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March 2002
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Click and calculate your finances

There are scores of financial calculators on the Web. Here are some you might find useful in getting a handle on your current finances and your plans for the future.

The retirement calculator at FinancialEngines.com is a bit more involved than most. You input information about all your retirement investments, including how many shares of each stock or mutual fund you own, and this calculator gives you three forecasts: upside, median, and downside. The Web site does charge a fee for some services, but the initial detailed forecast is free. When you visit the site, click on the First Time Users link.

On the Motley Fool Web site (www.fool.com/calcs/calculators.htm#saving), you’ll find a retirement calculator that, though not as in-depth as the one at Financial Engines, still gives you a good picture of your financial future. It features the ability to customize the inputs based on the questions you want answered about your retirement.

Want some feedback on how to allocate your assets for a particular investment goal based on your tolerance of risk and the amount of time until you need the money? An asset-allocation calculator is among the offerings on the CNN/Money Web site (http://cgi.money.cnn.com/tools).

Though you might be frightened by the results, a college-cost calculator on the T. Rowe Price Web site tells you how much you still need to sock away to fund your kids’ higher education. The calculator will base its results on estimated costs from the specific college you select from its list of hundreds (www3.troweprice.com/cftools/CPC).

A home-sale-tax calculator on SmartMoney.com determines how much of the gain on a home sale, if any, is subject to capital-gains tax (www.smartmoney.com/tax/homefamily/index.cfm?story=homesale).

Illustration © Eyewire.

 

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