Use the best retirement calculator to plan the best retirement. It will help to plan retirement. Use a Retirement Calculator so it is not so complicated. With the uncertainty and change of economy, it is essential to keep track of the money in your savings account. According to the report of the Bureau of Statistics, 81 percent of the people go into retirement with a small amount of money in their bank account.
This might be hard to believe but the scenario is the same in most countries of the world. So, what can you do in such case? Keeping track of your savings account has never been simpler. Again, with the rising of prices, people struggle to lead a life in the budget. Luckily, there is a retirement calculator that helps you to clear the murky water.
When you search on Google for the best retirement calculator, there are hundreds of results showing up on the first page but this volume does not reflect the authenticity or quality of the calculator. So, how would you know this is the best one for you?
This is very simple because we have done this research for you. We understand the needs of our readers. Hence, we have used each of the top-rated retirement calculators all by ourselves to find the list of top 5 best Retirement Calculators available.
How we made this list?
Most of the calculators online claim themselves to be the best in the market. But, are they telling the truth? Here are the four factors that we considered while making this list:
Planning for retirement is very complicated. The main job of the best retirement calculator is to make retirement easier. Again, mostly, retirement calculators are used by older people. They need something that is simple and easy to use. Hence, simplicity was our first priority.
Most of the calculators you will find online depend on various assumptions. But, you do not need something that gives you an average result. You should be able to change anything that has an impact on your financial structure.
This is also a crucial point. We chose the tools for you that are able to give accurate as well as immersive answers.
If you need a vague result then what is the need of using a calculator? You are looking for a calculator that will make your life better. We are talking about your retirement. Hence, the calculator should give a reliable and personalized result.
These four factors were our top priority. We found these five best retirement calculators depending on these factors.
6 Best Retirement Calculators
Retirement Calculator Software
The Retirement Calculator is a first-of-its-kind software tool that provides a detailed mechanism for determining the optimal age for Retirement, and also for evaluating how long your retirement funds will last.
The vast majority of Americans today no longer have defined pension plans at their place of employment, as most of these types of plans have been supplanted by 401K, 403B, 457, IRA, and SEP plans.
As such, it has become increasingly difficult for people to gauge how much money they will need for retirement, and to determine how long these types of contributory account plans will last. This is where the Retirement Calculator comes into play.
The Retirement Calculator is a comprehensive software platform that looks at many factors in determining an optimal retirement age.
New Retirement Planning Calculator
This retirement calculator from NewRetirement offers tow very powerful tools, one is the NewRetirement Planner and the other is the NewRetirement Calculator. This calculator is personalized. Information you input here shows your current situation as well as the goal for retirement. It also suggests many ways to achieve retirement goals. As this calculator is highly customizable, this tool shows you how numbers can change life after retirement. If you are planning to retire soon, this calculator will show how much money you need.
T Rowe Retirement Income Calculator
If you are looking for a flexible yet simple retirement planning tool then T Rowe is the one for you. Whether you are retired or planning to retire, this works really great.
There are options such as your expected retirement date, current age, how much you have saved and how much you are willing to invest after retirement, etc. The result from this calculator will give your real result so you can work hard towards your goals.
American Funds Retirement Calculator
This is quite popular among Americans. This comes in two versions, one is the short version called Quick Analysis and the other is the full version called Detailed Analysis. The short one asks you 4 questions and gives the result in 5 minutes. While the detailed one will ask you 15 questions and you need 15 to 20 minutes to get your answer.
The short version gives you the basics while detailed one gives you a more in-depth idea about your life after retirement. The Quick Analysis is great if you are not ready for an in-depth analysis.
AARP Retirement Calculator
This is a very user-friendly calculator. This is not very technical but covers all the essential bases. This will show you your retirement goals and current savings very briefly. The best thing about this calculator is it is not as intimidating as other calculators.
The result page of the calculator is interactive and customizable. This makes it easier for the user to use in various hypothetical situations. Another great feature of this calculator is the lifestyle question. You can answer all the lifestyle questions in it. Then, it will tell you how much money you need for after retirement life.
Bankrate Retirement Income Calculator
The calculator from Bankrate is different than others. This is not your usual go-to retirement calculator. They have more than just a calculator. It is at a time both simple and complex. You must be wondering how? Well, it does not have one but several particular focuses.
Take Your Pick Of Calculator
This might be a bit overwhelming for some but if you are a little bit tech savvy then this can be your savior after retirement. Here, you will get to see a big list of calculators to choose from. For example, 401(k) contributions, Retirement Planner, Asset Allocations, Social Security Benefits, 401(k) with Roth IRA, etc. There are many options in the calculator. You can choose the one you prefer.
Each of the calculators is different from each other and they have different purposes. As a new retiree, you need to keep track of all your assets and money, hence, this will help you to lead a better life.
In conclusion, it can be said that the retirement calculator is designed to make life easier and better for every people. So, no matter if you are already retired or planning to retire, these calculators can be of great use to you.