Retirement Budget Calculator

Hi tiffnkeat So good to see you here after so long. You can count me as one of those who is wanting to make lots of money so that I can live comfortably when I retire. Anyway, I don't trust any predictions cause time changes everything. No, I have not calculated how much I would need. All I know is that I want lots and lots of money. I'll probably invest some of it to churn more income, I mean those investments that guarantee more income.

Hi tiffnkeat: Thought I know I am too young to think about retirement and there's a big road for me to walk (I hope so) I have made some calculations and at this moment, I think I would be happy if I could earn $1000 a month. That's enough for a single person in my country and it's perfect for paying the bills, your food, having fun, traveling and even saving a part for any purpose. ALVARO

A better way is to ask your grandma (if she is still alive) or other relatives who have retired. They will tell you how much they need, and how much they pay for medical, food, entertainment and others. I think many retirees with children do not have to save up for overseas holiday. Their children will pay for it.

Retirement is something or shall I say the only thing I have done right. lol I have planned for my retirement, though it is years from now I have secured enough IRA, where I know it will at least be enough for my basic needs. I use to be a risky type person and lost a great deal, (thousands) in the crashing of the stock market. However, I caught it in time to not have lost it all. I have IRA's were I am no longer risking any principal. Since the tax man will be watching I won't say the figures here but I know I will be okay in my retirement years. It is getting to the retirement that I am having trouble with. lol

Nope, given that I am still pretty young, I haven't really thought that much about it. But you are right that it is a good idea to do that, especially if you don't have so many years to go before you actually retire. But I wonder how reliable those calculators are if you use them to predict a long time ahead?

There's no retirement budget at all. It's the same if we are all millionaires. That's how agents, experts, earn our money. IN actual fact, we are sharing our hard earned money with them, over a few words and assurance. Everything is getting more costly than before and how are those experts going to predict correctly, the price of food in 20 years time? IF they are that good, they would be better off trading commodities, instead of conning us our money.