Online Calculators, again? Don’t we have enough already! What’s different about these? Questions, Questions and Questions! And that’s what the difference is about Big Questions – Unovest’s online calculators. Read on.
Am I saving enough for my Brazil trip?
Am I on track for my retirement? When can I call it quits and start doing what I always wanted to?
Will I be able to save enough for my daughter’s education?
I am planning to buy my own home. How much EMI will I have to pay?
These are questions that you will continue asking.
While you may know your goals broadly, you have stayed away from knowing what will it take to reach the goal. Yeah sure, you want to retire in 10 years at age 45 or 50.
What do you need to do now to achieve that goal?
Similarly, you want to save enough for your daughter’s education. You have no idea if she will want to study Architecture or Software Engineering, yet you want to set aside the money so that she can use it for what she decides to do. But how much?
In most cases, when you don’t want to be very specific, this simply zeroes down to one question – Am I saving enough?
So, today, I want to tell you about how you an take the guess work out of your money decisions. And to begin with, you can know answers to all the questions that you are asking about saving enough, your financial freedom, daughter’s education and buying your own home.
We are bringing to you 4 calculators to help you with these questions. No downloads required. Just input your goals in terms of numbers and see the magic for yourself.
Here’s a quick brief about them.
#1 Are you on track for your retirement?
This is a quite comprehensive retirement planning calculator, which I have personally used with several of my own clients. It takes in several pieces of information.
You might not want to hurry and take a few minutes to understand what it requires before feeding it. Try various combinations of assumptions to understand what will it take to claim your time as your own.
#2 How much to save to provide the best education for my daughter?
Personally, you might want to give this goal the highest priority. The different thing about this child education planning calculator is that it allows you to plan for the goal in a shorter period.
#3 Am I saving enough for <name your goal>?
Brazil Trip, Visit to Disneyland, Car, Home downpayment, charity – anything that you have in mind. If you can’t measure it, you will not be able to make meaningful changes to your strategy, leave alone fulfil it.
This future value and savings calculator allows you to do that. The difference is that it takes in what you are saving today to tell you how much will you total up to.
#4 What EMI will I have to pay?
I agree this is one of the most general calculators. I think that it is an important decision too.
A heavy EMI load on your income can drive your finances crazy. So the big question actually is whether I can afford the EMI?
There are more suggestions on the EMI calculator page itself. Go and have a look!
Once you have tried out the online calculators, please do send in your feedback and suggestions for improvement. I will also like to know from you any important decisions / questions that you have in mind and that we can incorporate here.
The journey to take the guesswork out has just begun. 2018 is going to be exciting!