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Retirement planning calculators are great financial tools for retirement planners. This gives you the necessary information about what you will require to accomplish your retirement monetary goal. Saving for the retirement years can be said to be a continuous process and the sooner you begin with it, the better. Making calculations from time to time helps you get a better understanding of your present monetary status and allows you to plan accordingly so that you can spend your retirement days just the way you envision them now. But, before you begin the computation of your savings, there will be several factors you will need to take into consideration. These include the following factors like:
- Your present age
- Planned age for retirement
- Gross retirement income
- Rate of interest
- Rate of inflation