So tonight I spent over an hour checking out online retirement calculators. It was a little confusing but I think I got the jist of it after having filled out four or five of them. The one I liked the most was on Bloomberg.com, I have included the link to the right. This calculator was pretty simple and gives a very general idea of what your retirement could look like. Basically you want to know:
- How much you make now
- What percent you think your income will increase yearly until retirement.
- What percent of those earnings you will put into retirement
- How much you have invested for retirement (IRA's, 401 K's, Pension Plans, etc)
- What is your expected yearly return on those investments before and after retirement
- What are your anticipated expenses during retirement
The nifty thing is it gave me a cash flow report to use as a guideline as I try to reach my savings and investment goals each year. Although I feel this is a good place to start, I will do more investigating and get a few professional opinions.
I am about 25% of the way toward FEELING GREAT about my retirement plan...
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I swear I am NOT ignoring or avoiding you...my phone crashed wed nite and I am getting it back this morning...hopefully. Then I will call u...but I heard your message while at the sprint store and YES I wanna go to hairspray.
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