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Computerized Investing > June 11, 2011

Financial Calculators

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by CI Staff

When it comes to making sound financial decisions, it helps to know your projected cash outflows, your future net worth and the answers to common financial questions such as how much will be needed for retirement and how inflation impacts retirement spending needs. Fortunately, a website is available that helps you make numerous personal financial calculations.

Financial Calculators, a website sponsored by HelpMeFinancial.com, provides financial calculators for a variety of situations, with categories such as automobile, cash flow, college, credit card, home and mortgage, insurance, investment, paycheck, qualified plans, retirement, savings and taxes. Each category provides several calculators; we will highlight some of the most useful ones.

In the cash flow section, several valuable calculators are provided. The “How much am I spending?” calculator allows you to quickly sum up your expenses on a monthly or annual basis. “How long will my money last?” allows users to see when their savings will run out, given systematic withdrawals. There are also calculators in this section that find your current and projected cash flow and current and projected net worth based on some simple inputs.

The investment section helps you calculate the difference in returns between taxable and tax-free investments based on your income tax bracket. It will also help you establish your risk tolerance based on a questionnaire regarding your attitudes toward risk. Furthermore, users are able to ascertain the effect of fees on mutual funds.

Retirement always comes with a number of new questions. Financial Calculators will provide you with an idea of how your expenses will change upon retirement. Furthermore, you can find the amount of savings that will provide you with a comfortable retirement. This calculator is particularly useful. As you change inputs such as your current age and income, expected retirement age, investment returns, Social Security benefits and expected inflation, the changes in the output give you an idea of how various situations can affect the amount you will need to retire comfortably. In addition, the retirement section also shows you the amount of income your 401(k) will provide.

Finally, the savings section offers calculators that generate your effective annual yield and rate of return. In addition, it will provide you with a general idea of how long it takes for savings to reach a certain level and the amount of money that should be put away to meet goals at a certain rate of return.

Overall, Financial Calculators provides an abundance of informative calculators that help with common personal finance questions. The site is offered free of charge, and no registration is needed.

www.fincalc.com


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