Do you plan to retire in the near future? If yes, it’s crucial to review your savings regularly to determine whether you’re on the right track. An analysis of your retirement readiness begins with the retirement calculator. Be aware that a majority elements of your analysis will require assumptions from you, and these assumptions might be false or not.

• Where are you on your journey? How old are you and what amount have you put aside to retire?
• At what point will you retire and how long will you remain in retirement?
• What amount of income do you require in retirement and what amount will be paid with Social Security and/or a company pension?
• What is the annual percentage of returns do think you will earn from your investments and how will inflation affect what you consider to be the “real” rates of returns?

With these information you will be able to determine the amount of extra savings you’d require each year to achieve those retirement objectives.

A retirement calculator could be an the ideal starting point for your retirement plan, taking into account what’s known and not known right currently. Since things are constantly changing you must be sure to check the calculator regularly, maybe every year.