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  Retirement Income Calculator  
  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.  
     
 

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Definitions
   
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. This calculator also assumes that you make your entire contribution at the end of each year.
Annual Contribution :  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.
Pre-retirement Rate
of Return : 		 This is the annually compounded 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. For example, for the last thirty years the average annual rate of return for domestic equity stocks has been about 10%. Savings accounts at a bank pay as little as 2%. For the purposes of this calculator taxation is not factored into the results.
Post-retirement
Rate of Return : 		 This is the rate of return expected 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. For example, a balanced portfolio of stocks and bonds may earn two to three percent less each year, but would be less susceptible to dramatic stock market fluctuations.
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.
Is This Savings
Tax Deferred? : 		 Check this box if you retirement savings is being deposited into a tax deferred account. This includes an IRA, 401(k), Variable Annuity or other tax deferred investment.
Increase annual contribution? :  Check this box if wish to have your annual contribution increased each year to keep up with inflation.
Percent of Income at Retirement : The percent of your working year's household income you think you will need to have in retirement. This amount is based on your income earned during the last year you will work. The default is 70%. You can change this amount to be as low as 50% and as high as 150%.
 
     
  Information and interactive calculators are made available to you as self-help tools for your independent use. We cannot and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
 
     
 
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