Retirement calculators reflect contemporary retirement planning where people invest their income in a savings account to enjoy its benefits after retirement. When you search for retirement calculators you will be returned with a lot of hits and you will be confused to choose one among them. There are various organizations offering variety of calculators for financial planning for retirement. Some of them are as below:
Ultimate Retirement Calculator
Unlike the other calculators, Ultimate Retirement Calculator does the usual forecasting of retirement savings. It is unique as it permits you to plan a retirement with different types of income like part-time income, business income, etc.
Retirement Withdrawal Calculator
This calculator figures the amount you need to save in order to withdraw money each month after retirement. An advantage is that you will have an option of varying the inflation rates.
Simple Retirement Savings Calculator
This simple retirement calculator helps determine how long it would take to reach your savings goal based on the following factors: the existing savings, the amount you add to your savings, and your projected annual rate of interest.
Retirement Investment Calculator
This calculator figures out how much investment is to be made each month to reach the savings goal for a specified date.
Roth IRA Calculator
The Roth IRA calculator relates the tax values of keeping your Roth IRA. This calculator also assumes your return on investment and tax remains persistent. It also does not account for any state taxes.
The interest calculator calculates both monthly simple interest income expenditures and compound progress so you can equate the results side-by-side. The results produced by this calculator are based on monthly compounding.
Tax vs. Tax Deferred Calculator
This calculator will help you decide if the tax deferral benefit is suitable for your condition and also justifies the additional rules and government limitations.
The accuracy of the retirement calculator refers to the dependability of the results being displayed. The worst blunder a person can make is planning only for the best-case scenario and ignoring the risks. A calculator with a high accuracy will be handy, which means, it will offer a lot of various input possibilities that allow you to modify the figures in a way that matches your situation. These options include, but are not limited to, the ability to alter inputs for Social Security, pensions, inflation, advanced expense scheduling, differing retirement dates between spouses, etc.