Reality Retirement Calculator
Projecting income needed for retirement is a difficult task. It requires looking into the future for decades and matching anticipated needs with the resources you expect to have available. Most retirement calculators assume that current spending levels will increase each year due to inflation. Even with moderate inflation assumptions, the result is often a discouragingly unrealistic retirement plan.
In reality, retirement spending data show that most households naturally spend less as they age. The "reality retirement planning" model certainly isn't widely accepted at this point. Further, it is subject to criticism on several fronts - for example, understating the impact of rising healthcare costs on senior citizen spending. Still, the idea has intrinsic appeal and many people can point to anectodal experience with parents or seniors that supports the idea. Even if "reality retirement planning" is only partially on target, it could have important implications for anyone considering a reverse mortgage.
The Reality Retirement Calculator allows you to take this essential fact into account in preparing your retirement plan. The calculator is designed to project, based on information you provide, a realistic appraisal of retirement spending needs and the savings goal needed to meet these needs. The calculator also provides a comparison with the more traditional retirement planning approach.
If you would like to use the Reality Retirement Calculator on your website, please contact us.In addition to the Reality Retirement Calculator, you may to use this 401(k) Savings Calculator to explore how your retirement savings goals can be met under different scenarios.