Category | Price | Seller | Device |
---|---|---|---|
Finance | Free | vvv & assoc pty ltd | iPhone, iPad, iPod |
The concept is simple: you need to save enough money in order to live comfortably after you retire. So the question is, how much is enough?
Unfortunately there is no simple answer to this question. Interest and inflation rates are changing, your income might change as well and it all will affect the end result. So, it is a good idea to check your situation regularly to see if you are on track with your savings and make the adjustments as needed.
You can view different scenarios and see how your decisions affect your retirement savings and make a change before it is too late.
Nice easy app to calculate how long your retirement savings will last with any surplus.
Nice and simple to use. Graph and numbers look correct for different inputs. The paragraph at the bottom does not match the graph or the chart. It just references your balance at retirement and repeats the same number.
I really like that I can project many retirement outcomes from various savings strategies. I have a much stronger sense of what savings plans make sense and which ones won’t. What blew my mind is seeing how a good chunk of money at the start of life can equal a fortune if invested (S&P) and allowed to grow untouched for a long long time. I think many people have 2 (or more) retirement savings plans going and while this app doesn’t address merging those separate plans into one picture, you certainly can create that by running muktiple scenarios. (ie. Roth IRA savings plan to retire at 60 + brokerage savings plan which you might call upon for early retirement at say 50 + 401k perhaps also 60 + social security at maybe ~65 (if you want to bank on that. Combine your strategies onto your own notepad and you can see what your estimated retirement income will look like in phases through the golden years. Thanks for making this app!!
This app is far to simple to be effective. I suppose if you want a general ballpark it might serve 1 time. A retirement calculator should allow for income, social security, changing expenses since we tend to spend less as we get older. It doesn’t allow for special events like selling a home or a vacation home or inheritance if you are so lucky. Not worth it!
Sometimes the app will crash but easy to use. I can quickly know what I need to be saving.
Need to be able to save the data from last use. Only app that allows you to enter % returns for pre and post retirement. Wish you could enter separate savings for tax deferred and tax free for accurate calculations.