Retirement Calculator in Excel

Current Age 28
When you wish to retire? 42

Expected monthly expenses after retirement

(in todays prices) $2,100.00
What is the expected inflation (%) 6.5%
How much returns do you expect(%) 8.5%
Yearly expenses at retirement $60,854.83
Corpus needed to produce this annuity forever
(and leave the principle behind) $715,939.17
How much you should save per month $2,230.76
Annuity generated by this monthly savings $715,939.00

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Using goal seek to find the monthly investment amount:
1. Set the blue color cell (C14) to zero
2. Go to Goal seek (data ribbon > what if analysis > goal seek)
(or tools menu > goal seek)
3. Set C16 as the cell to set
4. Set C14as the cell to change
5. Specify the corpus amount you want (for eg. $ 715,939.00)
6. Press OK. And Excel will calculate the required amount.