Salaried Class Crushed: Why You’ll Work 10 Years More Just to Retire

Many salaried individuals in India pay around 30% of their income as income tax. But that is not the only expense they have. Apart from this, they also spend a large part of their earnings on rent, EMIs, petrol, and daily needs. After all these expenses, the salaried taxpayers are left with small savings. The expenses are more than what you save, or closer to that.

Now, if your savings are fewer and your expenses are larger, you can face difficulty in achieving your retirement goals. Therefore, you might not be able to retire early and will have to work for more years just to achieve your retirement goals. For example, if you are planning to retire by 50, you might have to work till 60 instead due to the taxes and expenses. There will be a delay of 10 years due to the taxes. This is the harsh reality for the taxpayers in India.