Retirement Calculator — calculate retirement age
This calculator easily answers the question "Given the value of my current investments and assuming future monthly investments of "X", at what age will I reach my retirement goal?"
The user enters their "Current Age", the "Monthly Amount Invested",the "Annual Interest Rate (ROI)" (annualized Return on Investment one expects to earn) and "Amount Desired At Retirement".
The calculator quickly calculates the user's retirement age and creates an investment schedule plus a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
If you need a more advanced "Retirement Calculator" — one that calculates many more unknowns and one that calculates assuming retirement income and not a final lump sum then try the calculator located here: https:/financial-calculators.com/retirement-calculator
Use this calculator to calculate the compounding return over a particular period of time (with interactive charts).
If you use this calculator you can understand the Power of Compounding.
Suppose that if you want 10 lakh and current age is 30 years and you want to invest Rs 3000/ month.
Then in how much time you will get Rs 10 lakh
Monthly Investment = Rs 3000
Rate of Interest = 12%
Your Current Age = 30 years
If you calculate it you will get the following results
You will get Rs 10 lakh at the age of 42 years or after 12 years
Here you only have to invest = Rs 4, 44,000
And remaining = 5, 64,000 came as an interest
Here you can see the power of Compounding.