Retirement Planning CalculatorJune 4th, 2018
It’s never too late to start developing a plan and strategy for your Ottawa area retirement. The sooner you start thinking of retirement, the better your future will be. There’s a couple of reasons why having a retirement plan is useful:
- The plan is the cornerstone of your future financial goals. It’s not just about what age you want to stop working.
- Planning for retirement and making calculations helps you decide how much money needs to be saved in order to be happy and healthy in your later years.
- You will be able to make smarter investment choices, based on your personal financial and retirement goals, as well as your risk tolerance.
Using the Retirement Planning Calculator below will help you with your plans by creating various scenarios for your life. Every little adjustment you make can impact exactly how much financial stability you’ll have during your retirement. How much do you want to save? How will be you need to put aside? Have your questions answered and plans solidified quickly.
Let’s get started.
Retirement Savings Calculator — calculate savings required to reach retirement goal
This calculator easily answers the question "Given the value of my current investments how much do I need to save each month to reach my retirement goal?"
The user enters their "Current Age", there expected "Retirement Age", the "Annual Interest Rate (ROI)" (annualized Return on Investment one expects to earn) and "Amount Desired At Retirement".
The calculator quickly calculates the required monthly investment amount and creates an investment schedule plus a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
If you need a more advanced "Retirement Calculator" — one that calculates many more unknowns and one that calculates assuming retirement income and not a final lump sum then try the calculator located here: https:/financial-calculators.com/retirement-calculator