FiveCentNickel and Consumerism Commentary both have a new ad with a new retirement calculator.

Supermomma4 & I score a 118 (which means based on information I supplied, in retirement, we would have 118% of our current living standard).

Both fivecentnickel and Flexo are suspect of the numbers; so am I. I would never have guessed I would be above 100%. I would have guessed I would have been more in the range of 85%-95%.

Reasons are:

  • We are “SILKs” (Single Income, Lots of Kids) not “DINKs” (Dual Income, No Kids).
  • I have only been funding a 401k for about 5 years (maximum to receive the match = 5% me, 4% them)
  • Although we have no credit card debt, we do owe approx. $8,400 on a new furnace/heat pump.

Consider the calculator suspect, but helpful.

Thanks FiveCentNickel & Flexo.