A detailed retirement calculator will take into account income taxes, pension income, expenses, and numerous other factors that will affect your retirement income.
A simple, one page retirement calculator can help you develop a general idea of how long the money will last depending on how much you withdraw.Below you will find an excellent list of both detailed and one page retirement income calculators.
Detailed Retirement Calculators
Detailed Retirement Income Calculator By T.Rowe Price
This is a robust, multi-page retirement calculator which been designed to help you determine:
- How much you may have available to spend each month in retirement
- The likelihood your savings will last throughout your retirement
- Options to make up for potential shortfalls
One of the nice features of this retirement calculator: it has a built in monte carlo analysis which helps you figure out how your retirement investments will hold up under various market conditions. Plan on spending ten to fifteen minutes to input data into this retirement calculator.
Motley Fool's “What Will My Income Be After I Retire?”
To use this detailed retirement income calculator be prepared to have all of your financial information ready. You'll need to estimate your tax rate, expected inflation rate, and rates of return on any investments, as well as living expenses and an estimate of any part-time income you plan to have.
Retirement Calculator By CNNMoney.com
This is another robust retirement calculator that helps you estimate how well your savings program is preparing you for retirement. First it will help you figure out how much you'll need. Then it will tell you your chances of getting there. And if it looks like you'll fall short, the site offer some suggestions for improving your plan.
One Page Retirement Calculators
Vanguard
This is a cool, fun, one page retirement calculator with slide bars and graphs. Definitely worth checking out!
How Long Will The Money Last - Simple Retirement Calculator
This very simple, one page retirement calculator will tell you how long a lump sum of money will last; basically how much money you will need to provide a certain amount of income for a set number of years.
AARP's Retirement Income Calculator
AARP's retirement income calculator factors in taxes, which some of the other one page calcultors don't account for.
Nice One Page Retirement Calculator
This is a nice one page retirement income calculator that helps you to figure out if your retirement income expectations are realistic based on your current retirement funds, savings rate, age and life expectancy. This retirement calculator does not take into account the affect of income taxes.
Are You Saving Enough Retirement Calculator
This one page retirement calculator helps you estimate your future income by factoring in your current savings level, life expectancy, and whether you plan to work part time during your retirement years.
