The Retirement Calculator can help solve several key problems related to retirement planning and savings:

1. Determining retirement savings needs: By inputting information about your current age, desired retirement age, expected lifespan, and desired annual retirement income, the calculator estimates how much total savings you will need to fund your retirement.
2. Assessing current savings progress: The calculator analyzes your existing retirement savings, such as 401(k)s, IRAs, pensions, and other investments, to determine if you are on track to meet your retirement savings goal.
3. Projecting future retirement income: The calculator estimates your potential retirement income from sources like Social Security, pensions, and withdrawals from retirement accounts to give you a comprehensive view of your expected income in retirement.
4. Calculating required savings rate: By comparing your current savings to your estimated needs, the calculator can determine how much you need to save each month or year to reach your retirement savings goal.
5. Scenario planning: Many calculators allow you to adjust variables like retirement age, investment returns, and inflation to see how different scenarios impact your retirement readiness.
6. Identifying savings gaps: If your current savings and projected income fall short of your retirement needs, the calculator highlights the gap, helping you recognize areas where you need to increase savings or adjust your retirement plans.
7. Providing a baseline for retirement planning: The calculator serves as a starting point for retirement planning, giving you a rough estimate of your savings needs to help guide your financial decisions and discussions with financial advisors.

By addressing these key issues, retirement calculators empower individuals to take control of their retirement planning and make informed decisions about their financial future.