Here we’ll show you the future of your retirement! Just follow the steps below!
This calculator is designed as an informational and educational tool only and does not constitute investment advice. We strongly recommend that you seek the advice of a financial services professional before making any type of investment. We also encourage you to review your investment strategy periodically as your financial circumstances change. This model is provided as a rough approximation of future financial performance. The results presented by this calculator are hypothetical and may not reflect the actual growth of your own investments.
This calculator is designed to determine what constant amount of savings will be needed to accrue an amount of money for a retirement that will last 30-36 years. This number is based upon mortality tables to correlate to what a normal retirement is as of 2012. Accordingly, if one were to set their Retirement Age to an age less than 62, the results of this calculator would likely be inappropriate to determine what amount of money needs to be accrued for retirement. As this calculator is making projections into the future, it must make certain as sumptions regarding changes to Annual Income and inflation. These are done at a constant rate of 3%. Accordingly, this is the most precarious assumption made in the calculator, as individual’s circumstances are unlikely to achieve an even cost of living adjustment in wage’s and expenses that correlate to core inflation’s historical average. Thus, as one’s circumstances change, please return to this calculator and revisit your personal situation to review how things may have changed. Regarding section 6. Pension/Social Security, be sure that this is inputted in Current Age dollars, not Retirement Age dollars, as this calculator will assume a cost of living adjustment of 3%. Regarding section 7. Spending During Retirement, 'Less” corresponds to a reduction of Annual Income needed in retirement to 85%, whereas “About the Same” corresponds to 100% of Annual Income. Regarding section 8. Acceptable Risk, “Appropriate” assumes an investment return of 8% annually, whereas “Conservative” assumes an investment return of 6% annually. Thank you for your time and attention!