Planning for retirement requires careful consideration of various factors, including inflation and potential medical expenses. Financial advisor Nitin Kaushik highlights the importance of establishing clear goals and assessing your current financial situation to determine the necessary retirement corpus. For instance, to maintain a lifestyle costing ₹1 lakh per month in 2026, one would need to accumulate at least ₹3.5 crore (approximately $420,000 USD). Kaushik warns that many retirees overlook healthcare inflation, which currently stands between 12-14%, and the risk of longevity, potentially leading to financial shortfalls. He suggests a conservative 3% withdrawal rate in India, compared to the 4% rule commonly used in the US. Additionally, retirees might consider relocating to Tier II or III towns to reduce living costs, effectively extending their retirement savings. To safeguard against unforeseen circumstances, it's advisable to maintain an emergency fund and explore annuity plans to ensure a steady income in later years.