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Simple Retirement Definition
It is never too early to start planning for retirement; as soon as you are financially able to begin putting money aside, you should begin doing so. After all, your ideal retirement age will be here before you know it, and the last thing you want is to have to work beyond that age in order to save up enough money for a comfortable retirement. By using our simple retirement calculator, you can figure out how much money you should begin putting aside now if you want to live a comfortable life after retiring from your current place of employment.
Before you use our retirement calculator, there are a few factors that you will want to take into consideration. For starters, you should think about when you would ideally like to retire. Generally, most people retire around age sixty, or after thirty to forty years of working. From there, you should think about the type of lifestyle that you want to live once you retire. Will you be comfortable with living on the same salary as you are now, or will you require more money? Furthermore, if you will have large assets paid off by the time you retire, such as your home, then you may want to take this into consideration when determining the annual retirement salary you will need as well.
How to Use Our Calculator
Once you have some idea of what you want out of your retirement and the specifics as to when you would like to retire, then you should give our calculator a try. It is extremely easy to use and it only takes a few seconds to input the necessary information. To begin, you will need to fill out some basic information about your current salary and your anticipated retirement. This includes:
Your required annual income upon retiring
How many years you have remaining until you plan on retiring
How many years you plan on drawing on your retirement income after retiring
The estimated annual inflation percentage
The estimated annual return on your contributions
Upon inputting this information, all that is left to do is to click on the “calculate” button and up with helpful and accurate information about your retirement. Specifically, our calculator will provide you with:
The total amount of money you will need to save for a comfortable retirement
How many years it will take you to save this money
How much money you will need to save per year in order to reach your retirement goals
Once you know how much money you need to start saving each year, you can begin setting feasible goals for yourself in order to make this happen. Specifically, if you have not done so already, you may want to look into opening up a retirement fund, such as a 401K or something similar. This will allow you to earn interest on the money that you contribute. In some cases, your employer may also contribute to your retirement fund as well.
Aside from opening up a retirement account, you may also wish to work with a financial advisor who specializes in retirement planning as a way of getting helpful advice to keep you on track with your goals. This way, you can ultimately save up the money that you need to live a happy, prosperous retirement without having to worry about finances.
Planning for retirement may seem like a hassle, but it is something that you should think about sooner rather than later. Luckily for you, our retirement calculator can make planning much easier.
How to Calculate Simple Retirement
Let's be honest - sometimes the best simple retirement calculator is the one that is easy to use and doesn't require us to even know what the simple retirement formula is in the first place! But if you want to know the exact formula for calculating simple retirement then please check out the "Formula" box above.
Add a Free Simple Retirement Calculator Widget to Your Site!
You can get a free online simple retirement calculator for your website and you don't even have to download the simple retirement calculator - you can just copy and paste! The simple retirement calculator exactly as you see it above is 100% free for you to use. If you want to customize the colors, size, and more to better fit your site, then pricing starts at just $29.99 for a one time purchase. Click the "Customize" button above to learn more!