Rs 40,00,00,000 to retire in India? Dezerv’s co-founder’s statement leaves internet shocked, netizens call it ‘mind boggling’
ALSO READ: ‘Offer accepted, followed by Rs 36 crore LPA demand’: Gurugram CEO Jasveer Singh calls onboarding experience ‘ridiculous’
Retiring at 60 requires 40 million rupees
During the conversation, Sonia Shenoy shared her personal monthly expenses as part of the discussion. “I am almost 40 years old and have expenses of ₹2 lakh per month,” Shenoy said. “How much assets should I have when I turn 60?”
ALSO READ: Popular YouTuber Lakhan Arjun and Neetu Bisht claimed that cooks spit while cooking
According to Sandeep Jethwani, if you earn around ₹2 lakh a month today, are between 35-40 years old and live in a metro city, you may need a retirement community of around ₹40 crore by age 60 to sustain your lifestyle. The IIM Bangalore-educated entrepreneur also added that the Rs 40 crore amount is “excluding the house you live in and the car you drive”. This figure has now become a topic of discussion on social media.
Sandeep Jethwani replied, “₹40 crore.” “This is the old version of the house you live in and the car you drive,” he told the journalist. This figure attracted attention because it was well above what most people generally consider sufficient for retirement savings. He also said that all kinds of expenses are included in the corpus.
“Full corpus. Whatever the amount is to cover your future expenses, 40 crore would be a reasonable amount for a medium-sized family in India,” he added. Notably, Sonia Shenoy pointed out that 40 crore is too much for a fresher and added that even 1 crore is too much considering India’s salary structure. Sandeep Jethwani did not deny it and said, “It is very difficult.”
“The numbers seem very high but the truth is that if you are in the age group of 35-40 and living in a metro in India today with an expenditure of 1-2 lakhs per month, by the time you turn 60 you will need a corpus of 40 crores,” the video’s caption read.
Continuing in the comments section, Shenoy wrote, “In my opinion, if you are spending 1-2 lakhs a month today, you need roughly 10 crores by the time you turn 60, but my guest on the show, Sandeep Jethwani, tells me that inflation, lifestyle deterioration and unexpected healthcare costs can increase your retirement expenses much more than you think.”
Social media reaction
The statement triggered a debate on social media as average salaries are much lower in India. “He’s been saying weird things because he’s had to sell his product for years… there are much better alternatives on the market,” one user said. Another said: “Man, we don’t stand a chance then. God!” he commented.
Another commented, “He gave a random answer to get eyeballs. If your monthly exp is 2L. FF for up to 20 years, it will be 8L with 7% inflation. You need 1 cr annually. So 25-30 cr debt + other instruments and 3-5% total of returns after tax. 2.5L monthly @ 11-12% return can get there.”
“Mind-blowing numbers. But it doesn’t seem impossible to learn from your videos,” one user wrote in the comments section.
“This is just a calculation and not something that will be accepted in practice. I never believed that you would sip your mutual fund,” another user wrote.
