Friday, April 30, 2010

The trouble with retirement calculators

The number one question we get here at the Family Investment Center is this: "How much do I need to retire comfortably?"

Of course, our crystal ball is in the shop, so it's difficult to answer. Make that impossible. No one knows - and it depends on many variables.

So, some folks search for retirement calculators and rely on those for calculations. This is limited, of course, and really doesn't help in the long run because often, these caculators are far from accurate.

We ran across a good article by Mark Miller on that explains how the calculators work, what the shortcomings are and how to find better alternatives.

Of course, a solid plan with a fee-only financial planner, such as the Family Investment Center, is the best way to go.

Read on for Mark's thoughts:

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