New Tool For Calculating Your Retirement Savings

Getting an estimate of how much you have to put away in terms of retirement savings? There are tons of retirement calculators on the Net, with the AARP’s old retirement calculator among them. The older release required the user to input numerous variables such as expected retirement age, life expectancy, Social Security payments, and an approximate yearly inflation rate. Because of the complexity of the process and the data required, many Internet users who wanted to calculate their nest eggs didn’t go through the entire process.

Enter the AARP’s newest retirement calculator. The online tool has been redesigned to help seniors figure out their financial needs for retirement, the possibility of retiring at the projected date or earlier, and extra information on what to do to better achieve their financial goals for retirement. The association’s financial security director Jean Setzfand said that the new version was developed to make the tool easier to use and more attractive to near-retirees, and ultimately help people get through the calculation process and finish it to arrive at an estimate.

Part of what makes the new calculator more attractive is that the tool now has preloaded variables such as those mentioned above – this speeds up the process because users no longer have to estimate the figures themselves. For example, you can start using the tool with a preloaded age of expected retirement and click on a button to estimate monthly payouts from Social Security after you reached that given age.

You can still input data instead of using the preloaded details if you want to get a more accurate assessment based on your own personal and financial situation. The calculator also does a better job of explaining the info you need to enter while making it easier to see how your retirement situation will be affected if you change some of the factors. Even if it is much easier to use than the prior version, you’ll still need to input accurate information for a better assessment. {youtube|100|campaign}