Basic retirement calculators are a useful tool to project your required retirement income. However, they're not perfect. For example, none can predict how long you are going to live and many do not consider variables such as inflation or your personal projected Social Security benefits.
The Ol' Boomer has researched the WWW to help you find several of the best free calculators that will allow you to include inflation along with more exact personal data in your results. The best way to use these is to first determine the following:
Now that you've got some basic data to work with, you can use them to more accurately fill out one of these calculators. The first from the Employee Benefits Research Institute is the most comprehensive. While this one from the Financial Industry Regulatory Authority is also very good as well as this one from AARP .
Just remember that none of these calculators are perfect but they should help you get a good starting point for your retirement financial planning.
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