What is a retirement calculator?
A retirement calculator is an effective tool that helps people in making a retirement plan. If you want to retire from your job and want to secure your financial life after retirement, you should make a practical retirement plan. Making the retirement plan will enable you to know how much you are required to give in order to make your life secure after retirement
What is the purpose of using the retirement calculator?
Many people like to use a retirement calculator so that they can easily calculate the saving balance to be used after retirement. Moreover, people who want to calculate how much money they will be able to withdraw each year can also use the retirement calculator. You can also calculate the social security level using the retirement calculator.
What are the benefits of using the retirement calculator?
- What you are saving now may not be much value in the future. Therefore, it is important to calculate the future value of the money you are saving in the present. When it comes to making the decision regarding retirement, the first thing every person does is considering the money required to be saved for retirement.
- Every person sets a retirement target before retiring from the job. One should ensure that the set target is achieved before retirement. People can delay their retirement if they come to know that their target is yet to be achieved. Whether the target has been achieved or not can be known with the help of a retirement calculator
- It helps the person make the retirement plan effectively so that he can ensure that he is capable of leading the secure life after retirement. Many people also plan to start their own business after retirement. In order to start a business, investment is required to be made. The user can use the retirement calculator to calculate the total amount that is needed for investment
- Many people run out of money after retirement and face a serious financial crisis. A retirement calculator is a great tool that helps the person know how he can save himself from the financial crisis.
What is included in the retirement calculator?
The retirement calculator needs basic details about the person who is undergoing retirement. These details include:
- Age of the person
- The estimated age of the person at the time of retirement
- Current income
- Expected income after the annual income
- Number of years left in retirement
- Rate of return after retirement
- Expected inflation rate after retirement
Retirement calculator template:
The retirement calculator template is available for casual use. This template is not professional people. Anyone who wants to use the retirement calculator for personal use can use this template to get a rough estimate about the calculations related to retirement.
This calculator template includes all those details that a user needs in order to perform the calculations related to retirement without having to think about the complex details of the calculator.
Format: MS Excel [.xlsx] 2007/2013
File Size: 72 KB
Provided by: https://www.pagos.com/