Retirement calculators now focus on spending

Investors seeking a peek into their retirement finances have powerful online tools at their disposal, as a growing number of calculators offer details about retirement income and expenses. Some, such at Putnam Investments' calculator, give people a look at how much they'll spend on health care. "It's not about accumulation," said Edmund Murphy III, Putnam's head of defined-contribution services. "It's about spending in retirement."

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