How do I use the retirement calculator in Quicken 2007 for Mac?
The retirement calculator lets you look at one retirement account at a time to project how much income that account will provide in your retirement. Quicken can calculate one of three different fields in this calculator.
- Choose Activities > Planning Calculators > Retirement.
- Click the arrow next to the amount you want Quicken to calculate.
- Select Current Savings to calculate the amount you need to start with to meet your projected retirement income goals.
- Select Contribution Each Year to calculate how much you need to contribute to this account each year to meet your goals.
- Select Retirement Income to calculate how much this investment will be worth based on your estimated tax rate and all contributions.
- Enter amounts for each outlined field. Press Tab to move from field to field. Quicken updates the calculated amount each time you move to a new field.
- Select the Inflate Contributions checkbox if you want to keep up with the effects of inflation by increasing your contributions by the rate of inflation each year.