In planning for retirement, many people focus on how much money they will need to save in order to live comfortably. However, in order to get to that number, one should calculate a personal life expectancy, as many people tend to underestimate the number of years of retirement for which they need to save.
As Janet Novack points out in an excellent Forbes column, there are a number of retirement calculators available to help one run the numbers. These range from simple tools to calculate how Social Security benefits will be affected by taking early retirement to sophisticated evaluations of investment strategies.
Learn more from an estate planning lawyer at Littman Krooks by visiting http://www.elderlawnewyork.com/.