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Calculating how much you need to save for retirement has never been easier! You can even keep your results to share them with your financial planner.
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Weighted average income: A weighted average is used when values do not all have the same relative importance in the total. SimulR uses a weighted average to calculate the average earnings of an individual who would receive, for example,
$30 000 from age 55 to 65 (for 10 years) and
$50 000 from age 65 to 90 (for 25 years).
Length of retirement: 90 – 55 = 35 years
In this example, SimulR calculates the weighted average income as follows: