Retirement Planning

Do you know what retirement looks like for you? In this section you will learn concepts to calculate a retirement plan that helps ensure you are comfortable in your retirement.

Key Concepts

Forecast how much money you need to retire
Determine how much you need to save to meet your retirement goals

Activities
Resources

Retirement Calculator

Retirement Calculator
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Calculate Funds Necessary To Retire
$ Estimate Yearly Retirement Spending Goal
Multiplier Table (See table under Resources) (Current Age: Retirement Age)
$ Total Retirement Funds Needed
Calculate Future Value Of Current Savings
$ Current Amount Saved
Future Value Factor (See table under Resources) (Yrs. Until Retirement: Expected ROI)
$ Future Value of Savings
Calculate Annual Savings Needed To Meet Retirement Goal
$ Savings Required for Retirement (Retirement Needed – FV of Savings)
Periodic Payment Factor (See table under Resources) (Yrs. Until Retirement: Expected ROI)
$ Amount To Save Each Year