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2. Making a Wise Choice: Retirement Planning Calculator Retirement planning is a more complex issue today than it has ever been. The fluctuating economy, trembling social security program, and lack of planning have caused couples who are of retirement age to suffer in their late years, not having enough money to live on and sometimes requiring them to go out and get a job rather than being able to enjoy their retirement years.

3. There are retirement planning calculators There are retirement planning calculators that are individualized to fit most walks of life with the various types of jobs, income and retirement plans. There are also military retirement calculators that help military personnel to determine their retirement needs based on their rank, term of service and other options.

4. Types of Information Retirement planning calculators take the basic information about the individual and his or her spouse (if applicable) and apply it to the goals the individual has for his or her retirement. Although these calculators are helpful in determining if the individual is on the right track with his retirement savings plans, it is always a wise choice to go to an official retirement planner at a bank or other financial institution to determine what the best options are for that individual.

5. Retirement planning calculatorsask the individual Retirement planning calculators ask the individual what his age is at present and what his spouse's age is. Then it asks for what each of their incomes is at present and what the percent increase in that income is each year. It also asks what retirement age each individual is looking at and what their life expectancy is.

6. It is always wiser It is always wiser to put in a longer life expectancy than a shorter one since more money is needed for a longer one and the person does not want to run out at the end of his life. In addition, retirement calculators will ask what the individual wants his income to be at retirement so that he can maintain the lifestyle that he is used to living.

7. After that information is obtained After that information is obtained, the retirement planning calculators will ask what the current amount is in a 401K or other retirement plan the individual has and what percent of his income goes into the plan each year. It also asks how much the company contributes to the plan.

8. After that After that, retirement planning calculators ask about any other savings plans such as CDs, savings accounts, IRAs or other plans that the individual is contributing to each year. The retirement planning calculator then determines whether the individual is on the right track to meet his retirement goals or if he needs to increase his savings plan.

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