Retirement Savings Projection


Future Income needs

This field is required and must be a whole number.

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Retirement Details (All fields are required)

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This field is required, cannot be longer than 2 digits, and must be a whole number.

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“In 2015, the average life expectancy is estimated to be 77 for a male and 81 for a female.” 2013 Annual Report of the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds, page 92.
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From 1913 to 2013 the average rate of inflation was 3.22%. 2015 InflationData.com (http://inflationdata.com/Inflation/Inflation_Rate/Long_Term_Inflation.asp)
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Your Information

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The analysis provided by this tool is based solely on the information provided by you. All examples are based on hypothetical interest crediting rates, and as such, do not represent current or future performance of any specific investment or product. The examples are estimates and are not guaranteed. The examples that have been prepared are for informational purposes only, and no representations are made as to the accuracy of any example. This information does not constitute legal, financial or tax advice, and as such, you should always consult a qualified professional legal, financial or tax advisor when making decisions relative to your individual situation. Not eligible under Section 125.

Current Contributions

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Your Future Savings with Tax-Deferred Benefit

This calculation is designed to help compare the potential future value of an investment subject to income tax each year, Taxable Savings, with an investment where taxes are deferred until funds are withdrawn, Tax Deferred Savings. Savings Gained is the difference between Tax Deferred Savings and Taxable Savings.

Total Contributions

 

Taxable Savings

Tax Deferred Savings

Savings Gained

 

What is Tax Deferred?
Tax-deferred is investment or interest earnings that accumulate tax-free until withdrawn and distributed to the investor. Tax-deferred does not mean Tax-free. Withdrawals of tax deferred or deductible contributions and all tax-deferred earnings will be taxed as ordinary income at time of distribution. Withdrawals prior to age 59½ may be subject to a 10% tax penalty; mandatory distribution requirements (i.e., age 70½ for most people) may reduce computed accumulations.
What is Taxable?
Income that is received and that is subject to taxation by the applicable Federal and/or State government. After-tax returns reflect a 28% federal income tax bracket and do not take into account any state income taxes. Calculations are based on an effective after-tax rate of return.
Investment Return
Investment return and principal value may fluctuate with market conditions based on the type of investment chosen. An investment in a qualified retirement account or plan does not guarantee that your retirement income needs will be met.

Tax-deferred savings is generally not eligible under Section 125.

Summary

Adjust My Plan

Results

Monthly

Estimated Monthly Income
Lifetime + 10 year fixed period


Disclosure

These calculations are "hypothetical" and are not indicative of any actual investment performance or insurance product. Assumptions are based on annual effective interest rates credited at the first of each month. Actual values may be more or less than listed above. Please consult your tax advisor for information regarding your specific tax situation.


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