I have shown the worksheet on the right with some dummy data. Once the data is available, we will need to calculate the following, (5) Your expected return (%) on investments? (3) How much do you think you will spend every month when you retire (of course in todayвЂ™s prices)

(2) What is your expected retirement age? In order to proceed, we would need some data, like, (Note: the image shows commas according to Indian currency formatting.) рџ™‚ Make a financial model to estimate your monthly savings to meet retirement goals. Now that you understand goal seek, let us plan your retirement. Goal seek tells you what inputs you need to give in order to get certain output.ДЇor example, you can use goal seek to solve a linear equation or find the internal return rate (IRR) of an investment. sumproduct is an equation involving + and *). Formulas tell you what is the output of a bunch of variables used in an equation (for eg. We can think of goal seek as opposite of formulas. Today we will learn a fascinating little feature in excel called вЂњgoal seekвЂќ.Д«ut what good is a feature if we cant find a use for it? So we will build a simple retirement calculator using excel.Д«efore plunging in to the complex retirement calculations, let us spend a bunch of words understanding what this goal seek is all about.

Goal seek excel