Retirement calculators convert your inputs - age, salary, savings, Social Security estimates - into projections for retirement income and savings longevity. Use them annually, test multiple scenarios, and consult a financial professional for complex decisions.
Retirement planning is about defining your desired lifestyle and retirement date, calculating the retirement gap, and taking practical steps - start early, use tax-advantaged accounts, diversify, and review regularly - to protect purchasing power and close the gap.
Start early and plan for inflation. Determine the lifestyle you want, set a retirement date, run a financial needs analysis, and review your plan regularly to close the retirement gap.
Retirement calculators turn goals into action by estimating needed savings, illustrating compounding, and testing trade-offs. Use them with realistic assumptions, include fees and taxes, and consult an advisor for complex situations.