Do you want to be economically protected after your retirement? Use this calculator to formulate the most effective retirement plan for a secured future. Utilizing your current age, age of retirement, annual household income, contribution to retirement savings, current savings, expected increase in income, expected rate of return before and during retirement, and social security; this calculator will show you the dollar amount you can receive when you retire. Your marital status and social security benefits are also combined to present a more effectual report.
Want this nice calculator on your page? Just copy the code from a box below
Want to design your own calculator?
to gain access.
Age of retirement
Age when you wish to retire 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
The yearly rate of earnings from the investments up to the retirement.
Rate of return during retirement
Rate of return you receives from your chosen investment plan from the time your retirement phase begin. If you want to withhold your invested money exactly when you retire than this field should be left empty.
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 to be inflated every year.
Years of retirement income
The number of years you wish to utilize your retirement income after you retire.
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 inflation over the long-term. It’s possible to use the Consumer Price Index (CPI) to estimate the future rate of inflation.
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.