The Retirement calculator is one of the most popular on RBD so far. This calculator takes in five variables and calculates how much money you’re on track to save at your retirement age versus what you’ll need for spending in retirement.
These numbers are mostly on the mark. However, it assumes you’ll need to maintain your current income level into retirement. If you save half of your income, you’re living on half your income. So you won’t need as much. Retirees have more flexibility in their lives that usually they can control spending. And the further they age, the less they spending on living expenses.
So this calculator is helpful, but I think it over-estimates again how much you’ll actually need at retirement. However, I like my retirement calculator to overestimate what I’ll need to build in a buffer.
Input your numbers into the retirement calculator below to see your results!
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