Retirement is a scary thing. It can be hard to plan for retirement, and it’s easy to get lost in all of the planning you need to do before retirement. If you’re feeling stressed about your financial future, don’t worry. We have some great tools for calculating your income during retirement. Check out our 4 favorite tools below:
Wolfram Alpha
Wolfram Alpha is a great resource for generating income and expense estimates. You can see how different expenses will grow over time, making it easy to plan for your retirement years. If you’re looking at the big picture of when you want to retire, this tool is beneficial because it helps estimate what kind of investments you’ll need to make to hit your goal.
If you’re looking at a specific point in time, this tool is also great because it can help figure out how much money you’ll have saved up based on the amount coming into and going out of your accounts each month. This makes budgeting easy! If there’s an emergency, this calculator can also help you figure out how much money you’ll need to survive until your next paycheck.
401k Maximizer
401k maximizer is another great tool for planning your retirement. It uses some pretty sophisticated algorithms to help make the best possible investment choices. It even has a calculator that can give you an idea of how much money you’ll have when you’re retired. This site also provides tools for budgeting and saving.
Bankrate Retirement Calculator
Bankrate retirement calculator is also a great option if you’re looking for more guidance. It’s easy to use, and it can help give you an idea of how long your money will last in the future! This tool factors in inflation so that it can give reasonable estimates about what kind of expenses you’ll have when retired.
One of the unique things about this calculator is that it also takes your current savings and investments into account. It can give you a pretty good idea of what kind of return on investment you’re getting, so if you want to set some goals for yourself or figure out how long your money will last based on where your portfolio currently stands, this is the calculator for you!
Personal Capital Retirement Planner
A personal capital retirement planner is a great tool for figuring out how to plan your expenses while retired. It helps you figure out what kind of income will be needed in the future, and it also shows you where your money currently stands so that you can make budgeting decisions accordingly! This calculator calculates inflation based on government data so that you can be sure the numbers are as accurate as possible.
One of my favorite things about this calculator is that it also looks at how much your income will change during retirement, so if you’re planning to ease into retirement and make less money after working for a while, this tool can help with those projections. It’s easy to use, and it also has a very user-friendly interface!