Financial Calculator

A good retirement calculator is only a first step tool in developing a quality retirement plan. It can give you a high level perspective, but the key to success lies in your ability to dive into the planning details and establish a practical plan based facts. And you need the ability to adjust the plan over time as circumstances dictate.

Most businesses and government agencies can’t forecast their revenues or expenses accurately one year in advance yet financial planners, insurance sales people and other advisors suggest you should project your needs 10-15 years into the future.

Put a plan in place today and you still don’t know what your health will be one day from now let alone 10 years into the future. You don’t know if your job will still be there. You don’t know the situation of spouse, children, parents and extended family. And you certainly don’t know how much the government will take.

All of this simply demonstrates that retirement planning is a process not an event. And the various financial calculators that are offered can be useful tools in that process. Most calculators offered on the internet without charge and are similar in function. But they inject just enough guilt or gratitude that you hopefully agree to meet with the company representative offering the calculator.

Take some time and download a calculator or two and play around with a few scenarios. In the process you may meet an advisor that can bring meaningful value to your plans. Start with your current age and project a couple of different retirement ages such as 60 years old and 67 years of age. The calculator will ask about your income now, how much income you would like to have at retirement and what you have saved currently. What you will get is an estimate of what you will need to save to get the income you want. But now the real visionary work begins.

Remember that your life is so much more than a number in a calculator. Don’t assume your life ends at 60 or 70 or even 80. Start a new vision or re-vision in every dimension of your life. What dreams do you have? Start a business, travel, plant a garden, build something out of wood, or find a new mate.

Retirement planning is not an exercise in surrender to limitation, regret and frugality. It can be the beginning to the most productive time of your life. It can be a period of personal discovery and growth. Retirement can reveal that your happiness isn’t dependent on anything external but an incredible journey to an understanding of who you really are.

Start early. Get something on paper. Use the diverse financial calculators and their planners as a guide and then make adjustments along the way so you stay on course. Most importantly have fun today because tomorrow is not guaranteed to anyone.

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About The Author

For more than 20 years, Karl Edmunds has been a noted author within the business and management consulting arena. As a senior, he now engages his curiosity and observations about life to write about key issues of importance to the growing community of seniors (Boomers), and the value of living life to the fullest every single day. Give me your comments and suggests at http://For-Seniors.org