Last time I talked about some of the problems with retirement calculators. These calculators are designed to help retirees plan for their future, based on their assets, saving, income and lifestyle. Based on these calculations, retirees are told how many financial assets they'll need to retire, and when they'll be able to do so. Unfortunately, these calculators also often give biased advice, distorted by projected retirement income needs, investment return averages and other variables that don't reflect reality for the vast majority of their users.
David A. Pace, CFA
Note: These comments and articles are for informational purposes only. Nothing in these articles are meant to provide specific investment advice and are not a substitute for professional advice from a qualified adviser. Since every investor's investment and personal circumstances are unique, he or she should always enlist the help of a competent and trustworthy professional in addressing their financial needs.