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Retirement Planner Calculator
Retirement planning encompasses the plans and actions that individuals take to prepare a smooth transition from a life based mainly around working to a life based mainly around not working. Formal process of setting aside funds on a mathematical basis to provide deferred income benefits is termed as retirement plan
Table of Contents:
The process of planning for retirement, specifically in terms of making financial plans. Most often, retirement planning involves depositing money into a retirement account, and purposefully saving money for the future.
Example:
Calculate the retirement plan for the given details:
How much you have?: 500000
How many years do you have until you retire?: 5
Annual Income when you Retire: 30000
Passive Annual Income in Retirement: 5000
(Ex: Pension, Rents)
Solution:
Income needed in Retirement: 34778.22
Additional Income needed in Retirement: 29778.22
Additional principal Needed NOW: 174293.43
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