Future Inflation Calculator: Plan Your Retirement Savings Wisely

As asking rents rise, researchers predict higher overall inflation in the future. In 2022, the average inflation rate in Australia was at about 6.61 percent compared to the previous year. This upward trend in inflation rates has significant implications for individuals planning for retirement, as the value of money decreases over time.

Determine your balance at retirement with this free 401(k) calculator. Input your monthly contributions and employer match information to see how your money will fare in the face of future inflation. In retirement, high inflation reduces the future value of the income you receive from your super and other investments.

Our personal inflation calculator, built by the Office for National Statistics (ONS) in collaboration with the BBC, shows you what the inflation rate is for different time periods. We report average expected inflation rates over the next one through 30 years. Our estimates of expected inflation rates are calculated using a Federal Reserve model that takes into account various economic factors.

Inflation Calculator: Assuming that the annual inflation rate will remain at 4% over the long term, the future value of Rs 1 lakh will still be significantly lower due to the erosion of purchasing power caused by inflation. Retiring with Rs 1 crore might seem sufficient today, but inflation will erode its value over time, making it crucial to plan for the long term.

Inflation and the value of money have an inverse relationship. Inflation decreases the value of a dollar, making what you have today worth less in the future. It is essential to factor in inflation when planning for retirement and other long-term financial goals to ensure that your savings will be sufficient to meet your needs.