The BEST Retirement Calculator I've Seen (Just incredible!)

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[alisonburgess]

I agree - it’s great Josh. Their whole website is really interesting actually. Thanks for that.

[oldiebutgoody]

Thanks for sharing this with us. It really helps me visualize retirement.
Great tool!

[rossmacintosh]

Wow - it lets you enter multiple income streams in retirement with different starting and ending dates as applicable. So you can enter any pensions, annuities, side hustle income, and social security -- either as a couple or a single and all with different start and end dates! Doing that gives a more realistic modelling of your risk of running out of money. I suspect it will show people they don't need so much retirement savings and can retire sooner. You can even model receiving SS at different ages.

[karenpeters]

Thank you! Can’t wait to dig in to this.

[smar]

Great tool, i'm a super saver by nature and I really struggle with spending my wealth down ...I know its crazy.

[kevinh]

You are the man! Thanks for the content.

[changeyourfinance]

You forgot to place extra income into the mix for SS retirement and any pensions folks might receive, to include spousal income and SS spousal benefits...

[changeyourfinance]

You will see that folks don't need to retire with a million dollars, when you count SS and pensions to include their budgets should decrease if they plan ahead and become debt free at retirement. Plus, live in affordable locations with lower property and state taxes as well. America is huge and you can live anywhere you want in retirement if you live within or below your means. Some states reduce your property taxes at 65-70 years old as well. Always homestead your house to receive a property tax reduction..

[joelcaldwell]

It should be noted that “broke” doesn’t mean zero income from retirement savings. It means you don’t have enough income to live the way you had planned. It means serious belt tightening.

[HB-yqgy]

Yes, awesome spreadsheet we will never run out of money mostly dead in our eighties.

[uncareid]

How did we jump from a ret. planning calculator to greenhouse gas?

[M.-.D]

Thanks for sharing the calculator.

Re: Carbon emissions. The argument is not for banning or stopping any emissions. It is about providing a market force factor which is proportional to the theoretical finite capacity of the atmosphere and the possible consequences from rapid changes to atmospheric and oceanic concentrations of CO2. Yes, some crazies are anti carbon but they are almost all misinformed or intentionally ignorant. The conversation topic has merits though, especially to anyone who argues for a free market like capitalism economy.

[gojump]

This is the best financial planning news I hear all week: *_"There's a good chance you won't even be here!"_*
LOL

[leisureblank]

so compare the percentage chance of going broke and the chance of being dead, and decide which is more important to you!

[Xinerius]

That's funny. "You'd be dead, DEAD!" haha.

[jeffraines]

Funny how people freak out about the small chance of running out of money while completely glossing over the high likelihood they would die before then 😀

[deanc]

I use this tool to gauge how much I can spend over and above my yearly expenses that I input in the "extra expense" box. In the "Extra income" box, you can input your pension income, part-time work income, SS income, and/or rental income. It's a very useful tool.

[peggyhastie]

I put my numbers in the web site as you showed the proccess. Adding death to the chart..brings something new to think about. I had to laugh my reaction was the same - you could be dead, dead, dead... had to laugh at that after recovering from the shock.

[PianoUniverse]

When you are in full retirement 75% in stocks seems risky.

[wasatchpowder]

It doesn't appear to me the graph is taking into account social security income. If I add social security as extra income, I never run out of money.