OkCalculator is expert in formulating apposite pension plans. This specially designed calculator will tell you the amount of dollar you will receive when you retire, the time by which your retirement savings will run out, the amount of retirement expenditure per year, and other information required to plan your retirement savings. The findings are also adjusted for your marital status and Social Security benefit.
Want this nice calculator on your page? Just copy the code from a box below
Want to design your own calculator?
to gain access.
Your age during the calculation.
Age of retirement
Your planned age of retirement from work. It is assumed that, you make contributions at the end of each year and you will not contribute to the retirement savings during the retirement year.
The amount of total household income. You should add your spouse’s income if you are married.
Current retirement savings
Amount of money you have already saved for retirement through IRAs, 401(k)s, annuities and other retirement plans.
Rate of return before retirement
Rate of return you receive from your investments before your retirement.
Rate of return during retirement
The yearly expected rate of return from your chosen investment plan from the time you retire. leave this field if you have panned to withhold the fund immediately after your retirement.
Percent of income to contribute
Portion of your yearly income you wish to contribute to all the retirement savings accounts. This calculator will by default consider that your contributions are made at the end of each year.
Expected income increase
Percentage by which you expect your income will increase during the years.
Years of retirement income
Total number of years you wish to utilize your retirement income after your retirement.
Percent of income at retirement
Portion of the after-tax income you think you will require at the time of retirement. This percent is applied on the annual earnings of the preceding year of your retirement.
Expected rate of inflation
Your expected rate of average increase in the price level over the long-term.
If you have spouse, check this box. In U.S. you can have a higher maximum amount of Social Security benefit if you are married.
Include Social Security checkbox
Checking this box will allow you to adjust your current retirement plan including the Social Security benefit you are eligible for. OkCalculator uses income limit specified by FICA to calculate the Social Security benefit. Anyways, if you are married, this benefit will be 1.5 times more. At the end, the actual benefit you will receive depends on the compensation rule and your working history.
Company pension monthly income
Amount of money you expect to receive monthly from your company as pension. This amount will not be adjusted for income tax and inflation by this calculator.
Spouse pension monthly income
Amount of pension your spouse will receive at the time of retirement. This calculator will not take income tax and inflation into consideration for pension incomes.