CNN Money Retirement Calculator Current Age: Retirement Age: Annual Return on Investment: Initial Investment: Annual Contribution: Total Savings: //The function which calculates the total savings in retirement function calculateRetirementSavings() { // Get the values from the textboxes var curAge = parseInt(document.forms[0].curAge.value); var retAge = parseInt(document.forms[0].retAge.value); var annualReturn = parseFloat(document.forms[0].annualReturn.value); var initInvestment = parseFloat(document.forms[0].initInvestment.value); var annualCont = parseFloat(document.forms[0].annualCont.value); // Calculate the total savings in retirement var totalSavings = initInvestment; //add any interest that has accrued, and any extra contributions for the given years for (var i=curAge; i<retAge; i++) { totalSavings += (totalSavings * (annualReturn/100)) + annualCont; } // Display the updated total savings in the HTML document.getElementById("totalSavings").innerHTML = "$" + totalSavings.toFixed(2); } // Resets the textbox values and the calculated total savings to their defaults function resetRetirementSavings() { document.forms[0].curAge.value = "40"; document.forms[0].retAge.value = "65"; document.forms[0].annualReturn.value = "5"; document.forms[0].initInvestment.value = "25000"; document.forms[0].annualCont.value = "5000"; document.getElementById("totalSavings").innerHTML = ""; } // Call the calculatedRetirementSavings() function when the page loads window.onload = calculateRetirementSavings; Retirement planning made simpler with CNN Money Retirement Calculators Retirement planning can seem like a daunting task at times. The thought of ensuring you have enough saved to last the rest of your life can seem daunting to even the most experienced investor. Fortunately CNN Money provides numerous tools to make planning your retirement easier. Their retirement calculators break down the complexity of saving and allow you to see where you are now and how to get where you want to be in the future. One of the most useful calculators available is the retirement income calculator. This calculator figure out your expected retirement needs and how much money you should start saving today to give you the retirement lifestyle you want. It is a three step process that allows you to customize your individual financial goals. The first step is to set your retirement goals. This would include desired retirement age, yearly income needs during retirement, and any one-time contributions you would like to make. The second step involves taking into account your current financial situation. This part looks at dentifying existing assets, savings, and Social Security payments. The last step will help you decide on a retirement plan, which will specify how much would need to be saved each year to achieve the desired retirement lifestyle. Another calculator available from CNN Money is the retirement savings calculator. This calculator calculates the amount of savings needed to achieve your retirement goals assuming the current level of contribution are maintained. It is also a three step process. The first step helps estimate a retirement age and retirement income level. This information is then used to calculate a retirement savings goal. In the second step, the calculator provides an estimate of the amount of money that would need to be saved each year to reach the retirement goal. The third step completes the calculation by adding in the inflation rate and current interest rate. This final step will calculate the total amount of money that needs to be saved to reach the retirement goal. CNN Money also provides an annuity calculator. This calculator helps estimate the amount and type of annuity that would best fit your retirement needs. Your individual results will depend on your retirement goals and current financial situation. Factors such as life expectancy, inflation rate, investment return, and Social Security benefits all play a role in determining the best annuity option. CNN Money also has other calculators such as a Social Security calculator and an early retirement calculator. All of these tools will help you develop an effective retirement plan. Whether you are just starting to plan for retirement or are close to retirement, using the CNN Money retirement calculators can help you better understand the complexity of retirement planning and make the job of planning your retirement an easier one.