The best retirement calculators online pt money gas house dance hall

Calculating how much money you will need for retirement is one of those inherently frustrating exercises since it seems like you have to start with information you can’t possibly know— simply figure out when you will die, and calculate backward from there!

Before you start playing around with these calculators, make sure you have some information ready. The calculators will ask for some hard numbers, such as your current annual income, your annual retirement contributions, and the amount you have already set aside for retirement.

If you increase your annual contribution or push back your retirement by a couple of years, how does that change your retirement number? This kind of playing with numbers can help you get a better sense of how much control you have over your retirement. 1. NewRetirement’s Retirement Calculator and Planner

The NewRetirement Planner allows you to build, monitor, and maintain an independent holistic plan which helps you to get organized, monitor your situation, make informed decisions and take confident actions across Social Security, Medicare/Healthcare, Annuities/Pensions, Home Equity, Insurance, Work, Debt, Estate Planning, AND Savings/Investing.

New Retirement also offers a Social Security calculator, which can help you figure out the optimal time for you to take your Social Security retirement benefits, a Lifetime Annuity Calculator, which will calculate how much retirement annuity income your savings could buy, and several other calculators that will help you to determine the best financial course for your retirement. 2. FIRECalc’s Financial Independence / Early Retirement Calculator

The FIRECalc calculator helps you to understand how safe or risky your early retirement plan will be, based on the historical volatility in the market, so you can see whether your financial plan is robust enough to stand up to the worst we’ve seen in the history of the stock market.

When I entered my hypothetical nest egg of $1 million, with an annual spending of $48,000 for 30 years, FIRECalc determined that my financial plan is 75.2% safe. It only failed–that is, I would run out money before the end of the 30 years–in 29 out of the 117 possible 30-year historical cycles.

Personal Capital Price: Free Calculate your net worth. Set a budget. Manage investment accounts. Plan for retirement. Sign Up Now. It’s Free! Full Disclosure: We earn a commission if you click this link and make a purchase, at no additional cost to you.

You can use the Investment Checkup feature that asks you to create a basic risk profile, pick a target retirement date, and your projected income sources, and the program will recommend a portfolio for you. Finally, there is a fee analyzer that can help you to understand the fees you are paying on your current investments.

You can create goals and adjust your current contributions to see the difference it will make in your net worth, all for free, although you can also upgrade for $3 per month to enter in unlimited accounts and incomes. 5. Vanguard’s Retirement Income Calculator

This calculator is set up as a series of slider bars, including your current age and desired retirement age, your current annual salary, your current retirement savings, the amount you have already saved, your expected rate of return, and the percentage of your income you hope to live on in retirement.

The slider bars make this a very easy and fun calculator to play with, so you can see which actions you can take that will affect your retirement income. For instance, just changing my desired retirement start date from age 65 to age 68 raised my projected monthly income from about $2,500 to nearly $3,000. 6. Bankrate’s Retirement Income Calculator

Forecast your modern retirement with the Ultimate Retirement Calculator from FinancialMentor.com. Since most retirees can no longer plan on just drawing down a nest egg in retirement, this retirement calculator allows you to plan for up to three post-retirement incomes, such as part-time employment income, pension income, or Social Security income, and include the duration and growth of these incomes.

You can also print out retirement planning reports for any number of what-if scenarios by changing any factor on the calculator and recalculating. This will give you a comprehensive look at what to expect from your retirement finances, no matter how your retirement path changes with changing circumstances.