Description: The following article mainly has the topic about retirement calculator. This retirement planning calculator gives you the power to input different scenarios, run them, save them, analyze them and see the impact of what variables you can manage to maximize your retirement.
My name is Hank Rogers. I’m happy to share with you for a couple of minutes this exciting retirement planning calculator that I developed. I took a look at a lot of calculators over the internet in the last year. None gave you consolidated information or showed you as much detail as you want to see how you get from one number to the next.
None gave you impact analysis being able to play with your inputs, copy your result and analyze your data to see what variables have the biggest impact, in one simple consolidated tool this is what I provided you with here. What you’re looking at here is the main screen.
This is your retirement tab, there’s a notes page that tells you that everything that is copyrighted on this describes how the tabs work, macros, the various inputs, your expenses, all your data is input on the inputs tab, what’s in yellow are your suggested minimum entries.
If it applies if you have annuities, pensions, rental income, all those can be applied as well, then you click to view the retirement table, you’ll also enter your monthly expenses on the retirement expenses worksheet, this information will take your monthly expenses and analyze them bringing them back to the retirement calculator, it will show you your projected annual expenses and then your projected net income.
The inflation tab will adjust both your income and your expenses up and down for inflation respectively, let’s go back and take a look at the retirement tab, by default this is your view, I had built some macros in here, you can modify inputs.
You can view the retirement table, there’s a stocks and funds tab where you can input your stocks and your information and track it, when you reset the expenses on the inputs tab, it does not clear it, this is individually on the expenses tab.
You have a reset expenses here because from the retirement tab reset inputs will reset all of these inputs but leave those intact, so the way the retirement tab works shows you if you run out of money at age 86, one of my favorite things about the calculator is dynamic, it shows you that your withdrawals have been exceeded your income for that year.
The other thing that I have in here is that you can view retirement snapshot summary, this shows you where your balance is now and where they will be at retirement, I’ve tried to make it very easy to navigate back and forth, you can freeze row headings, keep them stagnant.
You can see all columns and see exactly that I start from beginning 401 K, you can see any interest, catch-up contributions, my investment, same for the IRA and the Roth, then what happens in retirement, whether I have pension and annuity and rental income, Social Security income and what I need.
The idea is your income during retirement, we have a retirement income goal as a percentage of your salary, back on the inputs we’ve had this defaulted to 80, now we’re going to change our retirement goal to eighty percent, we’ll up our income to 100,000.
Our goal is 80,000, the idea is taking a look at what are our expenses versus our income goal, in this case our annual income is less than our retirement goal, so we’re going to have to start withdrawing money, this calculator takes a look at all that and what your needs are going to be.
You’re able to adjust for inflation by keying in the current inflation rate, keying in here will take you to the most current inflation rates, this will adjust for you, you can see the impact of very low inflation, if this inflation goes to one percent 77 as opposed to 79 about a two-year differential.
I chart your retirement, we’re broke at 79 with inflation broke at 77, Social Security gives you the explanation and shows you when your income can be the percentage less, if you take it early or if you wait, these tables are provided for your benefit.
We track pensions, annuities, 401k, IRA, Roth individually, you can do some snapshots scenario here, we have this defaulted to four percent, the biggest benefit to this is that we have our scenarios that we’ve done, this is scenario one, I go to retirement, I see everything, maybe I want a detailed view, I hit copy report, it’s going to take that to the very end of my workbook and show me everything that I have.
Based on these inputs, I can go back after analyzing it and vary the inputs, copy report limitless times, there’s no other tool like this out there, I encourage you to go to my website, click on products mortgage and retirement calculators, scroll down and add to your cart, it’s only 6.99, you can invite lunch for that, invest in your future today, happy retirement, thank you.