Which is worth more for people, ₹50 lakh today or ₹1 crore in 10 years?
Inflation can eat away at the true value of people's retirement savings as it keeps increasing product prices despite savings targets remaining the same. At 6% annual inflation, ₹1 crore in today's value would be worth ₹55.84 lakh in 10 years. Though it's slightly more than ₹50 lakh in today's terms, it shows that people must plan retirement savings accordingly.