New Delhi, April 29 -- Smita has a monthly expenses of . Rs.1.25 lakh, excuding home loan, car loan and little amount of personal loan. The 35-year-old expects to clear all these loans in the next few years, after which her only major financial responsibility will be her regular monthly expenses.

Smita's main concern now is about her retirement planning - which includes understanding how much she would need every month after 25 years to maintain a similar lifestyle, and how she should plan her investments today to achieve that goal.

To understand how much she would need in the future to maintain the same lifestyle she currently manages with Rs1.25 lakh a month, she first needs to calculate the inflation-adjusted value of her expenses. ...