Retirement Calculator

[bjl584]

http://www.marketwatch.com/retirement/tools/retirement-planning-calculator?showsmscrim=true

This is pretty simple to use. Just slide the bars at the top for your age, income, and desired retirement age. Then click on the left side where it says enter assets then calculate.

It gives a quick dirty picture of your retirement assets, but it is fun to play around with.

Enjoy!

[ua_guy]

Fun to play with, yes. Accurate? Probably not for everyone. For example, I can't imagine how I'm going to need 75% of my pre-retirement income on an annual basis, which the tool calls a "low" estimate. But it seems like a relatively manageable goal looking at it from my early 30's, and I could definitely shoot higher if I wanted to.

In general, I think "saving UP" for retirement should come with some cautionary statements. There is value in enjoying things when one is still relatively young and has health, good looks, and energy in quantity. That's not to say saving for retirement should be ignored, but it is quite a gamble to spend the next 30-40 years being extremely frugal, and then expect to jump into a lifestyle of travel, fast cars, i.e. a better standard of living than one has managed consistently during youth. Saving "FOR" retirement I think is a better goal, and should be directed towards one's ultimate goals, hobbies, and expectations about life. You may need much less (or more!) than you expect.