Personal Finance Retirement

Does anyone know of a retirement calculator that figures in declining cash requirements as we age?

Actually, it is possible to have declining cash needs if you are planning to do a great deal of traveling during the first 5 to 10 years then settling back to a more domestic life with possible part time work, extremely self-sufficient children and a paid off/low maintenance house -- the latter 2 of which we are already enjoying. Of course there is always the risk of something catastrophic later in life but, I feel like we're very well prepared for most anything.

Public Comments

1. I never heard of such a calculator. Check out this site, it has all kinds of financial calculators easy to use from your computer...http://www.moneychimp.com/calculator/annuity_calculator.htm
2. I don't think it is very common for people's cash requirements to decline as they age. That certainly hasn't been the case for anyone I've known. Even in your case, it doesn't sound like you really have "declining cash requirements". You really just need a big lump sum at the beginning to finance your travel, then followed by the usual ongoing retirement needs (which, with inflation, will be unlikely to be declining). So, I would say you just need to figure how much you need for that first travel period, set that aside as a separate lump sum, and then use the normal calculators that figure in inflation and so forth for the remaining time after that first travel stage.