Retirement and Savings Calculators: Plan Your Goals with Calc Pro

Planning for the future is much easier with real numbers. Calc Pro's Financial calculator includes worksheets for retirement, savings goals, inflation and compound interest, so you can see where you're headed and what it will take to get there.

In the iPhone and iPad app, the Retirement Savings, Savings Goal, Inflation and Time Value of Money worksheets are part of Pro Premium; Compound Interest is included free. Every worksheet is free in the web version.

Retirement Savings

Try it free in your browser: Retirement Calculator

Find out what your savings could grow to by retirement, and how much income they could then provide.

Field	What to enter
Current Savings	What you've saved so far
Annual Contribution	What you'll add each year
Years to Retirement	How long until you retire
Growth Rate	Expected yearly return before retirement
Years in Retirement	How long the money needs to last
Retirement Growth	Expected yearly return during retirement

Example: Retiring in 25 Years

You have $50,000 saved, add $10,000 a year, expect 7% growth, retire in 25 years, and want the money to last 25 years while growing at 4%:

• Balance at Retirement: $903,862.01
• Annual Income: $57,857.98 a year for 25 years
• Total Contributions: $300,000.00, your $50,000 plus $10,000 a year
• Total Earnings: $603,862.01

Growth, not contributions, does most of the work: two thirds of the final balance is investment growth.

Savings Goal

Try it free in your browser: Savings Goal Calculator

Work backwards from a target: how much do you need to save each month?

Example: A $60,000 down payment in 5 years

You already have $10,000 and expect 4.5% a year:

• Monthly Deposit Needed: $707.15
• Total Deposits: $42,429.06
• Interest Earned: $7,570.94

Inflation

Try it free in your browser: Inflation Calculator

Prices rise over time, so money saved today buys less tomorrow.

Example: What will $50,000 be worth in 20 years at 3% inflation?

• Future Cost: $90,305.56, what $50,000 of today's goods will cost in 20 years
• Future Purchasing Power: $27,683.79, what $50,000 held in cash will be worth in today's money
• Total Increase: 80.61%

Use this to sanity-check a retirement plan: $57,858 a year sounds comfortable today, but inflation eats into it every year.

Compound Interest

Try it free in your browser: Compound Interest Calculator

The Compound Interest worksheet connects four values: # of Periods, Interest Rate, Start Value and Final Value. Enter any three, select the one you want to find, and tap Calc.

Example: $10,000 at 5% a year for 10 years

• # of Periods: 10
• Interest Rate: 5
• Start Value: 10,000
• Final Value: $16,288.94

To compound monthly instead, use months for the periods and the monthly rate: 120 periods at 5 ÷ 12 = 0.4167%.

Time Value of Money

For loans, annuities and any "what if" involving regular payments, the TVM worksheet solves for any one of N, I/Y, PV, PMT and FV. See the Financial Calculator guide for examples.

Tips

1. Be conservative with growth rates. Plan with a lower rate than you hope for, and treat anything extra as a bonus.
2. Revisit your plan every year. Update your savings and contributions to see if you're on track.
3. Account for inflation. Compare the Annual Income from the retirement worksheet with the Inflation worksheet's purchasing power.
4. Start early. Try the retirement example with 30 years instead of 25 to see how much difference five extra years of growth make.

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