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How can I input my current financial information into the retirement calculator?

Curious about Retirement calculator

How can I input my current financial information into the retirement calculator?

To use a retirement calculator, you will typically need to input the following information:

Age: Your current age is an important factor in calculating your retirement savings goals.

Retirement age: The age at which you plan to retire is an important factor in determining how much you need to save.

Current savings: The total amount of money you have saved for retirement so far, including any employersponsored retirement plans, individual retirement accounts (IRAs), and other investments.

Annual salary: Your current annual salary is an important factor in determining your retirement savings goals.

Annual contributions: The amount of money you plan to contribute each year to your retirement savings, including employer contributions.

Expected rate of return: This is the rate of return you expect to earn on your investments each year.

Inflation rate: This is the expected rate of inflation each year, which can have a significant impact on your retirement savings goals.

Life expectancy: This is your estimated life expectancy, which can help determine how long your retirement savings will need to last.

Once you have input this information into the retirement calculator, it will use various algorithms and assumptions to estimate your future retirement savings and income. Keep in mind that the accuracy of these estimates can vary based on the assumptions and information provided, so it's important to use the calculator as a general guide rather than a definitive answer.

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