These investing calculators will show you how to grow your nest egg and how much income you’ll have in retirement
You don’t have to be a money nerd like me to appreciate a good investment calculator. It’s hard enough finding the right investments to match your long-term goals. You shouldn’t have to guess at where those investments will take you.
Growing your retirement savings to meet your goals means understanding how much risk you need to take for the needed return. A good financial calculator can help bring expectations back down to earth or reassure you that you’re on the right path.
I’ve created these five personal finance calculators to help you beat debt, save money and make your money work for you.
Retirement Savings Calculators for Gold in Your Golden Years
Living debt-free and saving money is great but it’s not going to get you very far unless you make your money work for you. You work hard enough, why not take it easy and let your money do the working? These investing calculators will make sure you’re on the right path.
Retirement Income Calculator – This retirement savings calculator will not only tell you how much your nest egg will be worth when you retire but the monthly income you can expect. Want more money? It will also help you find the monthly savings and return needed to beat your goals.
401k Calculator – The best investment you’ll ever make is in your employer-sponsored 401k plan, I guarantee it! How can I be so sure? The employer contributions to these plans are free money and an instant return on your investments. Find out how far your 401k contributions can go and what kind of income they’ll provide in retirement with this calculator.
Financial Calculators to Help You Beat Debt and Your Savings Goal
I was an equity analyst and investor long before I was a financial blogger so investing is always top of mind but it’s only a small part of your finances. There’s also how you manage your debt, saving and making more money. That’s why I’ve created these three financial calculators for sister-site PeerFinance101.com to help you meet all your financial goals.
Loan Payoff Calculator – It does no good earning 8% return on your investments if you’re paying out 14% on loans and other debt. That’s the average interest rate on most loans and it’s a huge burden on your finances. More than a dollar of every five earned by the average American goes to pay off debt. Use this debt calculator to see how much you can save by paying off your debt faster.
Credit Card Interest Calculator – Credit cards are the worst kind of debt. Sky-high rates and a payment that changes so you never know how much to budget. Too much credit card debt can destroy your credit score and Americans have a lot of it. Use this credit card payoff calculator as a wakeup call to how much interest you’re paying and how to get free of the plastic.
Savings Account Calculator – Two of every three Americans say they don’t have enough saved to cover a $500 emergency expense. That’s a bad financial scenario just waiting to happen. This savings calculator will help you save and how fast your savings will grow.
These investing calculators can be your first step into understanding your money and what it’s going to take to meet your goals. Use them regularly to make sure you’re on the right track and stay motivated in paying off debt, saving and investing your hard-earned money.
Each link above goes to an investment calculator and a step-by-step how to use it to meet your investing goals. I’ve also created videos on the YouTube channel to help guide you through each calculator. I’m always here to answer any questions about reaching your financial goals, investing, making more money and anything money-related.