Best Retirement CalculatorBest Retirement Calculator

The best retirement calculators aren’t bullet-proof, as they can’t predict the future and the many variables that will determine whether baby boomers have done enough to secure a financially successful retirement. But with the right inputs, a good retirement calculator can help you get a feel for whether your savings and investments are on track to meet your goals or if it’s time to make adjustments. Find out ex-ponent.com

Among the calculators we reviewed, these three stood out for their ability to provide an easy-to-read analysis of your financial situation and the impact of changes in key assumptions. All of them cover the basics, including how much you and your spouse have saved, how fast you can expect to add to your savings over time, and estimates for Social Security and pension income in retirement. Some go a little further, asking for information about tax rates and even modeling the sale of substantial assets.

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Developed by certified financial planner Dana Anspach, this calculator is one of the most comprehensive options we tested, with a long list of questions that asks about everything from housing costs to expected medical expenses. It also includes a unique feature that lets you model different scenarios with differing taxes and inflation rates.

Vanguard’s Retirement Nest Egg Calculator is another great tool for getting a snapshot of your current savings and investment situation. It requires the fewest number of inputs of any of the tools we reviewed (just six values) and offers a simple interface that hides a powerful Monte Carlo simulation under the hood.

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