Increasing Contributions

A retirement planning tool is only as good as its assumptions and inputs. Share your thoughts or ask questions about the internals of the simulation, built in planner assumptions, or planner inputs.
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CMR1

Increasing Contributions

Post by CMR1 »

This is a wonderful tool you have built. Is there an easy way to add a growth rate to contributions? I have clients who contribute 10% of a salary that traditionally increases faster than inflation due to promotions and raises. I see that I can manually put increases in every 5 years with additional inputs, but was wondering if I could dictate a % of salary figure.

Also, is there a way to goal seek to find how much they should be saving to fund a certain monthly retirement amount?

jimr
Posts: 577
Joined: Thu Feb 28, 2008 6:48 pm

Re: Increasing Contributions

Post by jimr »

Hello,

Thanks for posting.

Unfortunately, aside from manually adjusting the value every few years using the additional inputs, there's no automatic way to do have contributions set as a percent of income.

Also, the goal-seek doesn't have an option to optimize around annual contribution. It would be a cool feature though, and perhaps I'll get to it one day.

Jim

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