,00,000 per month, while smaller towns may cost ₹10,000 to ₹30,000.
2. Living Expenses
   • Monthly costs for food, utilities, and transportation vary depending on the city and lifestyle.
   • On average, these expenses range from ₹25,000 to ₹50,000 per month for a couple in a mid-sized city.
3. Healthcare
   • Healthcare costs in India are relatively affordable compared to many other countries, but quality private healthcare can be expensive.
   • Budget for health insurance premiums (₹20,000 to ₹1,00,000 annually per person) and potential out-of-pocket medical expenses.
4. Leisure and Travel
   • If you plan to travel or enjoy a luxurious lifestyle, factor in these costs. A domestic trip might cost ₹50,000 to ₹1,00,000, while international travel can go much higher.
5. Miscellaneous Expenses
   • Don’t forget costs like household help (₹5,000–₹15,000 per month), hobbies, and unexpected emergencies.

As an NRI or OCI, you might have assets in India and abroad. Here’s how to approach them:

1. Indian Investments
   • Explore NRE/NRO fixed deposits, mutual funds, or real estate as sources of regular income.
   • GIFT City also offers opportunities to invest in India through tax-efficient options.
2. Global Assets
   • Maintain some international investments to diversify and protect against currency fluctuations.
   • Ensure you understand the tax implications of withdrawing funds from overseas accounts.

• If your monthly expenses are ₹75,000, your annual expenses are ₹9,00,000.
• Multiply ₹9,00,000 by 25, and you’ll need a corpus of approximately ₹2.25 crore.

This amount should cover your expenses while allowing for inflation and generating income from investments.

As an NRI/OCI, currency fluctuations and taxes can impact your retirement funds. Consider these:

• Exchange Rates: The value of your foreign currency savings in INR can vary, so plan conservatively.
• Taxes: Understand the tax implications of your income, whether from Indian or foreign sources. Consulting a tax advisor can help you optimize your retirement plan.

• The amount you need to retire in India depends on your lifestyle, location, and financial goals.
• For a comfortable retirement in a mid-sized city, an NRI/OCI couple may need a corpus of ₹2–5 crore, depending on inflation and expenses.
• Early planning, diversified investments, and understanding local costs are crucial to a stress-free retirement.