Our mission is to empower individuals to take control of their financial future. We believe that everyone deserves a secure and comfortable financial future, and our free calculators are designed to help you achieve that goal.
Why?
We recognise that there is a significant financial advice gap in the UK, with approximately 35 million people lacking access to proper financial guidance. This gap is expected to widen as regulatory changes increase the cost of advisory services, potentially pricing out many individuals.
While auto-enrolment has been a positive step towards improving retirement savings, it is not a comprehensive solution. The current minimum contribution rates may not be sufficient to provide adequate retirement income for many individuals. Additionally, auto-enrolment does not address the broader spectrum of financial planning needs, such as financial protection and investment strategies beyond pensions.
By providing free calculators and resources, we aim to bridge part of this advice gap and empower individuals, especially young people, to make informed financial decisions. Our tools are designed to give guidance to help users understand their financial situation, set realistic goals, and develop strategies to achieve them. We believe that by taking action early and consistently, you can overcome the limitations of auto-enrolment and build a more secure financial future for yourself.
The Team Behind the Tools
Our retirement and investment planning tools were developed by a team of financial experts and software engineers passionate about making financial planning accessible to everyone. Led by Richard Paddle FPFS, our team combines years of experience in finance, analysis, and user experience design.
About Richard Paddle
Richard Paddle is a highly experienced financial professional and the driving force behind Retirement Goal Planner. As a Chartered Financial Planner and Fellow of the Personal Finance Society, Richard brings a wealth of knowledge and expertise to help individuals take control of their financial future.
Professional Background
Richard's career spans over two decades in the financial services industry, showcasing his diverse experience and expertise:
Financial AdviserFrom 2014 until 2025, Richard has been providing tailored wealth management advice and financial planning to high-net-worth clients. His expertise covers pensions, investments, and financial protection.
Expert WitnessRichard offers his expertise in investments, financial advice, and wealth management as an expert witness to the Law Courts around the world, demonstrating his ability to analyse complex financial situations and provide informed opinions.
Leadership RolesPrior to his current position, Richard held senior roles including Managing Director of European Structured Finance at Markit Ltd and Head of Investment Portfolio at HBOS plc. In these positions, he managed large teams and developed strategies for multibillion-pound portfolios.
Education and Qualifications
Richard's commitment to professional development is evident in his qualifications:
- Member of The Academy of Experts (MAE)
- Chartered Financial Planner (RDR Level 6)
- Fellow of the Personal Finance Society (FPFS)
- Advanced Diploma in Regulated Financial Planning (ADFS)
- BSc (Hons) in Physics with Physical Electronics from the University of Bath
Mission and Vision
Through RetirementGoalPlanner.com, Richard aims to bridge the financial advice gap in the UK. He recognises that millions of people lack access to proper financial guidance, and he is committed to providing free calculators and resources to empower individuals, especially young people, to make informed financial decisions.
Our Partnerships
We're proud to partner with reputable financial institutions and pension providers to offer you additional resources and services. These partnerships allow us to provide links to trusted platforms where you can take the next steps in your retirement and investment planning journey.
Privacy and Terms of Use
Your privacy and data security are our top priorities. We do not store any personal information entered into our calculator, and all calculations are performed locally in your browser.
Terms of Use- The use of this website, RetirementGoalPlanner.com and the content available on this website is subject to your acceptance of these terms of use. If you do not agree to these terms you must not use our website.
- All information shown on this website is for information purposes only.
- The information on this website should not be relied upon for any investment, trading, financial or legal decision.
- All content on this website is provided for personal use only.
- You are not permitted to redistribute, republish, or copy any of the contents of this website, whole or in part, without our prior express written permission. © 2025 Richard Paddle.
FAQ - Frequently Asked Questions
Before contacting us, you might find answers to common questions here:
- What's the difference between financial advice and financial guidance?
- Is financial guidance free?
- How can I find reputable sources for financial guidance?
- What topics does financial guidance typically cover?
- How can financial guidance help me improve my financial situation?
- Can financial guidance help me with retirement planning?
- How often should I review my finances with a guidance service?
- What are the limitations of financial guidance compared to personalised advice?
- Can financial guidance recommend specific financial products?
- Is financial guidance regulated in the UK?
- What protections do I have when using financial guidance services?
- Does financial guidance cover topics like investments and pensions?
- How accurate is the retirement planner?
- Can I save my calculations?
- What information do you collect?
- How does the algorithm for the Retirement Planner calculator work?
- Starting Amount: $$ startAmount = salary \times \frac{sharenum}{100} $$
- Growth Factor: $$ growthFactor = 1 + \frac{growth - varfee - 2}{100} $$
- Number of Periods: $$ numPeriods = 91 - startAge $$
- $$ value = (initialInvestment + (startAmount - (12 \times fixedfee))) \times growthFactor^{period} $$
- How does the algorithm for the Investment Goal calculator work?
- Goal Amount
(G): The target investment amount - Monthly Savings
(M): Regular monthly contribution - Growth Rate
(r): Annual growth rate (as a decimal) - Fixed Fee
(F): Monthly fixed fee - Percentage Fee
(p): Annual percentage fee (as a decimal) B_nis the balance at the end of periodnB_{n-1}is the balance from the previous periodMis the savingsFis the fixed monthly feer_mis the growth ratep_mis the percentage fee- How do I calculate how much money I'll need in retirement?
- How should my investment strategy change as I approach retirement?
Financial guidance provides valuable information and education, it does not offer personalised recommendations. For advice specific to your situation, you need to consult a qualified regulated financial adviser.
Many financial guidance services are free, especially those provided by government bodies or non-profit organizations. For example, in the UK, the Money and Pensions Service offers free financial guidance. However, some private companies may charge for more comprehensive guidance services.
Look for government-backed services, regulated financial institutions, and recognised non-profit organizations. In the UK, trusted sources include the Money and Pensions Service, Citizens Advice, and the Financial Conduct Authority's website. Always verify the credibility of any source before following their guidance.
Financial guidance typically covers a wide range of topics including budgeting, saving, debt management, retirement planning, investments, pensions, mortgages, insurance, and general financial education. It aims to help individuals understand various financial concepts and options available to them.
Financial guidance can help you understand your current financial position, set realistic goals, and learn about various financial tools and strategies. It can provide information on budgeting techniques, debt management strategies, saving methods, and investment options, empowering you to make informed decisions about your finances.
Yes, financial guidance can be very helpful for retirement planning. It can provide information about different types of pension schemes, explain the benefits of early retirement saving, and offer general strategies for building a retirement nest egg. However, for personalised retirement planning advice, you should consult a financial adviser.
It's generally a good idea to review your finances at least once a year or whenever you experience significant life changes such as marriage, having children, changing jobs, or approaching retirement. Regular reviews can help ensure you're on track with your financial goals and allow you to adjust your strategies as needed.
Financial guidance provides general information and education but cannot offer personalised recommendations. It can't tell you which specific financial products to choose or what actions to take based on your individual circumstances. For tailored recommendations, you would need to consult a regulated financial adviser.
No, financial guidance services typically cannot recommend specific financial products. They can provide information about different types of products and their features, but they cannot tell you which specific product to choose. For product recommendations, you would need to consult a regulated financial adviser.
Financial guidance itself is not regulated in the same way as financial advice. However, many organisations providing guidance are overseen by regulatory bodies. For example, the Money and Pensions Service, which provides free financial guidance, is sponsored by the Department for Work and Pensions and works alongside the Financial Conduct Authority.
While financial guidance services don't offer the same protections as regulated financial advice, reputable providers should still adhere to certain standards. Government-backed services like the Money and Pensions Service in the UK are accountable to regulatory bodies. However, you're responsible for any decisions you make based on the guidance provided.
Yes, financial guidance typically covers a wide range of topics, including investments and pensions. It can provide general information about different types of investments, explain the basics of risk and return, and offer guidance on diversification. For pensions, guidance services can explain different pension schemes, discuss the benefits of pension saving, and provide information about retirement planning strategies.
Our calculations are based on widely accepted financial principles and are regularly reviewed to ensure they align with current economic conditions. We can not accept responsibility for the accuracy of information provided as this tool is for guidance only.
We do not store any personal information entered into our calculator as a result you are unable to store your calculations.
When you visit our website, the following data is available to us: IP address, operating system, browser type, and date and time of visit. We use this information to measure the use of our website.
This website uses Google Analytics. This is a web analytics service provided by Google. Google Analytics uses cookies to help analyse how users use the website. The information generated by the cookie about your use of the website will be transmitted to and stored by Google.
The core of the calculator is the computation of the value of the retirement pot over time.
Initial Values
Value Calculation
The function calculates the value for each period using the following formulae:
This formula accounts for compound growth, initial investment, regular contributions, and fees.
Here's a breakdown of its key components and calculations:
User Inputs
Investment Growth Calculation
The script calculates the investment balance for each period over a 15-year timeframe using the following formula:
$$B_n = (B_{n-1} + M - F) \times (1 + r_m) \times (1 - p_m)$$Where:
Calculating retirement needs involves considering factors such as your desired lifestyle, expected expenses, inflation, and potential healthcare costs. A common rule of thumb is to aim for 60% of your pre-retirement income. Our retirement goal planner can help you make a more precise calculation based on your specific circumstances.
As you near retirement, it's generally advisable to shift towards a more conservative investment strategy. This often involves reducing exposure to stocks and increasing allocations to fixed income bonds and other less volatile assets. However, the exact strategy should be tailored to your risk tolerance, time horizon, and overall financial situation.