POSTED BY September 19, 2011 6:16 pm COMMENTS (4)
ONI am trying to do an academic study on retirement planning for middle class indians. What would you estimate as average expenses monthly for an Indian middle class household living decently. Please exclude EMI’s and house rent.
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Ramesh
Nice study , please share some more insights insights with all of us . from my perspective , the range in this case looks very tight, but in real life , you will get a big range
I would say you can take ranges with minimum average and max average
Grocery : 4,000-7,000
Electricity/phone/internet : 2000-3500
Entertainment/Eating out : 1500-4000
Others : 3000-5000
So if you do add the ranges , it would turn out to be around 10,000 – 20,000 .. this is except rent , EMI and only pure expenses on eating and living a life . No insurance premim , no health insurance premium etc .
Also , if these numbers look a little on low side , its fine because in retirement anyways some costs are gone !
Manish
Thank you for your response.Very helpful.
Ramesh –
Why not use a website like surveymonkey.com to create survey with your questionnaire and use that to track the response.
@20000/-p.m. for family of four, self, spouse, 2 children under10.