A retirement calculator is a tool that can show you how much you'll need following retirement. It can help you plan your investments in order to build the retirement fund you want at retirement.
The retirement planning calculator can serve two major functions. It helps you determine how much money you will require to sustain your lifestyle post retirement. If you are looking for a retirement planning calculator, then you can contact expatwealthadviser.com/retirement-planning/.
The retirement calculator comes with the formula box in which you choose your age, your age that you'd like to retire, your expected life expectancy, as well as the amount of income per month you'll require when you retire. You should also select the anticipated rate of inflation (a reasonable estimate is 6-7% per year) and the expected return on investment and if you've put aside money to retire.
The retirement calculator will provide you with the income you'll need to retire, the additional amount you will need to accumulate to fund your retirement as well as the savings per month to build the retirement fund you'd like.
It is necessary to enter the age of your current year with the help of the slider. Then, enter your desired retirement age as well as your life expectancy. Input the monthly income required for retirement, as well as the anticipated inflation rate and the anticipated return on investments (Both prior to and post-retirement).
This ClearTax Retirement Calculator tells you the required annual income immediately following retirement, the retirement savings that need to be saved, and the savings needed each month to accumulate the funds.