Retirement Planner

Do you know what it takes to work towards a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your social security benefits up to, but not over, the maximum.

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Retirement Planner Results

RESULTS_MSG

END_OF_RETIREMENT_MESSAGE RESPONSE This is based on retirement expenditures of INCOME_REQUIRED_AT_RETIRE per year. This amount is INCOME_PERCENT of your last year's income of INCOME_AT_RETIRE. SOCIAL_SECURITY_MSG

Results Summary
Current age	CURRENT_AGE	Household income	HOUSEHOLD_INCOME
Rate of return before retirement	PRE_RATE_OF_RETURN	Age of retirement	AGE_OF_RETIREMENT
Rate of return during retirement	POST_RATE_OF_RETURN	Expected salary increase	SALARY_PERCENT
Years until retirement	YEARS_UNTIL_RETIREMENT	Years of retirement income	YEARS_OF_RETIREMENT
Percent of income at retirement	INCOME_PERCENT	Current retirement savings	CURRENT_SAVINGS
Percent of income to contribute	SAVINGS_PERCENT	Expected inflation rate	INFLATION_RATE
Your last year's income	INCOME_AT_RETIRE	Retirement expenditures	INCOME_REQUIRED_AT_RETIRE
Include social security? INCLUDE_SOCIAL_SECURITY		Are you married? MARRIED
Your ending balance is ENDING_BALANCE

Balances by year*

**REPEATING GROUP**

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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.
Household income: Your total household income. If you are married, this should include your spouse's income.
Current retirement savings: Total amount that you currently have saved toward your retirement. Include all sources of retirement savings such as 401(k)s, IRAs and Annuities.
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 2003, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.7% per year. During this period, the highest 12-month return was 64%, 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.
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 2003, the average compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 11.7% per year. During this period, the highest 12-month return was 64%, 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.
Percent of income to contribute: The percentage of your annual income you will save for your retirement goals.
Expected salary increase: Annual percent increase you expect in your household income.
Years until retirement: Number of years before retirement.
Years of retirement income: Total number of years you expect to use your retirement income.
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. You can change this amount to be as low as 50% and as high as 150%.
Are you married?: Check this box if you are married. Married couples have a higher maximum social security benefit than single wage earners.
Include social security?: Check this box if you wish to include social security benefits in your retirement planning.
Expected rate of inflation: What you expect for the average long-term inflation rate. This has been calculated by the Consumer Price Index from 1925 to 2002 to be 3.1%.