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Resources : Calculators : Retirement Income

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Use this calculator to determine how much monthly income your retirement savings may provide you in your retirement. Your annual savings, expected rate of return and your current age all have an impact on your retirement's monthly income. View the full report to see a year-by-year break down of your retirement savings.

Retirement Income Retirement Income Your retirement savings provides NPV_MONTHLY_WITHDRAW_AF per month after taxes and inflation.

According to your inputs, at age AGE_OF_RETIREMENT your savings will provide MONTHLY_WITHDRAW_BF per month for YEARS_OF_RETIREMENT years. This is before taxes. After taxes you will have MONTHLY_WITHDRAW_AF per month. In today's dollars, this is equivalent to NPV_MONTHLY_WITHDRAW_AF with INFLATION_RATE annual inflation.

Savings can provide Income of before taxesMONTHLY_WITHDRAW_BF per month Income of after taxesMONTHLY_WITHDRAW_AF per month Value of income today ( with INFLATION_RATE annual inflation)NPV_MONTHLY_WITHDRAW_AF

Retirement Income Results Starting balanceSTARTING_BALANCE Annual contributionANNUAL_CONTRIBUTION Current ageCURRENT_AGE Age of retirementAGE_OF_RETIREMENT Years of retirementYEARS_OF_RETIREMENT Rate of return before retirementRATE_OF_RETURN Rate of return during retirementRETIREMENT_ROR Current tax rateCURRENT_TAX_RATE Retirement tax rateRETIREMENT_TAX_RATE Expected rate of inflationINFLATION_RATE Is this savings tax deferred?TAX_DEFERRED Increase annual deposit with inflation?INCREASE_ANNUAL_CONTRIBUTION Total contributionsTOTAL_CONTRIBUTIONS Savings total before taxesSAVINGS_TOTAL_BF_TAX Savings total after taxesSAVINGS_TOTAL_AF_TAX Value of savings todayNPV_TOTAL_AFT Income Taxes

We estimate that you will owe RETIREMENT_TAX_RATE income tax on MONTHLY_TAXABLE_AMOUNT of your monthly retirement income. TAX_MESSAGE

Balances by year **REPEATING GROUP**



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Starting balance
Initial balance that you have in your retirement accounts.

Annual contributions
The amount you will contribute to your retirement savings each year. This calculator assumes that you make your contribution at the beginning of each year. This should reflect the total you save toward your retirement. This should include any 403(b), 401(k), or 457(b) plans and your employer contributions to these plans. It should also include any other retirement accounts such as an IRA or a Roth IRA and any retirement savings in non-retirement accounts. This calculator assumes that you make one annual contribution at the start of each year, and any withdrawals happen once per month at the beginning of each month.

Current age
Your current age.

Age of retirement
Age you wish to retire. This calculator assumes that the year you retire, you do not make any contributions to your retirement savings. So if you retire at age 65, your last contribution happened when you were actually age 64.

Rate of return before retirement
This is the annual rate of return you expect from your investments before taxes. The actual rate of return is largely dependant on the type of investments you select. From January 1970 to December 2006, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.5% per year (source: www.standardandpoors.com). During this period, the highest 12-month return was 61%, and the lowest was -39%. Savings accounts at a bank pay as little as 1% or less.

It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect additional sales charges and fees that funds may charge.

Rate of return during retirement
This is the annual rate of return you expect from your investments during retirement. It is often lower than the return earned before retirement due to more conservative investment choices to help insure a steady flow of income. The actual rate of return is largely dependant on the type of investments you select. From January 1970 to December 2006, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.5% per year (source: www.standardandpoors.com). During this period, the highest 12-month return was 61%, and the lowest was -39%. Savings accounts at a bank pay as little as 1% or less.

It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect additional sales charges and fees that funds may charge.

Current tax rate
Your current marginal tax rate you expect to pay on your taxable investments.

Retirement tax rate
The marginal tax rate you expect to pay on your investments at retirement.

To increase deposits with inflation checkbox
Check this box if wish to have your annual contribution increased each year to keep up with inflation.

Is savings is tax deferred checkbox
Check this box if your retirement savings is being deposited into a tax deferred account. This includes an IRA, 401(k), 403(b), governmental 457(b), variable annuity or other tax deferred investment.


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