What’s Your Number? Online Retirement Calculators

September 19, 2011

By This email address is being protected from spambots. You need JavaScript enabled to view it., America Saves Communications Manager

Nest EggWe all know that we need to save up for retirement. The question becomes how much do I need to save? One of our Facebook page fans recently suggested that one should save 15% of gross income savings for retirement but was unsure if that was for one person or both in a joint household. As for the 15% part, I found this great article that details the difference between saving 10% and 15%. As for who needs to save that percentage, I’m not an expert but I’m pretty sure both you and your significant other will need to save for retirement.

Luckily there are many online calculators to help us figure out how much money you (or each of you) will need to save.  Each calculator works a bit different but to make sure you are saving enough you can run the numbers twice. Once with just your income and how much you are saving; and once with your joint income and how much each of you are saving. Learn more about savings for retirement on America Saves, and then calculate your number.

Here are some great resources to help you find your number:

Online Calculators & Resources

  • Determine how much money you need to save to live comfortably in retirement with the easy-to-use Ballpark E$timate Worksheet.
  • Calculate your estimated social security benefits using this online tool from the Social Security Administration.
  • Retire Online – Social Security’s new online retirement application can be completed in as little as 15 minutes from the comfort of your home or office - It’s so easy!
  • Utilize AARP's online calculator tools to determine your retirement shortfall, what type of IRA is best for you, and how much of your retirement will come from your 401(K).
  • Assess your retirement readiness by taking this simple interactive questionnaire to determine how prepared you are for retirement.

Advice from Experts

Retirement Resources for Military Families

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    Having emergency savings may be the most important way to stay afloat financially http://ow.ly/r6i1n

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