Retirement Calculator

Cost: Free
System Requirements: Microsoft Excel® 2007 or later*
User Agreement: Read it Here
Creator: SpreadsheetShoppe.com
Retirement Calculator
File Size: 161 kb
File Type: xls
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Description: Figuring out how much you need to save for retirement can be a difficult task.  Because of the uncertainties that exist it's impossible to know exactly how much you'll need saved up in order to retire securely.  However, don't let those uncertainties deter you from the proper planning.  There are several things you can do to give you the best chances of success.  This calculator is designed to help you plan for retirement.  Download the spreadsheet (above) plug in your personal information and see what your estimated "required savings" are...based on your inputs.  Here's how it works, in 2 steps: 

Step 1

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Input the required information; as shown in the picture.  The calculator allows you to have different rates of return (on your retirement investments) pre- and post- retirement, as people generally have a more conservative portfolio during retirement.  Also, you can break up your future spending by breaking out large purchases that will not be reoccurring annually.   

Step 2

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Evaluate your results.  Based on your inputs this calculator will estimate your annual savings each year from the CY to retirement.  Want to see the impact of waiting 1 year to start saving?  Just modify your "current age".  Or, maybe you want to see the impact of inflation being just 1% higher (or lower) - it's impossible to know what's going to happen in the future, but you can use this calculator to evaluate how slight modifications will impact your required savings.

Other Useful Information

  • Use this retirement calculator to estimate how much your current retirement savings will be worth in the future.  To do this just input your age, current retirement savings, age at retirement, years in retirement, and the pre- and post- rates of return.  Leaving all other cells blank you can see the future value of your current savings.
  • Check your life expectancy.  After you enter your retirement age and years in retirement, your life expectancy will calculate.  Because how long you live has a significant impact on your required savings, you'll want to be sure you have a reasonable life expectancy.
  • Apply individual inflation rates to big purchases.  Maybe you'll have some large expenses that you don't expect to incur annually, input those in the Other Spending section.  Apply individual rates of inflation to each purchase.
  • Expand or collapse the inputs and/or the graph.  In the picture below, you can see that the graph has been collapsed, use the grouping buttons (highlighted by the red circles) to expand or collapse the information you don't need.
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* Note, utilizing the features of this excel template requires Microsoft Excel® 2007 or later.