Individuals in search of a free retirement calculator need not look further than Google for a large field from which to choose. These calculators can serve as a valuable tool for those thinking about the big picture of retirement. Since these calculators are an integral part of the retirement planning process, there is a need to evaluate them and create a set of standardized criteria to assess their validity for a given client. The users of these tools are average financial planning clients, but the beneficiaries of this analysis will be financial planners because they will be better able to understand their clients’ thinking. This paper will further educate planners on common calculators their clients may utilize, while also addressing which calculators best suit which clients.
Daniel McMenamin is a graduate of Widener University’s master of science in taxation and financial planning program. Dan will be working at Ernst & Young and is currently pursuing his CPA license.
Matthew Stranix is a recent graduate of Widener University’s master of science in taxation and financial planning program. He is working toward earning his CFP designation, and currently works for MassMutual Greater Philadelphia, pursuing a career in financial planning.
Kevin Tacchino is currently a master of science in taxation and financial planning candidate at Widener University. He also works as an associate business consultant for the Widener University Small Business Development Center, where he helps clients tackle a variety of financial issues. He previously attended Elizabethtown College, where he earned his bachelor of science in business administration with a double concentration in finance and economics.