5 Questions a Retirement Calculator Can Answer for You

Retirement calculatorUsing a retirement calculator can help ease some of the stress of retirement planning.

One of the biggest questions people want an answer to is “When can I retire?” There’s a lot to factor in — it hinges on everything else, but a retirement calculator can help. 

No retirement calculator is perfect, but it can help you sort through the confusion and help you plan for the future. If you’re curious about just how helpful this tool could be, here are 5 questions than it can answer:

How Much Money Will I Need to Retire?

How much money you’ll need to retire depends on many factors. The cost of living in your area is a big one, as well as your income, assets, debt, and the amount you have in retirement savings. Working longer and saving more will shorten the number of years you’ll spend in retirement. Plus, it will give you more resources to live once that income stops. 

What Will My Income and Expenses Be Through Retirement?

Expenses change when you retire. You’ll no longer spend time commuting and buying clothing for work, and you may have your home paid off in full by then. For a time, your medical expenses might be lower. And then at other times, they might be higher. A retirement calculator projects your income and your expenses through retirement, based on life expectancy, and averages in your area and across the country. 

Retirement calculatorYou’ll gain important insight into your current situation, and what might need to change.

How Long Will the Money I Have Now Last?

Learning how long your money will last can help you plan a better strategy if need be. If the calculator projects your savings will be gone before you turn 77, planning ahead can help you redirect money into retirement now. 

What is My Current Financial Situation?

Are you spending too much money? Not saving enough? Do you need to purchase long-term care coverage? Would it be wise to start investing? With a snapshot of your current situation, you can spot habits and make better choices. A retirement calculator does more than tell you where you’re headed. It also shows where you are at the moment.

Retirement calculatorEarly retirement planning can help you have the life that you want.

How Do I Compare to Local Residents?

Want to know how you stack up against others in your neighborhood? Maybe your neighbors are planning better than you. Or maybe you’re leading the pack. Your results will reveal where you stand, as compared to others in your community. 

A retirement calculator is only as good as the information that you enter. Be as precise as you can. That will help give you a clearer picture of what you have, and what you need to have the retirement that you want. 

Try New Retirement’s calculator today, and start making plans for tomorrow. It only takes a few minutes. But the insight you’ll gain can help set you on a more secure path. 

When can you retire? That depends on how you’ll want to live. With a clearer picture of where you are, you can plan for a happier, less stressful life now and well into the future.

NewRetirement Planner

Do it yourself retirement planning: easy, comprehensive, reliable

NewRetirement Planner

Take financial wellness into your own hands and do it yourself retirement planning: easy, comprehensive, reliable.

Share this post:

Keep Reading

All Posts