Do you need some help planning the financial side of retirement? There is no shortage of online calculators to give you a hand. Below are 10 examples and there are many more if you search. They each appear to have their own “spin,” which makes it useful to try a few different calculators.
Vanguard
https://retirementplans.vanguard.com/VGApp/pe/pubeducation/calculators/RetirementIncomeCalc.jsf
Vanguard’s calculator collects some basic information and then shows a graph of where you are versus what you will need. I like the way the graphs change instantly as you adjust the numbers. It allows you to try different scenarios easily.
Bankrate
https://www.bankrate.com/retirement/calculators/retirement-plan-calculator/
Bankrate collects your info and produces a graph of how long your money will last after retirement. If you are not saving enough it is kind of depressing to see your money drop to zero while you are still alive.
Nerd Wallet
https://www.nerdwallet.com/investing/retirement-calculator
This one asks for some simple info and then projects what you will have versus what you will need. It can be an eye opener.
Schwab
https://www.schwab.com/retirement-planning-tools/retirement-calculator
Schwab’s calculator is pretty robust. One thing I like is that it allows you to input your investment risk tolerance, from low to high. For example, I tried Moderately Aggressive which assumes 80% stocks, 15% Fixed Income, and 5% Cash investments.
Smart Asset
https://smartasset.com/retirement/retirement-calculator
This calculator is fairly detailed. It allows you to input both yours and a spouse’s information together.
AARP
https://www.aarp.org/work/retirement-planning/retirement_calculator.html
The calculator is rather detailed with input for you and your partner, and your anticipated lifestyle. One thing I liked is after you are complete it gives you options as to what to do if you aren’t on track.
Dave Ramsey
https://www.daveramsey.com/smartvestor/investment-calculator
This one appears to be a basic calculator of the balance you will have at retirement. One interesting item is the “What If?” section that shows the effect of some small changes like eating out less or saving just a little more.
Calculator.net
https://www.calculator.net/retirement-calculator.html
The Calculator.net site has all kinds of calculators. Besides the calculations similar to other retirement calculators it has some others like “How long will your money last?” or “How much can you withdrawal after retirement. These are of interest to those that are close to retirement or already retired.
Merrill (Bank of America, formerly Merrill Lynch)
https://www.merrilledge.com/retirement/personal-retirement-calculator
Merrill’s calculator goes through a series of easy screens to make its calculations. One variation from some of the others is that it allows you to adjust the amount you will spend in retirement, from 60% to 110% of your current salary.
Fidelity
https://www.fidelity.com/calculators-tools/retirement-calculator/overview
Fidelity offers a variety of retirement related calculators. You can spend hours playing with the calculators and reviewing the guidance. Not surprising that they have a nice collection. I personally like them as a broker for stock investments because of the very complete range of information they provide on individual stocks and investments.
The different calculators each have their own twist on retirement calculations. The nice part is they are all free so you can experiment as much as you want.
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