~
~
Privacy Policy


Note: Due to rounding, the calculations are approximate.



EXAMPLE:
 The assumptions:
 You're 40 years old and would like to retire at 65 (in 25 years). Your spouse will retire with you.
You and your spouse currently have $150,000 in a taxable account to which you're no longer contributing. You also have $500,000 in IRAs (between the two of you) and will continue to contribute $8,000 ($4,000 each spouse) each year until you retire at 65. You're earning 5% per year on your taxable and IRA money and expect that to continue. You just used my Savings Calculator and found that you will have $2,582,947.50 (between your taxable account and IRAs) in 25 years.
You are also contributing to a 401(k) and after using my 401(k) Calculator found it will be worth about $120,000 by the time you retire at 65. So, in 25 years you'll have saved about $2,702,947.50. You think you can earn 5% per year in retirement and assume inflation will average 3.5% per year. You want the money to last for 35 years with nothing left for heirs after that time.
 25 = Years until you retire (age 40 to age 65)
 35 = Years of retirement
 5 = Interest Rate
 3.5 = Inflation Rate
 2702947.50 = amount saved at time of retirement
 0 = amount left
Press View Schedule You will be able to withdraw the equivalent of $ 41,296.86 (in todays $) each year  adjusting for inflation (see schedule). (Assuming all the above assumptions are met, of course.)
 Remember, any Social Security and/or Pension benefits you may receive will be added to that income. 
Be sure to review your plan periodically or as requirements change!

