Savings Calculator For Retirement – What’s Needed?

Perhaps the most important point about saving for retirement is start as early as possible, because the sooner you start, the more likely you are going to achieve your financial goals and have the money to do the things you want to do in your retirement.

So in my savings calculator for retirement you have to be aware of inflation because what you can buy with a dollar now, will not be possible in 10,20,30 and certainly not 40 years time. For instance, when I was a kid a loaf of bread cost about 50 cents, now the average in this part of the world is more like $2.50.

The next step in my savings calculator for retirement is to ask yourself the question ‘how long am I going to be retired for?’ and for most people who plan to retire around the age of 60, the answer should really be 40 years. This is not excessive, even though most people don’t live to the age of 100, because I’ve heard of quite a few stories that retirees start running out of money – and who wants that sort of pressure when you are potentially old and feeble?!

This next idea you probably won’t come across in a more traditional style of savings calculator for retirement. This idea is: don’t count on any government assistance at all. I’m well aware that at this point in time governments in a number of countries provide some sort of financial assistance to the seniors of society through pensions and/or subsidized services such as health care and housing. Just because these services or payments are available now, does not mean they will be there in the future. The reason being that the post WW2 baby boomer generation is now starting to reach retirement age and they make up approximately 20 percent of the entire population in the US. That approximate statistic would be somewhat accurate in many countries. The effect of the baby boomers retiring is that more and more people will be eligible for government support with fewer tax payers to provide the income. I believe that the end result is government support will significantly diminish over the next 20 years and this will happen in many countries.

The next thing to look at in my savings calculator for retirement is health. None of us can guarantee that will be fit and healthy. Sadly, most of us will experience a significant decline in health over a number of years and that translates into a huge cost. If you want to make sure that you will get the health care that you want, then its better to budget for this.

Obviously any savings calculator for retirement will deal with the day to day living expenses and this is very important, especially to allow for inflation over a long period of time.

My final tip in my savings calculator for retirement is to understand that the economy goes in cycles and every so often there is a recession where invested money looses a significant amount of value. For instance, in my lifetime, there has been a stock market crash in the late 1980’s, the ‘dot.com’ bubble burst that affected the stock market in the late 1990’s and in recent years, the global financial crisis.

I know my savings calculator for retirement is different to most, but I hope it has given you useful information.

All the very best for your future.

How to Calculate Body Mass Index

Body mass index, also known as BMI, is a calculation to help determine whether or not you are overweight. The calculation takes into consideration your weight in relation to your height, and comes up with a number that is an accurate barometer as to whether or not you need to lose weight.

Many health websites are equipped with a BMI calculator that does the work for you. With a BMI calculator, all you have to do is enter your height and weight, and the tool pops out your final BMI reading. A body mass index of 18.5 or less means you are underweight. A healthy weight falls between 18.5 and 24.9, with the overweight category between 25 and 29.9. If you have a body mass index over 30, it means you are technically obese. Some people with BMI readings into the 30’s and 40’s may be eligible for weight loss surgery to help correct the problem before they suffer serious health consequences.

If you are unable to get to a website that has a BMI calculator, you can figure out your reading manually. All you need is a piece of paper, a pencil and a regular calculator. Using your imperial measurements, the calculation is as follows: Weight in lbs / (height in inches x height in inches) x 703. The metric calculation is as follows: Weight in kg / (height in meters x height in meters). As an example, for a 180 lb person who is 5’6, or 66 inches tall, the calculation would be 180 / (66 x 66) x 703, which equals a BMI of 29. For a metric reading, a person who is 65 kg and 1.7 meters tall would read 65 / (1.7 x 1.7) which equals a BMI of 22.5. Figuring out your BMI manually is accurate and will give you a true reading, but a BMI calculator is much more convenient if you’re able to find one.

In some cases, a BMI reading will suggest weight loss is necessary when it really is not. For people who train regularly with weights, their muscularity will add weight that the BMI calculator can’t differentiate from fat. If a weight lifter or bodybuilder is of average height, the BMI reading may suggest he is obese, when that definitely is not the case. On the other side, some older people who have lost quite a bit of muscle may get a BMI reading that is lower than their overall fat content would indicate. Weight loss may be a wise choice, but the BMI numbers won’t agree.

However, in the majority of cases, your BMI number is a true reflection of the state of your body composition. It is important for people with a high BMI to lose weight, as carrying added pounds is associated with health risks such as arthritis, heart disease, stroke and type 2 diabetes. Punch your height and weight into a BMI calculator online, or figure out your BMI manually to help gauge whether it is time to lose weight or if everything is just fine.

Army Body Fat Calculator

The army body fat calculator is the U.S standard calculation of fitness for entry in to the force, within the specified allowed fat percentage. Each individual’s body fat percentage has to comply within a range of the age groups listed. Your gender has a role within the calculation as male and female body fat is scientifically different due to women carrying more fat than males. There are 5 other categories to enter for the calculation as a percentage, these consist of age, height, neck, waist and hip. So a result for your actual body fat percentage is calculated and then following the criteria for entry within the recruitment standards, and army body fat calculator, this percentage is examined as successful or unsuitable.

The U.S army have their own selected way of categorising body fat, this is to do with the levels of fitness they will class as standard for entry requirements. Body fat percentages are an important factor in determining the amount of fat on a person’s body, which if too low or too high indicates risks on that individuals health overall.

Health risks whether seemingly insignificant to you should not be dealt with lightly, ignoring any kind of health risk is silly as you wont be aware of any dangers upon you and then the chance of you increasing it in to a dangerously high factor of ill-health are very imminent. Make sure you do have regular checks from your dietician or other health professional, they are there for this particular specification so take advantage and get to know the facts about your body.

Once you have the answers about your weight, diet values and the effects of your lifestyle on your body you need to start to a new positive plan that will reverse likely hoods of risks on your health. Create a personal diet plan for yourself that suits you and wont leave you tired and unhappy, even if this means a reward at the end of the week by treating yourself to chocolate as a dessert or by going out for a meal. Keeping a balance between better foods and exercise will result in weight loss at the speed your body chooses, so don’t push yourself over your limits, we all have them.

Starting up a new active career or any other personal goals that involve a health assessment of your body fat, the army body fat calculator can still be used if you require the final percentage. It is always useful to know such calculations and estimations to give you the area within the health bracket that you stand, in order for you to do something about it or at the best, maintain the lifestyle you have if you stand within a healthy recommended area.