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Pension calculator: 5 Retirement Planner Tools

The AARP Retirement Calculator was designed to assist domestic partners, single people and married couples to plan for their retirement. Users are required to provide information such as current salary, age, household status, social security, retirement savings and lifestyle. The planner then analyses the information and determines whether they are on track or not, and offers workable options. For example, if it calculates a low pension, it may suggest you adjust your lifestyle to increase your savings. RetirePlan RetirePlan is an app designed for iPad users. It answers questions about retirement such as the right retirement age and the amount of money you should save each year towards retirement, among others. Just like other retirement planning tools, you are required to give your personal details including your desired yearly or monthly retirement income to get a quote. The answers are saved on a spreadsheet and can be emailed. Vanguard Retirement Nest Egg Calculator Vanguard Retirement Nest Egg Calculator is ideal for people who invest in bonds, cash and stocks. It determines whether your investment portfolio can survive the number of years you specify. Unlike other retirement plans where you enter personal details, Vanguard Retirement Nest Egg requires six values only. These include: your percentage portfolio investment in bonds, stocks and cash, the period your portfolio will last, your current portfolio balance, and your annual expenses. The program then performs a simulation that relies on historical data to come up with expected yearly portfolio balances. Military Retirement Planner Tool As the name implies, this retirement planner tool is designed for military personnel. Users should enter their personal information, including retirement date, rank, length of service, disability pay, medical and life insurance, to determine their expected retirement pay. The app offers numerous retirement scenarios to help military personnel determine their best options. The iMaximize Social Security Retirement Planner Tool As the name suggests, iMaximise Social Security Retirement Planner Tool was designed to assist people who are about to retire in determining the ideal strategy to maximize their social security benefits. This application relies on your personal information such as age, life expectancy, personal insurance, current filing status and marital status to offer results that are in line with your retirement needs.