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Determining If Your Retirement Savings Is Sufficient

Sunday, October 31, 2010 - 10:27 AM
Unless you have a large pension that's indexed with inflation, you'll need to plan to live off your savings in retirement. How much you need depends on many things like inflation and rate of return. Many websites exist that can help you determine how much savings you need.

The NY Times Bucks blog reviews the new AARP retirement calculator. I gave it a try, but I had a few issues with it.

Other ones that I've used include:

FIRECalc - A different kind of retirement calculator
myPlan Snapshot - from Fidelity Investments
Retire Secure Index (RSI) - from Wells Fargo

Do you know of any other good retirement savings calculators?
2
Ken TuminKen Tumin5,442 posts since
Nov 29, 2009
Rep Points: 123,743
1. Monday, November 1, 2010 - 2:48 AM
I like the following, because it allows you to feed in seperate variables for interest rate, tax rate, and inflation rate.  That alone would make it stand out from other online free tools.  But MOST importantly, it allows you to feed in a negative number for either monthly addition or annual addition.  If you are considering retirement and will be drawing down principal, the ability to enter a negative number is critical, and where 99% of online retirement calculators fail.

Interest Calculator

 
4
andybujiandybuji11 posts since
Jan 26, 2010
Rep Points: 49
2. Monday, November 1, 2010 - 9:45 PM
This is my favorite retirement calculator.

 

Calculators - Retirement Planner
2
plowkingplowking20 posts since
Aug 19, 2010
Rep Points: 57
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