I found the calculator on financial aging to be an interesting way of thinking about aging. The factors considered by the calculator were far fewer than the aging calculator we did an activity with a few weeks ago. Granted I do understand the difference between guessing how long you're actually going to be alive versus how much money you are going to have. In my opinion, it seems that predicting lifespan or retirement savings are both hard to do based upon how much one does not know looking into the future.
There were a few different things I tried while playing around with the calculator such as salary, slight changes in age, marriage status and the time I would like to retire. The percentage that I needed to save did not seem to vary greatly by more than 1% with any of the varying answers. One thing that would be interesting to add into consideration when creating a calculator like this is the individual's lifestyle. Is this person a saver or a spender? This ties in well to what we talked about in class today with how lifestyle can influence the longevity of retirement savings.
Overall I found this to be an interesting calculator but I am unsure if it is as simple as it sounds to save the suggested amount.
No comments:
Post a Comment