Improve quality of life after retirement
Arguments used in Improve quality of life after retirement calculator
- Projections - your guesses at the level of inflation and the annual return you will earn on your investments
- Draw-down Rate - 3.5% - 5% - withdrawing from the account at a rate lower than the projected investment gain, the principal amount will grow over the years
- Retirement Savings section contains fields for the current balance in your retirement accounts and the monthly contributions made by you and by your employer
Outputs
- Required annual income at retirement
- Required monthly income at retirement
- Covered by SS and pension? The amount of your monthly income that your Social Security and pension will cover
- To come from savings? The amount of your required monthly retirement income that must come from your savings
- Savings balance at retirement? The total amount you will have saved when you retire
- Monthly income from savings - output value is the calculated amount you can expect to receive per month from your savings based on the draw-down rate
- Excess (shortfall) -amount your projected income exceed or falls short of your projected required income.