Future Income Needs

What is your current income? *

This field is required and must be a whole number.

What percentage of your current income do you plan to need in retirement? *

While Social Security replaces about 40% of the average worker's pre-retirement earnings, most financial advisors say that you will need 70% or more of pre-retirement earnings to live comfortably.¹

Desired Income: {{vm.incomeRequired | currency}}

Retirement Details (All fields are required)

Current Age *

Retirement Age *

Years until Retirement*

How many years will you need your retirement income? *

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

The current life expectancy for U.S. in 2024 is 79.25 years.²

Anticipated Inflation Rate *

Consider what inflation rates may be when you retire.

From 1913 to 2020, the long-term average rate of inflation was 3.1%.

Read more about how the inflation rate can affect your retirement plan.

Anticipated Rate of Return *

Lump Sum Required:

Year	Annual Payout	Beginning Balance	Earned Interest	Ending Balance
{{$index+1}}	{{year.withdraw \| currency}}	{{year.beginningBalance \| currency}}	{{year.interest \| currency}}	{{year.endingBalance \| currency}}

The withdrawal shown is based on a 4% rate.

These figures above collectively represents your current income ({{ vm.incomeToday | currency }}) X your desired percent of current income at retirement ({{ vm.incomePercentage }}%) = desired income ({{ vm.incomeRequired | currency }}). Break down the figures: take your current age ({{$rootScope.issueAge}}) - retirement age ({{ $rootScope.retirementAge }}) = years until retirement age ({{ $rootScope.retirementAge - $rootScope.issueAge }}). Then years after retirement ({{vm.yearsAfterRetire}}) X anticipated Inflation rate ({{ vm.annualInflation }}%) X anticipated rate of return ({{vm.averageAnnualYield}}%) = your hypothetical annual payout.

Your Information

Current Age *

At what age do you plan to retire? *

Did you know that your monthly Social Security benefit amount is dependent on your retirement age and the year you were born? For those born between 1943 and 1954, Social Security Retirement Age (SSNRA) is 66. At 66, they can receive 100% of their Social Security benefits. However, if you decide to retire early, your benefits are reduced up to 6.25% per year before retirement age.⁴ For those born between 1943 and 1954, retiring at 62 instead of 66 could mean they may only receive 75% of their Social Security benefit.⁵For those born in 1960 or later, the retirement age is 67, but the same concept applies.

Retirement Savings Goal

How much have you already saved for retirement?

Amount To Reach Goal

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Current Contributions

Retirement Age *

Years Until Retirement

Contribution Frequency

Monthly

Current Monthly Contribution *

Anticipated Rate of Return *

How much do you plan to increase your contributions each year?

Tip: A 1% increase only makes a small difference in your paycheck but may make a big difference down the road.

No contribution amounts were entered.

Select a Current Monthly Contribution amount above or enter
a Current Retirement Savings Balance in the
"Your Information" section.

Total Contributions

Taxable Savings

Tax Deferred Savings

Savings Gained

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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 73 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.

What is 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.

Payout Options

Your potential income payout is based on the following information:

Contribution

Retirement Age

Tax Deferred Savings:

Select the payout that works best for you

Annual Benefit

Monthly Benefit

Lifetime + 10 year fixed period

Lifetime + 20 year fixed period

Lifetime only

10 year fixed period only

20 year fixed period only

30 year fixed period only

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What is Lifetime with Fixed Period?

Beginning on the commencement date (the date of the first payment) the Annuitant will receive a monthly payment for his or her lifetime. If the Annuitant dies before the end of the fixed period selected upon purchase (10 or 20 years), the beneficiary will continue to receive monthly payments until the end of that fixed period. If the Annuitant dies after the end of the fixed period, there is no death benefit.

What is Lifetime Only?

Beginning on the commencement date (the date of the first payment) a monthly payment will be made to the Annuitant for his or her lifetime. Upon the Annuitant's death all payments cease. There is no death benefit.

What is Fixed Period Only?

Beginning on the commencement date (the date of the first payment) the Annuitant will receive a monthly payment for the fixed period selected upon purchase, (10, 20 or 30 years). The Annuitant is not guaranteed a lifetime income. Income is only guaranteed for the fixed period selected at the time of purchase. If the Annuitant dies before the end of the fixed period, the designated beneficiary receives the remaining monthly payments.

Summary

Retirement Goal

Adjust My Plan

Planned Retirement Age

Monthly Contribution

Results

Current Balance

Retirement Goal

Amount To Reach Goal

Projected Savings

* Indicates a required field.