When you are planning for retirement, you have to account for two points:

1. Inflation
2. Spend down of your accumulated assets

This means that we are going to use two kinds of calculators.

1. Inflation Calculator from Bankrate.com. First step is to put how many years in the future you want to see how much your money is worth. The calculator can only do up to 45 years from today. Next is the Amount currently invested. If you are going to add monthly contributions, make sure that you fill it in as well. Then, calculate the expected inflation rate. Bankrate uses 3% as average from 1925 to 2014. But you can do your own estimation by going to usinflationcalculator.com. I use the last 10 year average to calculate mine. Lastly, I put everything else Zeros to get how much my money is worth to my specified timeframe.

2. Spend Down Calculator from Bankrate.com as well. You can fill in all the blocks. But I will caution you that you use my recommended interest rate of 7.07% to maybe up to 9% conservatively. I will update this article for the suggested conservative interest rates. Make sure to check back every six months.

2015 (1 Sem) - 8.01%
2015 (2 Sam) - 7.07%
2016 (1 Sem) -