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 |
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|---|---|---|
| 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 |
|---|
| Date of Birth (m/d/yyyy) | ||
|---|---|---|
| Life expectancy | ||
| Retirement date (m/d/yyyy) |
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 |
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| I will have kid(s) going to college |
|---|
| I want to maintain an emergency fund |
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| 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. |
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|---|---|---|---|
| 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
