Financial Calculators – Retirement

Calculators > Retirement

401(k) Calculator

A 401(k) can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 401(k) are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your 401(k) account. The combined result is a retirement savings plan you cannot afford to pass up.

401(k) Contribution Effects on Your Paycheck Calculator

An employer-sponsored retirement savings account could be one of your best tools for creating a secure retirement. It provides two important advantages:

  • First, all contributions and earnings are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn.
  • Second, many employers provide matching contributions to your account, which can range from 0% to 100% of your contributions.

Use this calculator to see how increasing your contributions to a 401(k) can affect your paycheck as well as your retirement savings. Withholding schedules, rules and rates are from “IRS Publication 15” and “IRS Publication 15T”. This calculator uses the redesigned W-4 created to comply with the elimination of exemptions in the Tax Cuts and Jobs Act (TCJA).By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

401(k) Savings with Profit Sharing

A 401(k) can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 401(k) are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, some employers provide matching contributions to your 401(k) account which can range from 0% to 100% of your contributions. The combined result is a retirement savings plan you can not afford to pass up. By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

401(k) Spend It or Save It Calculator

There are several ways to manage your 401(k) balance when you leave an employer. The most fundamental of which is should you spend it or save it? Depending on your age and tax bracket, making the wrong decision can cost you thousands of dollars both in taxes and lost earnings. This calculator helps illustrate the difference.

403(b) Savings Calculator

403(b) plans are only available for employees of certain non-profit tax-exempt organizations: 501c(3) Corps, including colleges, universities, schools, hospitals, etc. If you are an employee of one of these organizations, a 403(b) can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 403(b) are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide additional contributions to your 403(b). The combined result is a retirement savings plan you cannot afford to pass up.

403(b) Savings Calculator without Employer Match

403(b) plans are only available for employees of certain non-profit tax-exempt organizations: 501c(3) Corps, including colleges, universities, schools, hospitals, etc. If you are an employee of one of these organizations, a 403(b) can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 403(b) are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your 403(b) account which can range from 0% to 100% of your contributions. The combined result is a retirement savings plan you cannot afford to pass up.

457 Plan Contribution Effects on Your Paycheck Calculator

An employer-sponsored retirement savings account could be one of your best tools for creating a secure retirement. Pre-tax contributions are tax-deferred, you only pay taxes on contributions and earnings when the money is withdrawn. After-tax contributions are after-tax and are tax free when the money is withdrawn. Use this calculator to see how increasing your contributions to a 457 plan can affect your paycheck as well as your retirement savings. Withholding schedules, rules and rates are from “IRS Publication 15” and “IRS Publication 15T”. This calculator uses the redesigned W-4 created to comply with the elimination of exemptions in the Tax Cuts and Jobs Act (TCJA).

457 Plan Withdrawal Calculator

Withdrawing money from a qualified retirement account, such as a 457 plan, can create a sizable tax obligation. Use this calculator to see what your net withdrawal would be after taxes are taken into account.

457 Plan: Roth vs. Pre-tax Calculator

A 457 plan contribution can be an effective retirement tool. The Roth 457 plan allows you to contribute to your 457 account on an after-tax basis – and pay no taxes on qualifying distributions when the money is withdrawn. For some investors, this could prove to be a better option than contributing on a pre-tax basis, where deposits are subject to taxes when the money is withdrawn. Use this calculator to help determine the best option for your retirement.

457 Savings Calculator

A 457 can be one of your best tools for creating a secure retirement. It provides you with two important advantages. First, all contributions and earnings to your 457 are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your 457 account which can range from 0% to 100% of your contributions. The combined result is a retirement savings plan you can not afford to pass up.

72(t) Calculator

The Internal Revenue Code section 72(t) and 72(q) can allow for penalty free early withdrawals from retirement accounts under certain circumstances. These sections can allow you to begin receiving money from your retirement accounts before you turn age 59-1/2 generally without the normal 10% premature distribution penalty. Use this calculator to determine your allowable 72(t)/(q) Distribution and how it maybe able to help fund your early retirement. The IRS rules regarding 72(t)/(q) Distributions are complex. Please consult a qualified professional when making decisions about your personal finances. Please note that your financial institution may or may not support all the methods displayed via this calculator.

72(t) Distribution Impact

The Internal Revenue Code section 72(t) and 72(q) can allow for penalty free early withdrawals from retirement accounts under certain circumstances. The IRS limits how much can be withdrawn by assuming any future earnings will be at most 120% of the Federal Mid-Term. This conservative approach can help assure that you will not prematurely deplete your retirement account. However, if you have a higher rate of return your account can actually grow, even with your distributions. On the other hand, if you suffer losses your account balance may end up shrinking faster than you might expect. This calculator is designed to examine the effects of 72(t)/(q) distributions on your retirement plan balance. The IRS rules regarding 72(t)/(q) Distributions are complex. Please consult a qualified professional when making decisions about your personal finances. Please note that your financial institution may or may not support all the methods displayed via this calculator.

72(t) Distributions – Substantially Equal Periodic Payments

The IRS Rule 72T allows for penalty free, early withdrawals from retirement accounts. This calculator provides an advanced analysis of the 72(t) exception to the 10% federal penalty tax for withdrawals before age 59 1/2 from an IRA, Qualified Retirement Plan (QRP) or non-pension annuity. This projection is not representative of any specific product or investment. By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Beneficiary Required Minimum Distributions (RMD)

When you are the beneficiary of a retirement plan, specific IRS rules regulate the minimum withdrawals you must take. If you want to simply take your inherited money right now and pay taxes, you can. But if you want to defer taxes as long as possible, there are certain distribution requirements with which you must comply. Use this calculator to determine your Required Minimum Distributions (RMD) as a beneficiary of a retirement account. This calculator has been updated for the ‘SECURE Act of 2019 and CARES Act of 2020’.

Beneficiary Required Minimum Distributions (RMD) – Eligible Designated Beneficiary

When you are the beneficiary of a retirement plan, specific IRS rules regulate the minimum withdrawals you must take. Use this calculator to determine your Required Minimum Distribution (RMD) if the original account owner died before 1/1/2020 or for non-spouse Eligible Designated Beneficiaries (generally this only applies to chronically ill individuals and non-adult children). This calculator has been updated for the ‘SECURE Act of 2019 and CARES Act of 2020’.

Beneficiary Required Minimum Distributions (RMD) – Spouse Inherited IRA

The IRS Code provides special rules that apply when original account owner’s beneficiary is his/her spouse. The spouse beneficiary may elect to treat the inherited account as his/her own and Required Minimum Distributions (RMD) do not have be begin until the spouse beneficiary is age 72 (or 70 1/2 if born before 7/1/1949). The spouse beneficiary can also elect to not treat the inherited account as his/her own. Use this calculator to determine the Required Minimum Distributions (RMD) as a spouse beneficiary electing not to treat the inherited qualified retirement account as his/her own. This calculator only applies to the first-generation beneficiary not a second-generation beneficiary. In the event of the first beneficiary’s death, the second beneficiary should contact their own tax advisor for information on the appropriate RMD calculation. This calculator has been updated for the ‘SECURE Act of 2019 and CARES Act of 2020’.

Company Stock Distribution Analysis Calculator

If you own company stock in a retirement plan, you may be able to take advantage of the long term capital gains tax rate rather than your ordinary income tax rate on this investment. Normally, all earnings withdrawn from a retirement plan are taxed as ordinary income, at ordinary income tax rates. However, if you take an in-kind distribution of your employer’s company stock from your retirement plan to a taxable investment account, you may be able to take advantage of a special set of rules that allow you to pay only capital gains taxes on a significant portion of the distribution. Use this calculator to see how such a distribution might benefit your retirement nest egg.

How Important Is Social Security?

How will losing your Social Security benefits affect your retirement? Use this calculator to determine how losing this important retirement asset could affect you. Click the report button to see your retirement savings with and without Social Security benefits. By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

How long will my retirement savings last?

Use this calculator to see how long your retirement savings will last. This is based on your retirement savings and your inflation adjusted withdrawals.

Individual 401(k) Contribution Comparison

Self-employed individuals and businesses employing only the owner, partners and spouses have several options for tax-advantaged savings: an Individual 401(k) plan, a SEP IRA, a SIMPLE IRA, or a Profit Sharing plan. Each option has distinct features and amounts that can be contributed to the plan each year. Use the Individual 401(k) Contribution Comparison to estimate the potential contribution that can be made to an Individual 401(k) compared to Profit Sharing, SIMPLE, or SEP plan.

Individual 401(k) Savings Calculator

An Individual 401(k) can be one of the best tools for the self-employed to create a secure retirement. First, all contributions and earnings to your Individual 401(k) are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, it has very high contribution limits – allowing you to contribute more to your Individual 401(k) each year. The combined result is a retirement savings plan you can’t afford to pass up.

IRA Spend It or Save It Calculator

Spending your IRA before you retire can be a costly decision. Depending on your age and tax bracket, spending your IRA can cost you thousands of dollars both in taxes and lost earnings. This calculator helps illustrate the difference between spending your IRA now, and saving it for retirement.

Pension Plan Retirement Options

Choosing between pension options can be a difficult task. Choosing an option that guarantees your spouse pension benefits after your death means extra security but also lower monthly benefits. On the other hand, choosing a pension option that only pays through your lifetime can provide larger monthly payments, but requires a lump sum to protect your spouse if she outlives you. Use this calculator to help decide which pension option works best for your particular retirement needs.

Pension vs. Lump Sum Payout Calculator

Use this calculator to compare the results of getting a lump sum payout instead of a guaranteed monthly pension for life. Find out what the required annual rate of return required would be for your pension plan options. Choose from pensions that are for a single life, Joint and survivor or a life with 10 years certain.

Required Minimum Distribution (RMD)

Use this calculator to determine your Required Minimum Distribution (RMD). The IRS requires that you withdraw at least a minimum amount – known as a Required Minimum Distribution – from some types of retirement accounts annually. The distributions are required to start when you turn age 72 (or 70 1/2 if you were born before 7/1/1949). This calculator has been updated for the ‘SECURE Act of 2019 and CARES Act of 2020’.

Required Minimum Distribution (RMD) – Current Year

The IRS requires that you withdraw at least a minimum amount – known as a Required Minimum Distribution – from some types of retirement accounts annually, starting the year you turn age 72 (or 70 1/2 if you were born before 7/1/1949). Determining how much you are required to withdraw is an important issue in retirement planning. Use this calculator to determine your Required Minimum Distributions. This calculator has been updated for the ‘SECURE Act of 2019 and CARES Act of 2020’.

Required Minimum Distribution (RMD) – Future Projection

The IRS requires that you withdraw at least a minimum amount – known as a Required Minimum Distribution – from your retirement accounts annually; starting the year you turn age 72 (or 70 1/2 if born before 7/1/1949). Determining how much you are required to withdraw is an important issue in retirement planning. Use this calculator to create a hypothetical projection of your future Required Minimum Distributions (RMD). This calculator has been updated for the ‘SECURE Act of 2019 and CARES Act of 2020’.

Required Minimum Distribution (RMD) – with Stretch Projection

The IRS requires that you withdraw at least a minimum amount – known as a Required Minimum Distribution – from your retirement accounts annually; starting the year you turn age 72 (or 70 1/2 if born before 7/1/1949). However, with proper planning, you can stretch these distributions beyond your lifetime. Use this calculator to create a projection for Required Minimum Distributions (RMD) of a qualified retirement account. This calculator has been updated for the ‘SECURE Act of 2019 and CARES Act of 2020’.

Retirement Account Contribution Accelerator

A retirement savings program can be one of the best tools you can use for creating a secure retirement. One of the valuable features of many plans is the Contribution Accelerator option which allows you to increase your contributions consistently and automatically each year. With this feature you don’t have to remember to increase your contributions; Contribution Accelerator does it for you, allowing you to build your account balance faster. This calculator helps you project what your savings could be if you were to automatically increase your payroll savings each year using Contribution Accelerator (or manually increasing your contributions each year if you don’t have the Contribution Accelerator feature).

Retirement Contribution Effects on Your Paycheck Calculator

An employer-sponsored retirement savings account could be one of your best tools for creating a secure retirement. It provides two important advantages. First, all contributions and earnings are tax-deferred. You only pay taxes on contributions and earnings when the money is withdrawn. Second, many employers provide matching contributions to your account, which can range from 0% to 100% of your contributions. Use this calculator to see how increasing your contributions to a 401(k), 403(b) or 457 plan can affect your paycheck as well as your retirement savings. Withholding schedules, rules and rates are from “IRS Publication 15” and “IRS Publication 15T”. This calculator uses the redesigned W-4 created to comply with the elimination of exemptions in the Tax Cuts and Jobs Act (TCJA).

Retirement Income Calculator

Use this calculator to determine how much monthly income your retirement savings may provide you in your retirement. Your annual savings, expected rate of return and your current age all have an impact on your retirement’s monthly income. View the full report to see a year-by-year break down of your retirement savings.

Retirement Nest Egg Calculator

Do you know how much it takes to create a secure retirement? Use this calculator to help determine what size your retirement nest egg should be.

Retirement Pension Planner Calculator

Do you know what it takes to work towards a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social Security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your Social Security benefits up to, but not over, the maximum.

Retirement Plan Withdrawal Calculator

Withdrawing money from a qualified retirement plan, such as a Traditional IRA, 401(k) or 403(b) plans, among others, can create a sizable tax obligation. If you are under 59 1/2 you may also be subject to a 10% early withdrawal penalty. Use this calculator to see what your net withdrawal would be after taxes and penalties are taken into account.

Retirement Planner Calculator

Do you know what it takes to work towards a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social Security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your Social Security benefits up to, but not over, the maximum.

Retirement Planner for Two Working Spouses

Do you know what it takes to work towards a secure retirement? Use this calculator to help you create your retirement plan if you have two working spouses in your household. View your retirement savings balance and your withdrawals for each year until the end of your retirement.

Retirement Planner with Retirement Earnings Calculator

Do you know what it takes to work towards a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your Social Security benefits up to, but not over, the maximum. By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

Retirement Planner with Taxes for a Deferred Retirement Savings Plan

Do you know what it takes to work towards a secure retirement? Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your Social Security benefits up to, but not over, the maximum.

Retirement Shortfall Calculator

One of the biggest risks to a comfortable retirement is running out of money too soon. This calculator helps you determine your projected shortfall or surplus at retirement. You can also see just how long your current retirement savings will last. If your results project a shortfall, you might need to save more, earn a better rate of return, or possibly delay your retirement.

RMD & Stretch IRA Calculator

The IRS requires that you withdraw at least a minimum amount – known as a Required Minimum Distribution – from your retirement accounts annually; starting the year you turn age 72 (or 70 1/2 if born before 7/1/1949). Use this calculator to help determine how you can stretch out your payments for as long as possible. This calculator has been updated for the ‘SECURE Act of 2019 and CARES Act of 2020’.

Roth (after-tax) Account or Pre-Tax Account?

Use this calculator to help determine which type of retirement account may be the best option for your retirement.

Roth 401(k) Conversion Calculator

With the passage of the ‘American Tax Relief Act’, any 401(k) plan that allows for Roth contributions will now be eligible to convert existing pre-tax 401(k) balances to an after-tax Roth 401(k). Previously an employer-sponsored plan [401(a)/(k), 403(b) and governmental 457(b)] could only be converted to a Roth IRA. The Roth 401(k) conversion amount would be taxable in the year of conversion, but all gains (or growth) would be distributed completely tax-free at retirement. Is this a good option for you? A conversion has both advantages and disadvantages that should be carefully considered before you make a decision. This calculator compares two alternatives with equal out of pocket costs to estimate the change in total net-worth, at retirement, if you convert your per-tax 401(k) into an after-tax Roth 401(k).

Roth 401(k) vs. Traditional 401(k) Calculator

A 401(k) contribution can be an effective retirement tool. As of January 2006, there is a new type of 401(k) – the Roth 401(k). The Roth 401(k) allows you to contribute to your 401(k) account on an after-tax basis – and pay no taxes on qualifying distributions when the money is withdrawn. For some investors, this could prove to be a better option than contributing on a pre-tax basis, where deposits are subject to taxes when the money is withdrawn. Use this calculator to help determine the best option for your retirement.

Roth 403(b) vs. Traditional 403(b) Calculator

A 403(b) contribution can be an effective retirement tool. As of January 2006, there is a new type of 403(b) – the Roth 403(b). The Roth 403(b) allows you to contribute to your 403(b) account on an after-tax basis – and pay no taxes on qualifying distributions when the money is withdrawn. For some investors, this could prove to be a better option than contributing on a pre-tax basis, where deposits are subject to taxes when the money is withdrawn. Use this calculator to help determine the best option for your retirement.

Roth Contributions Within Your Retirement Plan

Most retirement plans offer traditional contributions, which are made on a before-tax basis. Taxes are due on these contributions, and any earnings, when the money is withdrawn. Many plans are now offering Roth contributions as well. Roth contributions allow you to contribute to your retirement account on an after-tax basis. An advantage of this type of contribution is that you pay no taxes on the contributions – and any earnings – for qualifying distributions. Use this calculator to help compare how each type of contribution might affect your paycheck and your taxable situation at retirement.

Roth IRA Calculator

Creating a Roth IRA can make a big difference in your retirement savings. There is no tax deduction for contributions made to a Roth IRA, however, all future earnings are sheltered from taxes, under current tax laws. The Roth IRA can provide truly tax-free growth.

Roth IRA Conversion Calculator

In 1997, the Roth IRA was introduced. This new IRA allowed for contributions to be made on an after-tax basis and all gains (or growth) to be distributed completely tax-free. Since then, people with incomes under $100,000 have had the option to convert all or a portion of their existing Traditional IRAs to Roth IRAs. Beginning in 2008, participants with funds in eligible employer-sponsored plans could also roll those funds directly over to a Roth IRA in a qualified rollover if their income did not exceed the $100,000 threshold. Starting in 2010, all IRA owners and participants in eligible employer-sponsored plans, regardless of income level, are eligible to convert their Traditional IRA and pre-tax funds in an employer-sponsored plan [401(a)/(k), 403(b) and governmental 457(b)] to a Roth IRA. Is this a good option for you? A conversion has both advantages and disadvantages that should be carefully considered before you make a decision. This calculator compares two alternatives with equal out of pocket costs to estimate the change in total net-worth, at retirement, if you convert your Traditional IRA into a Roth IRA.

Roth IRA Conversion with Distributions Calculator

In 1997, the Roth IRA was introduced. This new type of IRA allowed for all gains (or growth) to be distributed completely tax-free provided certain requirements are met. Since then, people with incomes under $100,000 have had the option to convert all or a portion of their existing traditional IRAs to Roth IRAs. Starting in 2010, all IRA owners, regardless of income level, are eligible to convert their traditional IRA to a Roth. The conversion requires payment of income taxes on the amount converted. In this is payable with your income tax return for the year of conversion.

Is this a good option for you? A conversion has both advantages and disadvantages that should be carefully considered before you make a decision. This calculator estimates the change in total net-worth, at retirement, if you convert your traditional IRA into a Roth IRA. This calculator has been updated for the ‘SECURE Act of 2019 and CARES Act of 2020’.

Roth IRA vs. Traditional IRA Calculator

An IRA can be an effective retirement tool. There are two basic types of Individual Retirement Accounts (IRA): the Roth IRA and the traditional IRA. Use this tool to determine which IRA may be right for you. Please note, that this calculator should not be used for Roth 401(k) comparisons.

Roth vs. Traditional 401(k) and your Paycheck

A 401(k) can be an effective retirement tool. As of January 2006, there is a new type of 401(k) contribution. Roth 401(k) contributions allow you to contribute to your 401(k) account on an after-tax basis and pay no taxes on qualifying distributions when the money is withdrawn. For some investors, this could prove to be a better option than the Traditional 401(k) contributions, where deposits are made on a pre-tax basis but are subject to taxes when the money is withdrawn. Use this calculator to help determine the option that could work for you and how it might affect your paycheck.

Should you borrow from a 401(k) or 403(b)?

The majority of 401(k) plans and a growing number of 403(b) plans let you borrow money from your account. A typical plan would allow you to borrow up to 50% of your balance, but not more than $50,000. Use this calculator to help you determine if you should borrow from your account and the potential impact on your retirement savings.

Social Security Benefit Calculator

Do you wonder how much you might receive in Social Security? Use this calculator to help you estimate your Social Security benefits. Remember, this is only an estimate. Your actual benefits may vary depending on your actual work history and income.

Traditional IRA Calculator

Contributing to a traditional IRA can create a current tax deduction, plus it provides for tax-deferred growth. While long-term savings in a Roth IRA may produce better after-tax returns, a traditional IRA may be an excellent alternative if you qualify for the tax deduction.

How Will Retirement Impact My Living Expenses?

Your living expenses may increase or decrease at retirement but will likely not stay the same. You may travel more, reduce business expenses such as eating out and transportation costs, perhaps your house will be paid off. 

How Much Will I Need To Save For Retirement?

Retirement can be the saddest or happiest day of your life. This pre-retirement calculator will help you determine how well you have prepared and what you can do to improve your retirement outlook. It is important that you re-evaluate your preparedness on an ongoing basis. 

Are My Current Retirement Savings Sufficient?

One method of retirement planning is to project what you are currently saving and have accumulated to date and see if you will have enough to meet your retirement objectives.

Social Security Retirement Income Estimator

Depending upon your current earnings, Social Security can be a significant part of your retirement income. However, many factors will impact the benefit you may receive. Use this calculator to approximate your Social Security benefit. 

How Does Inflation Impact My Retirement Income Needs?

It may surprise you how the much inflation can erode purchasing power. 

When Should I Begin Saving For Retirement?

A penny saved is a penny earned, but a penny saved today is a penny potentially earning more. 

Should I Convert Discretionary Expenses To Savings?

It may surprise you how much you can accumulate for retirement simply by foregoing a few luxuries such as a one-time purchase of a boat or cabin, or trimming back recurring monthly expenses such as eating out, movies, magazine subscriptions, cable tv programming, video rentals, vending machines, etc. 

How Much Retirement Income May My 401(k) Provide?

It may surprise you how significant your retirement accumulation may become simply by saving a small percentage of your salary each month in your 401(k) plan.