Four Free Financial Calculators You Need Before You Retire

A classic coupe, a cozy two bedroom home and a bank balance big enough to afford an annual vacation to the Pacific. This is the great American retirement dream. This is the reason most of us sacrifice a good enough portion of our monthly income on retirement plans. Unfortunately, things don’t seem to be working as expected for most plan holders.

One of the major reasons behind failure of retirement plan is the way people jump on them without proper analysis of their situation. Retirement plans are long-term decision and therefore they require expert analysis and failsafe planning. Not only must you ensure you are saving enough to live your dream after retirement, but also decide how you will invest the money to enable a steady stream of income after you have retried.

So, there are a lot of questions and while you might still have a few good years to go, it is never too early to make a positive change in your plan. We have asked our experts to help us create free financial calculator that can play a significant role in your retirement planning. And here is a list of four of the free financial calculators our experts regard as extremely useful for anyone who wants to spend their post-retirement life in luxury.

401(k) Savings with Profit Sharing

401K retirement plan is the most common and basic plan offered through your employer. However, as most of the baby boomers are now retiring, the shortfalls of the plan have become ever more eminent. It is not the plan that is flawed, it is the planning. Most people failed to opt for the plan with proper calculations regarding the savings and profit sharing. This is exactly the mistake this calculator will help you avoid.

Retirement Nestegg Calculator

One million is no longer enough amount of money to ensure a luxurious retirement. According to most experts, in a few years, it won’t be enough for a frugal one. There are a lot of factors such as inflation and the time-value-of-money that come into the play. The retirement nestegg calculator will help you determine the exact amount that will help you ensure a secure retirement. You must manage and modify your saving plans according to that amount.

Retirement Shortfall Calculator

Retirement is a reality everyone has to face. This reality can be quite risky as well. For many people, the retirement saving or fund they have accumulated is exhausted in a very short period of time. If you want to avoid that from happening in your case, you estimate the total amount of funds as well as the period for which that fund will last for you. This calculator will help you find out the answer and avoid the risk.

Investment Return calculator

This is not exactly a retirement calculator but it is very important for people who have invested their money to ensure a steady income after retirement. This calculator helps you make an educated decision without missing out any factor that might affect your saving amount and objective. This calculator help you analyze your returns without overlooking taxes, inflation, time sphere and other factors that affect the earning.

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