Retirement calculator

[Brendan Burgess]

Does anyone know of a retirement calculator? Something which would allow you input your current age, investments, salary and expenditure to see how much you will have on retirement?

I have found a few geared towards American tax rates and social welfare. But are there any such Irish ones?

Thanks

Brendan

 

[Guest]

While most or all may be geared towards other countries (and tax regimes etc.) perhaps some of the links returned by this Google search contain some information of interest?



Here's the same search restricted to Ireland in case that's of more relevance:

 

[Brendan Burgess]

Thanks

I had done a Google search but hadn't picked up the IIF's one, which is very basic. I've done my own Excel spreadsheet which is more useful. But I am sure someone else, must have done a more comprehensive and better laid out one. How do financial advisors do a financial health check without one?

Brendan

 

[rainyday]

How do financial advisors do a financial health check without one?

They just pretend to key in a few numbers before coming up with the magic answer 'Oh look - you need to buy this pension from me today'.

 

[Alan Moore]

How do financial advisors do a financial health check without one?

They just pretend to key in a few numbers before coming up with the magic answer 'Oh look - you need to buy this pension from me today'.

1. Most insurance companies will do calculations for financial advisors or indeed the policyholders directly.
2. There are a number of packages available to the broker community.
3. Excel is also a big help.

So, no it's not a matter of plucking figures from the air as suggested.

 

[Macker]

Quote
____________________
3. Excel is also a big help

How ??

 

[Alan Moore]

Excel......

How ??

Excel is effectively a calculator. If you understand the mechanics of the pension arrangement and the mechanics of excel it is possible to build a model to calculate estimated future values etc.

 

[casual teacher]

pension

As a casual teacher picking up hours as they become available in different schools. I am fully qualified in the areas where there is supposed to be shortage i.e. science and mathematics but find permanent jobs elusive to say the least.

I am wondering how can I make provision for retirement - I am 30 years of age and am told by my teaching colleagues that it could be at least 7 years before I can hope to get a permanent pensionable position within the education sector.

I have used the pension calculator and it indicates that if I save 200 euro a month I will get a pension of around 61 euro a week in 30 years time.

These numbers and listening to uncles, aunts, parents etc who seem to have funded for pensions but the rules changed (even in state sector) and after 30 years have to wait further for their pension and others did not get anything like what they expected due to the recent equity problems. I am still renting accommodation and hope to go for further study

So what should I do and what are my options?