Is there a calculator for this? (Retirement)

[Frügal]

I am wondering if there is a robust calculator out there. I am not in the position currently that I will be when I retire, nor even five years from now. I receive 3% annual raise + whatever the additional amount I receive for promotions.

I want to be able to calculate my retirement balance at 5, 10, 15, etc. years, based off of 3% annual raise + hourly raises. How can I do this?

[Bob B.]

As far as I know there is nothing as robust as you are looking for on the internet. At least not that I have found for setting lots of what if scenarios, and raises, and periods when you may have more to invest, like when kids move out.

I've developed my own sheet in excel. Do you have access to excel? You should be able to set up exactly what you need. If you are not savvy with excel, there are lots of question/answer sites. Just search for them.

[Frügal]

As far as I know there is nothing as robust as you are looking for on the internet. At least not that I have found for setting lots of what if scenarios, and raises, and periods when you may have more to invest, like when kids move out.

I've developed my own sheet in excel. Do you have access to excel? You should be able to set up exactly what you need. If you are not savvy with excel, there are lots of question/answer sites. Just search for them.

I use Google Drive (formerly Google Docs) for all my budgets and pretty much anything else I need to keep track of. But I never have to use any equations more intricate than addition and subtraction. Ha.

[JustBill]

I am wondering if there is a robust calculator out there. I am not in the position currently that I will be when I retire, nor even five years from now. I receive 3% annual raise + whatever the additional amount I receive for promotions.

I want to be able to calculate my retirement balance at 5, 10, 15, etc. years, based off of 3% annual raise + hourly raises. How can I do this?

Check out firecalc.com , I believe this will address your needs, and more.

[kork13]

I was thinking the same thing, FireCalc.com is probably one of the most comprehensive retirement calculators I've seen. Not terribly clear in the layout and finding all of the possible inputs, but I think they do have a function for considering pay raises over time.

[Anton martin]

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I am wondering if there is a robust calculator out there. I am not in the position currently that I will be when I retire, nor even five years from now. I receive 3% annual raise + whatever the additional amount I receive for promotions.

I want to be able to calculate my retirement balance at 5, 10, 15, etc. years, based off of 3% annual raise + hourly raises. How can I do this?

You can take help from Certified Financial Advisor, as they can calculate your retirement balance in better way and help you in more ways.
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[humandraydel]

Be careful doing this. The 3% raise is really an illusion as it usually only covers the inflation rate. It's best (and easiest) to ignore the raises and use inflation adjusted returns and compare to your cost of living in today's dollars. The promotions are difficult to account for because they are far from guaranteed (unless they aren't? a union job maybe?)

[DaveInPgh]

Just like your first reply, I use an Excel spreadsheet to calculate my projected 401k balances. It provides me with an estimated balance twice a month (payroll contribution) for the next 10 years. When I created it, I used what I felt was a conservative 2% annual pay raise. Unfortunately, due to the economical climate my Fortune 500 employer has been pretty stingy for 4 years now. 2% was my best raise in that 4 year period.

[ccole]

I'm not sure if I got it right. I did some researched to be able to help. I don't know what to calculate so I search for an online calculator.

Please check these sites.

http://www.bloomberg.com/personal-finance/calculators/retirement/

http://money.msn.com/retirement/retirement-calculator.aspx

Hope it answers your needs..

[TheCorporation]

Is your annual 3% raise etched in stone? I wouldn't necessarily count on that raise for forever. There are too many uncertain things in business.