Retirement Planning Calculator?

[jyl]

Does anyone have a really good retirement planning calculator? Something where you can plug in different assumptions for savings, investment return, pension and social security benefit, retirement age, inflation, CPI indexing, withdrawals, taxation, etc and see how they affect the result? I started building one in Excel but am not compelled to reinvent the wheel if I don't have to.

[biosurfer1]

Look up the FIRE calculator...a lot of inputs but worth the time, there are forums around that people will help you figure it out if needed.

[dan88911]

There might be something here. Retirement Calculators -- Bankrate.com

[Aurel]

Retirement Calculator | CNNMoney

[HarryD]

Fidelity investments has a nice tool as well.

https://www.fidelity.com/calculators-tools/retirement/overview

[pcarhiway]

This one from black rock is interesting;

CoRI

[Jim Richards]

Originally Posted by biosurfer1

Look up the FIRE calculator...a lot of inputs but worth the time, there are forums around that people will help you figure it out if needed.

FIRECalc: A different kind of retirement calculator

Thanks for the suggestion. I'm going to check it out for my personal needs.

[herr_oberst]

Tell me about this "retirement" you speak of?

[Shadetree930]

Originally Posted by HarryD

Fidelity investments has a nice tool as well.

https://www.fidelity.com/calculators-tools/retirement/overview

Agree 100%. The Fidelity Retirement Income Planner is one of the most comprehensive financial planning tools out there. If properly completed, it will give you results that mirror the projections you will get from paid financial advisers.

[jyl]

Originally Posted by herr_oberst

Tell me about this "retirement" you speak of?

Ha ha, I'm trying to live long enough to find out.

[sammyg2]

Originally Posted by HarryD

Fidelity investments has a nice tool as well.

https://www.fidelity.com/calculators-tools/retirement/overview

That's the one I'm using, not too bad.
Assuming certain paramters continue as expected, I should be able to retire at 62 and have quite a bit more take home pay than I have now.
But ya never know ...

[ckelly78z]

I think the main idea should be to eliminate as much expenses before retirement as possible. Try to pay off the house, you don't really need that brand new car/truck, the kids should be out by then as well, you won't need to spend all the money on buying lunch, commuting fuel in the car, parking fees, new business clothes etc......

Most retirement calculators don't take all this into consideration when they say you need to replace 80% of your current income. I will probably have 100% of my current income because of good planning and some luck, and I refuse to be tight with money for 25 years of retirement.

[jyl]

For sure, expenses can and should go way down in retirement. No kids to put through college, no mortgage, that can cut typical expenses by half or more right there.

[Vintage Racer]

If you need calculator help, you are not ready to retire.

[emac]

I was told by a retired friend that he has more money after retiring then when he worked-- I used Fidelity and worried that I would make it. Bottom line is I tried to do all the right things during my working years albeit a divorce many years ago hit me in the pocket hard, and guess what? Retired for two years and I really haven't changed my lifestyle and live comfortably.
PS: Retired cop with a small pension and then fifteen years with Unilever.

[jyl]

I'm 15 years away from retirement, and want to do some mid-term assessment, planning, course corrections if needed. Thanks all for the calculator links. I'll check these out.