Incorrect Retirement Calculators
Most of the retirement calculators on the Internet give incorrect results.
Most of the retirement calculators are nothing more than sales tools for the companies that sponsor them on their websites.
I don't know about you, but I used several retirement calculators from respected investment companies and they told me that I was going to live in a cardboard box under a bridge in my latter retirement years.
When I researched the basis for retirement calculators, I realized that most of them are sales tools to attract you to use the company for your financial planning and investments. These calculators called “teaser” retirement calculators. They tease you into thinking your retirement plan is in trouble so you will use the company’s services.
Another pet peeve of mine is most of them assume you will need 70 – 90% of your pre-retirement income for your retirement income. If you really analyze your spendable income during your working years, you probably never had that much income to spend on yourself. Just think about paying your mortgage, sending kids to college, saving for retirement, supporting multiple vehicles and so on. If you never had that much spendable income, why will you suddenly need that much when all the obligations of your working years have been satisfied? I recommend you seriously evaluate your projected retirement expenses and establish a retirement budget. I predict you will need much less than the 70%.
I started a website to evaluate retirement calculators at
www.best-retirement-calculators.com
Read about the best free retirement calculators I have found so far
view link
view link
I also have a page on retirement expenses to help you evaluate your expenses against a model statistical couple preparing for retirement.
view link
Please give me any suggestions for improvements to the best retirement calculators website or suggest any other calculators that should be included.
Thanks, John Howe
Most of the retirement calculators are nothing more than sales tools for the companies that sponsor them on their websites.
I don't know about you, but I used several retirement calculators from respected investment companies and they told me that I was going to live in a cardboard box under a bridge in my latter retirement years.
When I researched the basis for retirement calculators, I realized that most of them are sales tools to attract you to use the company for your financial planning and investments. These calculators called “teaser” retirement calculators. They tease you into thinking your retirement plan is in trouble so you will use the company’s services.
Another pet peeve of mine is most of them assume you will need 70 – 90% of your pre-retirement income for your retirement income. If you really analyze your spendable income during your working years, you probably never had that much income to spend on yourself. Just think about paying your mortgage, sending kids to college, saving for retirement, supporting multiple vehicles and so on. If you never had that much spendable income, why will you suddenly need that much when all the obligations of your working years have been satisfied? I recommend you seriously evaluate your projected retirement expenses and establish a retirement budget. I predict you will need much less than the 70%.
I started a website to evaluate retirement calculators at
www.best-retirement-calculators.com
Read about the best free retirement calculators I have found so far
view link
view link
I also have a page on retirement expenses to help you evaluate your expenses against a model statistical couple preparing for retirement.
view link
Please give me any suggestions for improvements to the best retirement calculators website or suggest any other calculators that should be included.
Thanks, John Howe
