1. This Slide Show is brought to You by http:// retirement.personalloandebt.info

2. Planning Ahead with a Retirement Income Calculator Free retirement calculators abound on various financial sites such as banking and investing or money magazines on the internet. These retirement income calculators are a wonderful tool for individuals or couples to use in determining whether they are saving enough money in order to live comfortably in the future when they retire.

3. Social security is not a dependable option for individuals or couples Social security is not a dependable option for individuals or couples to rely on in retirement as the system is faltering while the age of individuals is rising each year as medicine gets better at curing ailments. In addition, the amount of money gained from social security is not much better than a teenager working his first job, allowing individuals to barely scrape by if they do not have a high mortgage and most other bills are kept at a minimum.

4. This is not the way that most individuals want to spend their retirement years This is not the way that most individuals want to spend their retirement years, after working so hard their whole lives. To prevent this eventuality, individuals can use a retirement income calculator to determine if their savings plan is aggressive enough to meet their retirement income goals.

5. Savings Plans Retirement income calculators take into account the amount of money the individual or couple is currently making, the percent raise they get each year, the percent of inflation, and the age the person or couple plans on retiring from their job. In addition to this information, the amount of money that goes into the 401K for that person is also taken into account.

6. That way the calculator can determine That way the calculator can determine what the total amount of the 401K will be by the age of retirement for that person when added to the amount currently saved in the plan. Other types of savings plans are also taken into consideration with retirement income calculators such as IRAs and CDs that the individual or couple may be contributing to on a regular basis.

7. Once the individual or couple's current rate of savings is taken into consideration Once the individual or couple's current rate of savings is taken into consideration, the retirement income calculator also asks what the goal is for the income after retirement. The couple should very carefully consider this question, taking into account what the status of mortgages and car payments will be by that time, whether any children will still be in college, and any other large payment considerations that might still be in play by retirement age.

8. When all of these factors are entered in The couple should also enter a longer life expectancy than is truly expected since it is better to have more saved than less and be put in a bind during the later years of life. When all of these factors are entered in, the retirement income calculator gives the results, showing whether the individual or couple is on the right track in retirement savings.

9. This Slide Show is brought to You by http:// retirement.personalloandebt.info