Plan Your Golden Years after Retiring with a Retirement Planner

What is a Retirement Planner?

Retirement Planners are extremely useful to understand your financial goals in the long run. Basically, they are used to figure out your post-retirement goals that assess the amount of money required to sustain the regular flow of life.

A retirement planning calculator keeps track of your accumulated financial assets along with pensions, home equity, social security, part time work, etc as well as ascertains the future projections of the investment growth. Good retirement planning is essential for maintaining steady retirement income.

Why do you need a Retirement Planner?

Since most people are busy in their lives and work, it is difficult to multi-task and also plan for your future. This is when a retirement planning calculator is used. It helps you to achieve long term financial goals through periodic small investments in MF schemes.

How to plan your retirement using Retirement Planner

1. Decide the age for retirement.
2. Decide the annual income you'll need for your retirement years.
3. Add up the current market value of all your savings and investments.
4. Determine a realistic annualized real rate of return (net of inflation) on your investments.
5. If you have a company pension plan, obtain an estimate of its value from your plan provider. 
6. Estimate the value of your social security benefits. 

Steps to use Retirement Planner

It is an extremely simple process and requires you to fill in the form, providing your basic details. Please read below steps to use the DSP BlackRock Retirement Calculator.

• Enter your present age.
•  Now enter your monthly expenses.
• Now enter number of years left for your retirement.
• Annual inflation rate by which you expect your monthly expenses to increase.This  needs to be entered in percentage form.
•  Your expected life expectancy, in years.
•  Annual return you expect to earn on your retirement corpus pre-retirement. Please  write in terms of a percentage.
• Annual return you expect to earn on you retirement corpus post-retirement. Please  write in percentage form.

This retirement planning calculator helps you work towards your client's retirement corpus and tells you the amount your client should save today to achieve the desired savings corpus at the time of retirement.