subject: Financial Planning Calculators Making The Financial World Easier To Understand [print this page] The very confusing world of finance can be made much simpler through the use of well-designed financial planning calculators. These calculators represent a wide range of financial topics, require little, if any, financial knowledge, and ask the right questions to deliver the answers needed. Fortunately, the world of finance is one in which financial planning calculators can provide much needed help in answering the tough questions we face in our daily lives.
Financial planning calculators have been constructed to answer commonly-asked questions found in most everyday decisions: retirement planning, home mortgages, loans, investments, taxes, buying versus leasing autos, personal finance, credit cards, savings, and insurance products. In many of these calculators, responding to as few as four or five questions is all that is needed to get the answer needed.
In an attempt to simplify things, many financial planning calculators that exist on the Internet are too simplistic, offering results that may be misleading for the user; so few questions are asked that a personalized plan is nearly impossible to obtain. Other calculators err in the opposite extreme by requiring scores and scores of inputs with an excessive amount of printout pages, taking very little advantage of the power of Internet based calculators. Finally, there are those retirement calculators that require pages and pages of inputs with poorly designed navigation; the power of being able to do what-if scenarios is lost in such calculators.
One financial topic that no one can ignore is retirement planning. The good news is that financial planning calculators excel in addressing this topic. The hallmark of a well-designed retirement planning calculator is to answer each of the following three questions: 1) How big of a nest egg do I need at retirement, 2) What will my current nest egg be worth at retirement, and 3) How much do I need to save to make up for the shortfall, if any. The calculator should ask for just enough inputs to answer each question, provide an easy to interpret printout of the results, and allow for simple navigation between each page to accommodate what-if scenario analyses.
by: EnTrusted
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