Planning your dream retirement?

Your retirement income can vary widely depending on the type of account that holds your savings and the assumptions you make about returns and tax rates during the accumulation and withdrawal periods.

A 401(k)/IRA calculator helps you estimate how much your retirement savings could grow over time based on your contributions, investment returns, and time horizon. By adjusting inputs such as contribution amounts, retirement age, and expected returns, you can test different scenarios and refine your strategy to assess whether you’re on track to meet your retirement goals and highlight any potential shortfalls.

How Does the 401(k)/IRA Calculator Work?

Step 1: Enter the details about your savings

In this section, you enter your current age and how much you contribute to your 401k/IRA account annually.

Step 2: Enter details about your distributions

Here, you enter the age you wish to retire, how long you foresee your retirement lasting, the before-tax return rate on savings, and the federal marginal tax bracket you fall in at the time of retirement.

Step 3: Enter details about the accumulation section

In this step, you enter the before-tax return you expect your savings/investments to grow at before any taxes are deducted. Next, you enter the federal marginal tax bracket you are in while saving up for retirement.

Step 4: Review your results

Once you have entered all the data, you can click on calculate. The calculator will estimate how much you can withdraw each year in retirement to fund your lifestyle.