New Delhi, June 20 -- It's often said that one needs a Rs.10 crore retirement corpus, but there is no one-size-fits-all number. It starts with the lifestyle you want to maintain, the expenses you'll face and inflation. Here's how much money you need for retirement and how to calculate it.

"Retirement planning starts with a simple question: How much monthly income will you need when you stop working? The answer isn't based on today's expenses alone - it must account for inflation, life expectancy, and the returns your retirement corpus can generate," says Vishwajeet Goel, head of Pensionbazaar.

Begin with your current household expenses, excluding temporary commitments such as EMIs or children's education costs. These are expenses that a...