Online Retirement Calculator 6

Welcome to the Millionin10 retirement planner. This online version performs many of the excel calculator I released some time ago. I’ve also added some extra features such as adding a mortgage, emergency fund and college expenses to the calculator. All the information you enter in this calculator IS NOT stored online. I WILL NOT ASK YOU FOR YOUR EMAIL ADDRESS WHEN YOU CLICK CALCULATE. I will provide you the answers on this page. If you still don’t trust it and want to hide your date of birth, don’t deviate too much: retirement age and 401(k) withdrawal age are based on it. You can calculate as often as you like changing values where you like. If you close the browser (or tab) all information will be gone.

If you’re not sure what to enter, feel free to click on one of two demos I’ve added. The first demo represents a 10 year plan to early retirement that works and the second demo is of a plan that falls short.

If you feel like your ready to start looking at your own plan simply change the values already present in the calculator or start from scratch. When you click (Re)Calculate below all the data the calculator will present you with its observations about your plan, along with a graph presenting year to year information about your plan. Simply hover over the graph and you’ll see the exact numbers.

Plan information
Required information about the entire plan
Date of Birth (m/d/yyyy)
Life expectancy

Retirement date (m/d/yyyy)
Start plan (m/d/yyyy)
Annual living Expenses ($)
Inflation (%)
Taxes (after Retire) (%)
Add my spouse to this plan

The following questions are optional and may or may not apply to your situation. If they do apply, answering them will get you more accurate results. It’s easy to ignore your kids may go to college but that doesn’t make the cost any less.

Capture my salary and 401(k) info 
I have a mortgage, please include it
I will have kid(s) going to college
I want to maintain an emergency fund
I want include social security

The next information is crucial to the calculation. Your plan has to start somewhere and chances are you already have some balances in your accounts. If you entered your salary and 401(k) information that information will be used for your retirement accounts. If not, enter your own retirement contributions.
Returns on your accounts are what will make or break your plan but are in the end purely speculative. Stock and retirement accounts have returns varying 5% to 12% depending on who you ask. With my investment method I’ve been able to achieve a return of about 8% over the last 17 years. Then
again past market behavior is not an indicator of future behavior.

Current state of affairs
Enter the information about your current accounts.
Savings Stock accounts Other Retirement Accounts
Starting balance
Monthly Contribution
Years of Contribution
Expected returns

Alright, now that you have entered all the relevant information you can click on (Re)calculate below. After the first calculation you can go back and change values and recalculate over and over again.

There you have it. I hope this calculator was useful to you. I’d love to hear feedback on features (or bugs) and functionality.

Good luck reaching your financial goals

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About Maarten van Lier

Maarten came to this country with a suitcase and a diploma. He created a financial plan and goal to become a millionaire in 10 years. He successfully turned his financial goals into reality, wrote a book about it and now blogs actively in hope of inspiring other to do the same.

6 thoughts on “Online Retirement Calculator

  • Don Likeum

    Hey Maartin,

    Hope all is well 🙂 we miss you. In the calculator, could you add “(m/d/yyyy)” to the label in the “Start Plan” button in the first section? Maybe it’s just me having a rough day but it wasn’t evident that I needed to type in a date. Or maybe just default to today’s date?

    Also, I know the hope of collection social security in retirement years is somewhat risky but could that be added to the calculator somehow? I did it by just backing off the “Living expenses” amount by an amount that I estimate I’d already get from that plan.

    Have a great day!


    • Maarten van Lier Post author

      Per request I’ve added social security to the mix. I’ve left if optional as not everyone believes it might still be around. You can now enter your expected income as stated by Social Security Retirement Estimator. They will tell you “exactly” how much you will get based on what they know about you today. They will provide you with 3 numbers (for ages 62, 67 and 70). The retirement calculator will adjust the amount according to whatever inflation you indicated (this may be different from what the government uses). If you don’t want to go the the .gov site you can enter the national average (or something around it) of men: $1,332.35/women $1,165.04 (income inequality??).

      Social Security if present will certainly give a boost you your plans.

  • Lionell

    I really liked the calculator. In fact it is the graph makes it the best I have found so far. I just have a few suggestions. 1)You need to specify the ‘living expenses’ are for the year. 2) please clarify if the tool knows that 18k is the max for 401k contributions. If ones salary increases to a amount that has his or her contribution percentage exceed 18k the calculator will give false results. 3) please add an option to increase expenses after a certain age. Increasing medical expenses are very often overlooked in retirement calculators. It would be nice to have the user be aware their living expenses can increase by 10-50 percent with a few prescriptions.

    • Maarten van Lier Post author

      Excellent. Thank you for taking the time your feedback, currently expenses are only impacted by college expenses and a paid off mortgage. I can add some miscellaneous “anticipated” expense increases as input (to test your plan’s limits). I added the limit of 18K in my spreadsheet but not in this calculator. I should add it back in. The 18K would only apply to 2016 as we don’t know what it will be for 2017 and beyond. Since I will also have to account for the max of 24K if you’re over 50 it may take a day of two before I have that working. Good stuff, looks like I’ll working on it some more starting tomorrow.

    • Maarten van Lier Post author

      I have updated to reflect Annual Living expenses. They should not include mortgage payments as these are not inflation adjusted whereas all other expenses are. I’ve changed the 401k contribution to be capped at 18K (24K if you are over 50). If you contribution based on your salary exceeds the 18k it will simply stop contributing until January comes around again. I’ll need to think about the “other future expenses” You’ve mentioned medical expenses that could increase expenses but there may also be expense lowering event (last kid leaves home). For now I think I’ll need to capture that using a date and increase/decrease percentage (per event). Since everything is inflation adjusted I hesitate to capture it as a fixed dollar amount.
      Again thanks for the feedback and keep them coming.

      Also on the radar: college loan expenses and other additional loans.

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