Combo Retirement Calculator
- Subtract any other income (in today's $ - Social Security, annuity, pension etc..) that you'll receive from the amount on which you'll need to live.
- The amount that you need to live on should include taxes.
- Withdrawals are made at the beginning of the year.
This is a good calculator if you would like to do a bunch of "what if" scenarios.
- Joe and Sue are going to retire in 5 years. They've been saving for years and have accumulated $1.2 million dollars and can earn appoximately 8% per year by investing in the stock and bond markets. Now they want to know how much they can withdraw each year in retirement. Using the calculator, enter:
- Using the example above... Sue says their annual income is about $45,000.00 now. They both think that $59,186.81 is way too much. Maybe they can retire earlier? They'd like to see how much $ they'll need if they retire in 2 years. Here's what to do -