Best Retirement Calculators

 

 

 

 
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AARP Retirement Calculator

The AARP Retirement Calculator is a very capable calculator as you would expect from a product sponsored by AARP.

The AARP calculator requires input for both husband and wife.  It has  options to indicate if the income will survive the death of the spouse and go to the living partner.

It allows you to estimate the rate of inflation where most other calculators estimate it for you.  In 2008, we may see a rise in inflation.  Also, medical costs for retirees are rising faster than the standard inflation rate.  Increase your estimated inflation rate to allow for the increased projected increase in inflation.  See the Inflation page on this website for more information.

This calculator also has an "Other One-Time Benefit" input where you can project selling your house when you move to an assisted living facility.

The AARP calculator is good, but it is not the best free calculator available.  See my recommendations for the best retirement calculators.

The AARP calculator has three steps (tabs) that you must step through to complete your projections. 

AARP Retirement Calculator

The first tab - Retirement Needs is where you enter the basic information.

On the "Desired Annual Household Income During Retirement" input, click the "Estimate" button for help estimating your current living expenses or read the Retirement Living Expenses page on this website.

The second tab - Funding is where you input the amount of your retirement assets, how much money you are currently saving, and how much you expect from social security, pensions, and retirement jobs.

The third tab - Results shows you the results of the calculations. 

This calculator has a weakness.  It does not allow you to input the age when you plan to stop working at your retirement job.  This will cause the income from your retirement job to be overstated.

Access the AARP Retirement Calculator on the AARP website.

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