Question for the Money Doctors
Question submitted on Feb 2, 2011.
QuestionI have used several of the online web based retirement planning calculators and have not gotten the same results from any two. I realize they each have different underlying assumptions. I would like to know which webbased calculator is the most conservative and could be somehow recommended to use.
Since you are not referencing the specific calculators you have tried, I cannot provide an opinion or comparison. However, CNNMoney.com has a basic retirement calculator. The Genworth site has both a retirement income and retirement planner calculator. This is useful should you want to estimate how much monthly income your retirement savings may provide at a specified retirement age as well as determine your retirement income needs in the future. There is also a retirement shortfall calculator which estimates how long your retirement savings will last based on current assumptions.
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