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Here are 3 web sites that have retirement calculators. I've tried a lot of calculators and have good idea how much money I will need. However, the third one below based on Bruce Cohen's The Pension Puzzle tells me I need to save a lot more than any other calculator I've tried. I'm very interested to hear if others get the similiar results. The Retirement Advisor calculators are my favorite.


http://www.hrsdc.gc.ca/eng/isp/common/cricinfo.shtml

https://www.retirementadvisor.ca/retadv/apps/tools/tools.jsp

http://www.fiscalagents.com/toolbox/index.shtml#tb2
Tried the third calculator and got incorrect results. Tried retiring at age 80 with 5 years retirement at $60,000.00 annually and the calculator showed I needed almost $988,000 in savings.
 

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Do people want a better retirement calculator?

I've been spending some time reading up on retirement calculators. The majority of them use linear projection or monte carlo simulation(which is much better but is still very limited in the map it creates for the full range of retirement planning outcomes. I see multiple ways to improve them (and I'm a software dev so I can). Don't know if there's actually a need though. What do people think?
 

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Most calculators/pgms avoid or badly approximate income tax. Tax levels go up and down like mad as various forms of income go into and uot of play. It is a non-trivial problem BTW.
 

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Steve41's point is valid - a lot of calculators seem to have simple income tax assumptions, which are okay for seeing trends, but not very accurate on an individual level. I'm still looking for something that takes a lot of variables into play and lets me adjust them to see how it impacts everything: taxes, cash flow, net worth, etc...

It seems like the US has better options/tools for this.
 

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Steve41's point is valid - a lot of calculators seem to have simple income tax assumptions, which are okay for seeing trends, but not very accurate on an individual level. I'm still looking for something that takes a lot of variables into play and lets me adjust them to see how it impacts everything: taxes, cash flow, net worth, etc...

It seems like the US has better options/tools for this.
This one seems to have lots of options so it might be more to your liking.
https://www.taxtips.ca/calculators/canadian-tax/canadian-tax-calculator.htm

It won't give you cash flow or net worth etc. thought.


Cheers
 
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