Today I found this very interesting Retirement Planner calculator. Best one I have ever seen. I found it at CNN Money Retirement Planner.
We are kind of planning on hubby retiring in three years He will be 59.
The thing that worries me the most is when Hubby retires we will have to cover a large medical insurance premium until we are old enough for medicare. We will still get the medical insurance through his company but I think it will be in the $600- $800 range per month....does this sound right? I estimate his pension will be about $1400. per month.
Retirement Planner
December 14th, 2011 at 07:24 pm
December 14th, 2011 at 08:52 pm 1323895947
December 15th, 2011 at 02:06 pm 1323957981
For retirement calculation purposes, a very easy ballpark figure is that you will need 33 x your annual estimated retirement spend in savings before you can retire. Your annual retirement spend would be what remains after deducting any pension, social security or other monthly payments. Meaning, if half of your spend is being funded by these vehicles, only the remaining half would be applied to the 33 x formula. We're there, so we're pulling the plug on job #2 in the spring (we pulled the plug on job #1 this last spring), and we can hardly wait.
December 15th, 2011 at 02:31 pm 1323959515
T. rowe Price has a well-regarded retirement calculator on their site.
December 18th, 2011 at 09:47 pm 1324244876
Jerry