Calculators

Calculators help investors to see the impact of projected investments they could make between now and retirement. To reach your retirement goals, you must have sufficient financial resources to live on and to maintain the lifestyle you desire. Retirement calculators can help you do this by showing projected savings balance at your expected retirement date based on expected contributions in the intervening years.

Retirement calculators show investors how well their savings programs are preparing them to meet their retirement goals. First they can calculate how much you will need to have saved by the time you retire to have the income you desire once you're done working. Then they can offer suggestions if it appears that your current plan is causing you to fall short of your goal.

Post Retirement Income

After we retire, we still have some sources of income to fit into these projections. For example, Social Security, pensions, annuities, and trusts are all areas from which investors could draw income once they are done working. Any shortfall after these sources are counted up would have to be covered from savings.

Contributions to IRA, 401k, Roth IRA, and other tax advantaged accounts all add to the income retirees can live upon once their working careers are over. Calculators factor in all of these contributions to come up with projections based on assumptions about the level and frequency of contributions as well as the income generated in those accounts.

Early Retirement Planning

Financial calculators are especially valuable for consumers in the financial market who would like to become more aggressive in their investment patterns in order to possibly retire early. With the help of statistical modeling it is much simpler to assess your current portfolio and the likelihood of retirement at a certain age given particular income goals.