With the right planning, preparing for your retirement will not be as daunting or costly as you may think.
My current age is .
I wish to retire when I'm Max age is 999.
I hope to live to Max age is 999.
When I retire, I hope to have a monthly income of (in today's value) $.
When you retire at , your monthly expenditure will be
This is based on an inflation rate of Max age is 999%.
This means that by age , you will need to have
To accumulate this amount of money before you retire at , you will have to start investing monthly.
This is assuming that the rate of return on your investments is Max age is 999%.
If you only start investing Max age is 999 years later, you will have to invest monthly instead.
We often don’t think about our retirement when we’re young. But it is inevitable that one day we would want to stop working and pursue other goals or keep working but for fun this time. To retire comfortably, though, you’ll need to start planning, saving and investing today to build your retirement fund quicker.
When thinking about retirement, ask yourself what your expenses may look like in the future. This could include estimating your cost of living, medical costs, number of dependents, and your lifestyle.
This calculator is designed to be an informational and educational tool only, and when used alone, does not constitute financial advice. The Simple Sum is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided by these tools. The Simple Sum is not responsible for any human or mechanical errors or omissions that may occur too. Do consult a financial services professional before making any investments.