Description: The article is about retirement calculator. This is a brief introduction on how to use the retirement calculator. The author makes a tutorial on how to use the retirement calculator,you can put in the number of age and the calculator will do the rest calculation for you.
We’re currently at Flex coaching.com,we’ll be using that site for a little while this morning and we’re going to have a session on doing a training of how to use the retirement income calculator,we’re also going to show you how to utilize it on the internet or to download it to your desktop.
We’re going to click on training,we’re in the trains page,we’re going to go to financial calculators and click on there. We’re at retirement income calculator,we’re going to click it,we’re going to show you how to pull up to retirement income calculator off of our website so you can utilize it on the internet.
We’re going to exit here and go back,we’re going to click on it,we’re going to click on it and we’re going to go down and save the link,this works the same on a PC and a Mac. I’m currently using a Mac. We’re going to save it to our desktop.
We’re going to click save. We’re going to minimize the Flex coaching.com,we now have our retirement income calculator on the desktop. We’re going to click it and open it up. We already have some numbers,these are some default numbers that you will see on the retirement income calculator when you download it to your desktop.
If you want to see everything filled in all,you have to go down to the bottom where it says reset and click reset,it’s going to throw in all the numbers,whether you click on resetting or not they’re filled in,it’s not going to matter because we’re going to take you through the process by using the sample from the sales presentation.
We’ve 30 year old in that box,if we are going to use a 31 year old,you can change it and go to the next box,it automatically recalculates the current age and the numbers that you put in each box,let’s go back to the current age. We’re going to put in 30. We are in the presentation,we have utilized a 30 year old male,he’s going to retire at age 65,it still has 35 years to his retirement.
We have a drop-down box for male or female,that’s easy to figure out,you’re going to click on male or female depending upon who you’re talking to. The next number that you need to come up with is the income needed to maintain current standard of living,that’s one of the questions that you have in the presentation,utilizing the confidential retirement income questionnaire.
In the sample that we used in the presentation,the thirty year old male indicates that if he is going to read tired today,he needs three thousand dollars a month in order to maintain his standard of living. We will start with three thousand a month,we will come to retirement income calculator.
In the presentation,experts tell us that we need to use 70 percent or 80 percent of our current income in a retirement income analysis,in most cases,we recommend using the 70 percent because it’s the most conservative. We’re going to take 70 percent,the calculator automatically calculates your gross monthly income for you so you don’t have to calculate it,it is $2,100. We will come to another drop-down screen inflation.
If you’ve gone through it and learned it,this is the point that the prospective client is going to be able to choose a type of interest percentage that he expects to have from now to he retires.
The support material that you’re able to access from the training tab on flex coaching.com will give you the complete history of tracking inflation in this country. It is averaged about four percent,but he can pick one percent,you can do it at four,you can also take it all the way up to six,it’s very flexible,you’re going to have the range from one to six.
We never have to go over that,it is going to calculate the three thousand dollars a month and seventy percent with an adjusted monthly income of twenty one hundred dollars factoring in inflation,his future monthly retirement income is eight thousand two hundred and eighty seven dollars now.
The calculator is going to take this monthly income factor,it’s going to calculate it in two categories,one is for your monthly income needs for thirty years of retirement. Experts say that you should plan for at least a minimum of life expectancy plus six years,it is the lesser that you should plan for now.
It has calculated those numbers for you,that gives you the numbers of what your monthly annual and total needs are over those periods of retirement. We will drop down to see what the client has,that will help him reach his numbers.
In the retirement income calculator questionnaire,we’ve already asked what he has,he has Social Security,we plugged that in at one thousand. I believe it is one thousand three hundred ninety seven dollars based upon the Social Security retirement income chart that we provide you,that calculates the numbers out for both the 30-year totals and for life expectancy plus six years,that will contribute towards his retirement.
We have the other three sections,we will come up and look at the bottom. This total additional retirement income needs are one thousand,he has 1397,it is his social security,it gives him sixteen thousand dollars a year which is going to pay him out five hundred and two thousand dollars over thirty years of retirement.
We can see the same monthly figure on the life expectancy plus six years. The total is less,you have two hundred sixty eight thousand,it will provide him over life expectancy plus six years.
You can see your current overage or shortage. In this case,the negative indicates that he is based upon what he needs to maintain his standard of living,he’s short,he’s six thousand eight hundred ninety dollars a month short over the thirty-year of thirty years of retirement.
He’s going to be the same amount for life expectancy plus six years. It is very simple,you can plug in those numbers,you can take them to the retirement income calculator,you will utilize them in your simplified financial retirement planning presentation.
You can download this to your desktop or use it from our web page. You can type in any age,no matter what the client tells you,it’s going to calculate it for you so that you can have the numbers.
It comes up with the same numbers,your default numbers are always going to be a dollar a month in the military Social Security pitch and personal retirement categories until you change it. Once you change those number,they’ll change it in both the 30 year totals and life expectancy plus six years. If you come up with any particular questions,you can feel free to call me.