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Before We Get Started …
This calculator is intended to be quite accurate; accordingly, the information
and assumptions you make are critically important. Where we have an opinion,
we've provided a 'default' answer, but you can override any of those to your
own specifications. You must provide answers to the items below. You may want
to print a copy of this form [print a worksheet] and make sure
you've got all the information you're going to need. For example, if you don't
know your estimated monthly Social Security Benefit, you may want to use our
link to obtain this information from the Social Security Administration's 'Quick
Calculator.' Once you supply the information, you can change your
assumptions as often as you wish and you'll immediately see the results, which
assume that you will live 25 years after retirement.
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What to enter... |
More Info |
| 1. |
How old are you? |
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Your age in years; for example 39 |
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| 2. |
At what age would you like to retire? |
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Your desired retirement age, in years. For example, 65. |
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| 3. |
How much do you earn? |
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Your annual pay |
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| 4. |
What's a reasonable long-term inflation rate? |
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Your estimate of the inflation rate; for 3%, enter 3; for 3 ½%,
enter 3.5 |
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| 5. |
By what percent do you expect your pay to grow between now and
retirement? |
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Your estimate of the rate at which your income will grow; for
4%, enter 4; for 5 ½%, enter 5.5 |
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| 6. |
What percent of pay do you want to retire on? |
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Enter the percent of pay that's your goal for retirement as a
whole number; for example, if your goal is 80%, enter 80 |
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| 7. |
What is the current value of your retirement account? |
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The total current value of your account, including both your
and your employer's contributions |
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| 8. |
What other income producing assets do you expect to have at
retirement age? |
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The estimated future value of assets you can use to increase
your retirement income |
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| 9. |
What's your estimated monthly Social Security Benefit?
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Enter the monthly benefit estimate
If you don't know, get
Social Security here |
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| 10. |
What's a reasonable long-term investment return between now and
retirement age? |
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Your estimate of how much your investments will earn; for 6%,
enter 6; for 7 ½%, enter 7.5 |
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| 11. |
How about a rate of return after you retire? |
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Your estimate of how much your investments will earn after you
retire; for 5%, enter 5; for 6 ½%, enter 6.5 |
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