I like comparing results using different retirement planning calculators. I've been retired for 16 years but I'm still "planning" since I may just have 30 more years to live. I find that all of the calculators Ive used have shortcomings. Most do not take into account continued savings/investments after retirement, some do not include enough key variables to give realistic results and others make assumtions that cannot possibly be applicable for every user. I came across a calculator that discounted pensions. I know pensions have just about gone the way of the dinasour but some of us still have them. To leave out one of the most important sources of income, if not the most important, negates the validity of the figures this calculator produces. The calculators that come closest to being adequate are MSN's retirement calculator (concise) http://money.msn.com/retirement/retirement-calculator.aspx
and CNN's Money 101 calculator, more detailed: http://cgi.money.cnn.com/tools/retirementplanner/retirementplanner_101.jsp
Unfortunately, neither accounts for savings and investments that will continue during retirement although the fields request this information. Both calculators generate charts that list your projected income and sources, gains on investments, annual beginning and end balances, how much you'll have to withdraw and what year you will need to start. Have any of you used online retirement planning calculators? If so, did you find one (or more) that you felt were good?