I’ve used many retirement calculators. More than 80 at last count. I relied on these tools to plan my own retirement trajectory, culminating in early retirement at age 50. Then I started a blog and began reviewing retirement calculators. Over time, these posts have become the most popular on my site. I’ve recently updated my best retirement calculators list — the most comprehensive survey of retirement calculators available.
Despite their shortcomings, retirement calculators are essential tools in preparing to leave a career. Nobody, not even a highly compensated financial advisor, can foretell the future. Projections from a retirement calculator are the best we’ve got. Just remember, a good retirement calculator is a set of binoculars, not an autopilot. It will give you some visibility into the future, but you still have to drive yourself there….