The amount you need to put aside for retirement depends on your retirement corpus. Your retirement corpus is the estimated amount you need that will help you manage your monthly expenses once you are retired. This cannot be planned in a couple of years because the amount you would have to save is huge.

To build a sufficient retirement corpus you should start saving early and regularly. You can estimate the size of your retirement corpus by trying to determine your monthly expenses, extra expenses like medical expenses, travel expenses that you’ll need to take care of after retirement. You can estimate the size of your corpus, with your annual income requirement and your investment yield.

Size of corpus = Annual Income requirement / Investment Yield

For example, if your annual income requirement is Rs. 10.5 lakhs/year and investment yield is 7%, the size of your corpus will be around Rs. 1.5 crores.