## Wednesday, March 30, 2011

### Retirement Age

No, I’m not thinking of retiring anytime soon, but it can be useful to have a nifty little formula or two that calculates Retirement Age in Excel. This can be very useful, for instance, if you work in Human Resources, if you are doing Financial Planning, or if you just like to Daydream about days in the future when all you are concerned about is your golf score.

As anyone who has worked with the application for a long time will tell you, the way Excel handles dates is sometimes a bit less than intuitive. There are, however, a couple of elegant ways to calculate Retirement Age based on a person’s Date of Birth.

First of all, let’s assume that the person’s birth date is in cell B2 and retirement age is 65. One way to do our calculation as follows:

=DATE(YEAR(B2)+65,MONTH(B2),DAY(B2))

Another, even shorter, formula that you can use is the following (please note that you will need to format your cell as a date after using this one:

=EDATE(B2,65*12)

Well, there you have it; two slick ways for Calculating Retirement Age. Now pardon me while I daydream about golfing on Pebble Beach