RetirementCalculator.org, an informational website for retirement planning, announces the launch of its latest spreadsheet-based retirement calculator. The new-and-improved calculator now includes information for calculating longevity expectations relative to current savings, investment, returns and inflation data.
“Retirement planning can be highly-complex and overly marketed,” says Troy Jenkins, manager for the site. “What we’ve effectively done is taken at least some of the onus for understanding retirement from the retirement planners and helped to simplify so individuals have more understanding of their retirement needs. We’re hoping the calculator will provide at least some help in computing the needs of retirees when they eventually do retire and how their current savings, Social Security expectations and investments will be able to cover the expected expenses in retirement.
In addition, the calculator also helps individuals adjust for vary degrees and expectations when it comes to inflation. “Inflation can be one of the biggest killers of savings and investment,” says Jenkins. “By at least being able to prepare for the asset depletion that results from inflation, individuals can better plan for how to treat current savings and retirement asset allocation.”
Recent statistics indicate that most near retirees remain unprepared or underprepared for retirement. In effect, most will not only have little savings to live-on when they enter retirement, but many are expected to run out of their nest egg long before they pass away. Consequently, RetirementCalculator.org’s resources now includes calculation information on longevity expectations, but also will showcase how long your retirement savings will last given current cash, investments, return rates and inflation rates. “The hope is to provide enhanced tools for avoiding the pitfalls many individuals make when it comes to retirement planning,” says Mr. Jenkins.
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