Retirement Planner Calculator

Calculate the monthly payments for a mortgage loan. Enter your sale price, any down payment you're making, the interest rate and the term of the loan. This calculator will then show you the monthly principal and interest payment, the total amount of interest you will pay and the total amount of money you will spend over the life of the loan. You can also enter the points and other closing costs and roll those into your loan. You can even enter an additional payment amount you intend to pay each month to work down your principal and the calculator will show you the anticipated payoff time. You can display and/or print the amortization schedule for your loan.

Input Fields:
Title A title for these calculator results that will help you identify it if you have printed out several versions of the calculator.
Age Your current age.
Retirement Age The age you will be at retirement.
Current Household Income Your household income. 'Average Salary Increase', 'Retirement Contribution', and 'Expected Retired Living Expenses' will be calculated using this amount so include only steady income that figures into your retirement.
Average Salary Increase The average percentage you expect your 'Household Income' to increase each year.
Retirement Contribution The percentage of 'Household Income' that you contribute to your retirement savings or investments.
Current Retirement Savings The current balance of your retirement savings or investments.
Pre-Retired Savings Growth The average percentage you expect your 'Retirement Savings' to gain in interest or increased value (not including 'Retirement Contributions') each year BEFORE you retire at which time it is likely you will move to a more conservative growth plan.
Post-Retired Savings Growth The average percentage you expect your 'Retirement Savings' to gain in interest or increased value (not including 'Retirement Contributions') each year AFTER you retire and have set your retirement portfolio to a more conservative growth plan than before retirement.
Social Security Age The age at which you plan to begin receiving monthly Social Security benefits.
Expected Social Security Income The amount your annual Social Security statement shows you will receive if you begin receiving benefits at 'Social Security Age'. This amount will be adjusted for inflation each year.
Average Inflation The average inflation rate which will be used when calculating 'Expected Social Security Income' and 'Expected Retired Living Expenses' to represent those numbers in future dollars.
Expected Retired Living Expenses The percentage of your 'Household Income' you expect to need during retirement. This amount will be adjusted for inflation each year.

Output Fields:
Retirement Funds Depleted The year your retirement funds may run out. 'Never' is good. That means your retirement investment should make more in interest and returns than you draw for living expenses.
Age at Depletion Your age when your retirement funds may run out. 'N/A' means your retirement funds should never be run out.

Buttons and Checkboxes:
Show Amortization When checked, a section will appear below the calculator showing the complete amortization table.
Help Brings up this Help window.
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All calculators are made available as self-help tools for your independent use with results based on information provided by the user. All examples are hypothetical and are for illustrative purposes only. Calculated results are believed to be accurate but results are not guaranteed. Investment calculation results are intended only to assist you with investment decisions and is broad in scope and does not consider your unique personal investment needs or financial situation. Growth calculators (like Retirement or Savings) depend on the average return you expect. Since rates of return will vary over time, particularly for these long-term investments, your exact return percentage and results will most certainly be different. Before making any final decisions or implementing any investment strategy, users are advised to obtain additional information and advice from your accountant and other investment advisors who are fully aware of your individual circumstances.
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Updated 07 Mar 2010