About the NJFR Calculator
How to use the calculator
The calculator is used similar to a hand held calculator, using the cursor and single
left-click with computer mouse to “press” the appropriate buttons. The calculator
can be used as a regular 10-key calculator for addition, subtraction, multiplication
and division. But the primary strength of this calculator is the set of specialized,
color-coded buttons that are designed to make it easy to do five basic personal
finance related calculations:
- Yellow buttons are used to calculate the future value of a single (lump sum) amount.
- Blue buttons are used specifically to provide an answer to the question: “I have
$x available to finance retirement, how much can I afford to spend without running
out of money?”
- Green buttons allow the user to do two calculations: The future value of a multiple
year investment, or the amount that would need to be invested (the “replacement
$”) to produce / generate / replace an annual amount for 2 or more years)
- Red buttons are used to calculate the current, or prior amount of a single / lump
sum amount to be received 1 or more years in the future.
People and professions that would have use for the calculator:
This calculator can be a useful tool for (but not necessarily limited to)
- individuals who want greater control of their financial well-being
- financial professionals ,
- legal professionals specializing in wills, trusts, estate planning, divorce, dependency
cases,
- mortgage brokers,
- insurance professionals
- Real estate agents
- Sales professionals whose products can save their customer money compared to comparable
product or service
- Business brokers
- Accountants and tax advisors