| 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 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. |
| Pre-retirement
rate of return |
The annual percent you expect to earn on your investments
before you retire. |
| Post-retirement
rate of return |
The annual percent you expect to earn on your investments
after you retire. |
| Percent
of income to save |
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
income desired |
The percent of your working year's household income you
think you will need to have in retirement. This amount
is based on your last year's salary. The default is 100%
minus your retirement savings percent. For example, if
you save 20% of your salary towards your retirement the
calculator will default your percent income desired to
80%. You can change this amount to be as low as 50% and
as higher 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. |
