Use this calculator to figure your annual payout in retirement—adjusted for inflation.
Will you have enough money each year to pay for the retirement lifestyle you want? The National Endowment for Financial Education (NEFE), Greenwood Village, Colo., recommends you ask yourself these questions:
- How much money do I have for retirement?
- How much money will I need to pay bills in retirement?
- Do I want to travel?
- What’s the cost of living where I plan to live?
- Will I have my mortgage paid off?
- How much should I budget for medical expenses and/or insurance?
- What debts can I pay off before retiring?
As you factor in all the variables, remember that you’ll probably be paying tax on your withdrawals (except for withdrawals from Roth IRAs).
By planning and investing now, you can be on the road to building that nest egg you’ll need. Talk to a financial planner or the professionals at your credit union for further information about building and using your retirement savings.
NOTE: Print your results for reference; you won't be able to save data.
Provision of this calculator is not an offer of credit. Its use in no way guarantees that credit will be granted. This calculator is solely for informational purposes and provides reasonably accurate estimates; the calculations are not intended to be relied upon as actual yield computations.