Here is another one of MoneyPoint Live Retirement Calculator Reviews. Retirement planning is easier when you have the right forecasts.
The Bloomberg retirement calculator is one of several retirement calculators you can use to help you determine your current financial status in relationship to your retirement goals and how much you will have to contribute each year in order to reach those retirement goals when you are ready to retire.
The Bloomberg™ retirement calculator isn’t as simple to use as other retirement calculators because it only requires you to input four specific items of personal information – current age, expected retirement age, current amount in retirement fund, and expected annual rate of return.
You can find and make use of the Bloomberg retirement calculator
In addition, the Bloomberg calculator can be a little tricky to use for those who are not well-versed in investment terminology. The fact is that the bloomberg calc gives you two options to determine your retirement outlook, but those who are unfamiliar with investment terminology may be confused on how to use these two options:
“Enter annual contribution to calculate fund balance at retirement” (this is followed by a box in which you are to enter the proposed dollar amount).
“Enter desired fund amount to calculate required annual contribution” (while there is no box after the wording, you are to use the same box as in the first option in order to use this second option).
What follows is information regarding the two different options and how you can use them to gain a better perspective on your retirement outlook. Use the first option when you are placing the same amount within your retirement fund each year (“annual contribution”) and are looking to determine how much money you will have in your retirement fund at the time you retire (“fund balance at retirement”).
Use the second option when you have a firm idea of how much you want to have in your retirement fund at the time you retire and want to determine how much money you will have to put into the retirement fund each year in order to reach that desired amount. Bloomberg’s retirement calculator will determine this by the information you input into the calculator.
Bloomberg’s retirement calculator reveals the information via two colored lines on a graph. To make sense of the graph, you need to know that your annual contributions appear as an orange line that is more linear, while your fund value will appear as a blue line that is more in the shape of a curve.
The Bloomberg retirement calculator is better suited for those people who have an intermediate understanding of their retirement planning. This is because of the limited information that the calculator uses to determine a person’s retirement outlook. Additionally, the awkward wording, advanced investment terminology, and the confusing box placement mentioned earlier add to the difficulty for a person with limited knowledge of his/her retirement planning. Still, the retirement calculator bloomberg has can be a useful tool to help you plan your retirement if you have some knowledge about your investments and the investment terminology that Bloomberg uses on its site.