Saving for retirement has become a hot topic over the last decade. Unlike previous generations, who had set pensions and very little involvement in creating and managing their retirement plans, people today are actively involved in managing their own retirement funding.
Unfortunately, many Americans have still not sufficiently planned for their retirement needs. 1/3 of Americans have saved less than $5,000 for their retirement, and 21% have no retirement savings whatsoever. Even for those that are saving, the amount saved may be insufficient to meet their retirement needs: the median retirement savings is only $50,000.
To help you prepare for their retirement, VisualCalc has created a suite of personal retirement planning calculators. One of these is VisualCalc’s Retirement Distribution Calculator. The Retirement Distribution Calculator helps you figure out how much to save for your retirement and how much you can withdraw each year if you want to make your savings last.
The calculator lets you enter an estimate of their retirement savings at the time of retirement, the number of years you project to require annual distributions of these savings, the inflation rate, and the rate of return on your retirement investments. The calculator then shows you how much you can withdraw each year. If this annual withdrawal amount is insufficient, users can adjust their projected retirement savings to see the amount required to your annual withdrawal needs.
