Share  |  Print
Money Minute
Quick Tips
Retirement Calculators
Money Minute
Retirement calculators can be a helpful starting point when figuring out how much you'll need for retirement, but not all calculators are created equal.

How much money do you need to retire? To help answer this question, there are many online calculators out there on the web. However, they’re not all created equal. Here are some considerations to keep in mind:

  • First, each retirement calculator has built in assumptions. Make sure you’re familiar with them and how they might be different from one calculator to the next. Pay attention to how they factor in inflation, wage increases, and potential investment returns. If you can, make adjustments that more closely match your personal situation.
  • Second, review your monthly expenses and use that information to project what income you’ll continue to need in retirement. Remember some current expenses may change. You might have paid off your mortgage, or other debt, by the time you retire — or you may spend more on healthcare.
  • Finally, revisit your assumptions and calculations periodically to adjust for changes in your life.

Planning is important. And if you need professional help, consider a licensed financial advisor.

At the end of the day, before you can reach your retirement goal, you have to know which direction to go.

The information on this page is provided for educational purposes only and is not tax, legal, financial planning or investment advice. Neither the information nor any opinion expressed in this section constitutes an offer to buy or sell any securities or advisory products. The information provided is general and is not information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular security. You should not regard this information as a substitute for the exercise of your own judgment. Investing involves risk.

Past performance does not guarantee future results. © Ariel Investments, LLC. This website and all of its content is for informational and educational purposes only and should not be considered to be investment advice or a recommendation to buy or sell any particular security. The mutual funds offered by Ariel Investment Trust are distributed by Ariel Distributors, LLC, a wholly-owned subsidiary of Ariel Investments, LLC. Use of this website is subject to our Terms & Conditions. The Ariel mutual funds referred to in this site may be offered only to persons in the United States. This web site should not be considered a solicitation or offering of any investment products, funds or services to ineligible investors, investors for whom such products, funds or services are not suitable, or investors outside the United States.

Check the background of this firm on FINRA's BrokerCheck
Ariel Distributors, LLC is a member of the Securities Investor Protection Corporation