Getting prepared for the future is what smart people do. Your post-retirement life can be tougher if you are not planning today when you earning. This calculator will show you the easiest way you can save today to meet your post-retirement living costs with graphical interface, with the ease of use of our retirement nestegg calculator you will plan a safer future for yourself.
Your age as on the date.
Age of retirement
This is the age you are supposed to retire from the job. Assuming you don’t pay when and after you retire, your age of retirement minus 1 is the last time you will contribute to the plan. This calculator considers that you make all those contributions at the end of every year.
Gross annual income
Total family income. In case you are married, this income will also include what your spouse earns.
Current retirement savings
It’s the amount of your current savings that can be contributed to the plan including RRSPs, pension fund receivables, annuities and any other post-retirement savings available.
Rate of return before retirement
The yearly expected rate of return from your chosen investment plan up to the retirement.
Rate of return during retirement
The yearly expected rate of return from your chosen investment plan from the time you retire. If you wish to withdraw your investment just after your retirement, this field should be left empty.
Expected income increase
The rate by which you are expecting your household income to increase.
Years of retirement income
Number of years the retirement earnings to be utilized. This will depend on your life expectancy.
Income required at retirement
This is the percentage income of last working year’s you assume to be required during retirement. So, this amount is calculated as 40% to 160% of the income earned during the year before your retirement based on your living expenditure.
Expected rate of inflation
The anticipated annual average rate of inflation over long-term.