A retirement planning calculator is a tool that helps individuals estimate how much money they will need to save in order to achieve their retirement goals.

These calculators use inputs such as the individual’s age, current savings, expected retirement age, estimated expenses in retirement, and expected returns on investments to calculate how much money they will need to save each year to reach their retirement savings goals.

Retirement planning calculators can also provide projections of future retirement income based on different scenarios and assumptions, such as changes in investment returns or retirement age.

Using a retirement planning calculator can help individuals make informed decisions about how much they need to save, how to allocate their investments, and how to adjust their savings and spending habits to meet their retirement goals.