Have you tried to use a “web calculator” to plan your retirement?
There are literally THOUSANDS of these tools littering the internet. How do you know if they are any good? The fact is: YOU DON’T KNOW.
So then one would ask, “Should I use a FREE tool that I have no idea if it’s any good to plan my REAL LIFE and my very real RETIREMENT?”
Well, when you put it like that, the answer is probably no.
I’ve designed our WebCalcs software to do many basic calculations for people. We’ve even deployed these on the websites of huge Fortune 500 companies. But listen I invented the idea and even I will tell you these web calculators were never designed to replace something as accurate and detailed as the Torrid Technologies RetirementView software.
I’ve analyzed hundreds of web calculators over many years, here is a list of just a FEW of the MASSIVE FLAWS and PROBLEMS that you should consider when using free web calculators especially retirement calculators:
– most free retirement calculators don’t account for your spouse. What about their income, savings, retirement plans, and social security? You need to put your info all into one place.
– most web calculators don’t properly account for taxes. Since your IRAs and 401ks will have withdrawals taxed like ordinary income in retirement, then TAXES become an important part of the plan. If you don’t account for them, OUCH you are going to be broke!
– most of them don’t calculate Required Minimum Distributions as part of the retirement calculator. These RMDs are required by the IRS and force you to pay taxes. Now in some cases you will meet your RMD requirements automatically in your retirement plan. But how do you know for sure? You don’t. A tool like RetirementView builds the RMD calculations right into the software.
– most calculators online are on public websites so who is tracking and storing the info that you put into the software? BIG BROTHER probably. If security and privacy are important to you, then consider using 
the RetirementView desktop tool
– most internet retirement calculators don’t let you model one time events that can seriously IMPROVE your retirement. Things like your life insurance if you were to die, part-time job income, rental property income, a retirement package, selling a business, selling real estate or rental properties, annuity payments or lifetime annuity income. Only a package as detailed as RetirementView can help you with all of these things and more.
– most online retirement tools don’t let you model your “expenses” in retirement except for “enter a goal” and “enter inflation”. That can be baby thinking and planning. You’ve got to get more detailed especially the closer you get to retirement. Without a detailed budget or without modeling your expenses in major periods, you are betting your future on clouds, vapor, and smoke. Who wants to risk it?
I could go on and on about how many times I have seen major flaws in online retirement calculators and retirement planners on the internet. If you are SERIOUS about not running out of money in retirement, then you should download the free trial of our Retirement View software.
P.S. I meant to tell you that our St. Patrick’s Day special has been extended through March 30th! If you want to use a “real” calculator to plan your retirement, and not a junky fake one found on a website, then click here to get the St. Patrick’s Day special
through Monday, March 30th, Midnight.
Personal Edition SPECIAL: http://www.MakeRetirementSimple.com/personal
Couples Edition SPECIAL : http://www.MakeRetirementSimple.com/couples
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