It seems like every investment advisor and 401(k) company has been rolling out a new and complex retirement planning tool every week while forgetting the need for a basic and simple retirement calculator.
The problem is - they’re not simple. Every week, they get more and more complex and yet, at the same time, harder to use and control.
And yet, despite their increasing sophistication, they’re still producing inaccurate results and diverging responses. One site will give you one piece of advice while another will tell you something completely different.
One site might allow for variances in state income tax rates while another will account for inflation. One site could ask you to list every asset you have, while another just wants the basics.
And if you don’t understand the results - or get the right ones - it could put your retirement at risk.
Underestimating how much you need to save could leave you with a retirement shortfall, while overestimating can cut into your money now - meaning you have to sacrifice expenses like college tuition or extra payments on your mortgage.
Despite all the risks, you can get quite a lot out of simple retirement calculator p
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