Retirement Calculator

Future Income needs

Enter Your Current Income *

This field is required and must be a whole number.

Desired Percentage of Current Income at Retirement *

Desired Income: {{vm.incomeRequired | currency}}

Retirement Details (All fields are required)

Current Age *

Retirement Age *

Years until Retirement*

Years of Retirement Income Required *

This field is required, cannot be longer than 2 digits, and must be a whole number.

“In 2016, the average life expectancy is estimated to be 77 for a male and 82 for a female.” https://www.ssa.gov/oact/tr/2017/tr2017.pdf
Source: Social Security Administration: 2017 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds; page 96; July 13, 2017

Anticipated Inflation Rate *

From 1913 to 2015, the average rate of inflation was 3.18%. http://inflationdata.com/Inflation/Inflation_Rate/Long_Term_Inflation.asp
Source: InflationData.com: Average Annual Inflation rates by Decade: June 18, 2015.

Anticipated Rate of Return *

Lump Sum Required:

Year	Annual Payout	Beginning Balance	Earned Interest	Ending Balance
{{$index+1}}	{{year.withdraw \| currency}}	{{year.beginningBalance \| currency}}	{{year.interest \| currency}}	{{year.endingBalance \| currency}}

The withdrawal shown is based on a 4% rate.

These figures above collectively represents your current income ({{ vm.incomeToday | currency }}) X your desired percent of current income at retirement ({{ vm.incomePercentage }}%) = desired income ({{ vm.incomeRequired | currency }}). Break down the figures: take your current age ({{$rootScope.issueAge}}) - retirement age ({{ $rootScope.retirementAge }}) = years until retirement age ({{ $rootScope.retirementAge - $rootScope.issueAge }}). Then years after retirement ({{vm.yearsAfterRetire}}) X anticipated Inflation rate ({{ vm.annualInflation }}%) X anticipated rate of return ({{vm.averageAnnualYield}}%) = your hypothetical annual payout.

Your Information

Current Age *

Retirement Age *

Retirement Savings Goal

Current Retirement Savings Balance

Amount To Reach Goal

Next Previous

The analysis provided by this tool is based solely on the information provided by you. All examples are based on hypothetical interest crediting rates, and as such, do not represent current or future performance of any specific investment or product. The examples are estimates and are not guaranteed. The examples that have been prepared are for informational purposes only, and no representations are made as to the accuracy of any example. This information does not constitute legal, financial or tax advice, and as such, you should always consult a qualified professional legal, financial or tax advisor when making decisions relative to your individual situation. Not eligible under Section 125.

Current Contributions

Retirement Age *

Years Until Retirement

Contribution Frequency

Monthly

Current Contribution *

Anticipated Rate of Return *

Annual Anticipated Contribution Increase Rate

Your Future Savings with Tax-Deferred Benefit

This calculation is designed to help compare the potential future value of an investment subject to income tax each year, Taxable Savings, with an investment where taxes are deferred until funds are withdrawn, Tax Deferred Savings. Savings Gained is the difference between Tax Deferred Savings and Taxable Savings.

No contribution amounts were entered. Select a Current Contribution amount above or enter a Current Retirement Savings Balance in the "Your Information" section.

Total Contributions

Taxable Savings

Tax Deferred Savings

Savings Gained

Next Previous

What is Tax Deferred?

Tax-deferred is investment or interest earnings that accumulate tax-free until withdrawn and distributed to the investor. Tax-deferred does not mean Tax-free. Withdrawals of tax deferred or deductible contributions and all tax-deferred earnings will be taxed as ordinary income at time of distribution. Withdrawals prior to age 59½ may be subject to a 10% tax penalty; mandatory distribution requirements (i.e., age 70½ for most people) may reduce computed accumulations.

What is Taxable?

Income that is received and that is subject to taxation by the applicable Federal and/or State government. After-tax returns reflect a 28% federal income tax bracket and do not take into account any state income taxes. Calculations are based on an effective after-tax rate of return.

Investment Return

Investment return and principal value may fluctuate with market conditions based on the type of investment chosen. An investment in a qualified retirement account or plan does not guarantee that your retirement income needs will be met.

Tax-deferred savings is generally not eligible under Section 125.

Payout Options

Your potential income payout is based on the following information:

Contribution

Retirement Age

Tax Deferred Savings:

Select the payout that works best for you

Annual Benefit

Monthly Benefit

Lifetime + 10 year fixed period

Lifetime + 20 year fixed period

Lifetime only

10 year fixed period only

20 year fixed period only

30 year fixed period only

Next Previous

What is Lifetime with Fixed Period?

Beginning on the commencement date (the date of the first payment) the Annuitant will receive a monthly payment for his or her lifetime. If the Annuitant dies before the end of the fixed period selected upon purchase (10 or 20 years), the beneficiary will continue to receive monthly payments until the end of that fixed period. If the Annuitant dies after the end of the fixed period, there is no death benefit.

What is Lifetime Only?

Beginning on the commencement date (the date of the first payment) a monthly payment will be made to the Annuitant for his or her lifetime. Upon the Annuitant's death all payments cease. There is no death benefit.

What is Fixed Period Only?

Beginning on the commencement date (the date of the first payment) the Annuitant will receive a monthly payment for the fixed period selected upon purchase, (10, 20 or 30 years). The Annuitant is not guaranteed a lifetime income. Income is only guaranteed for the fixed period selected at the time of purchase. If the Annuitant dies before the end of the fixed period, the designated beneficiary receives the remaining monthly payments.

Summary

Retirement Goal

Adjust My Plan

Planned Retirement Age

Monthly Contribution

Results

Current Balance

Retirement Goal

Amount To Reach Goal

Projected Savings

* Indicates a required field.