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Introducing Bankrate's new retirement calculators

Tools for success: Whether you are self-employed or working for the government, a nonprofit or a corporation, you can use these calculators to project your future savings by inputting a few numbers. If you're not happy with the results, you can make adjustments in your contributions or expected returns to reach your goals successfully.

These calculators cover all the bases, showing how much retirement contributions will affect your paycheck, predicting how long your savings will last (with or without Social Security), revealing how much you must withdraw from a plan at age 70 and much, much more. Check them out. Take your time. Have fun.

Retirement calculators
401(k) savings calculator
Use: Helps company employees project their future retirement nest eggs
This calculator enables investors to project their future nest eggs based on current age, the percentage of income they are contributing, the amount of savings they have thus far, expected salary increases, age of expected retirement and projected rate of return. The graph illustrates how much a company match will contribute to retirement savings.
401(k) savings with profit sharing
Use: Helps workers in a profit-sharing plan project their future retirement nest eggs
This calculator is for employees who contribute to a 401(k) plan with a profit-sharing component. An employer's contribution to a profit-sharing plan can be purely discretionary or can be based on a formula. This calculator enables workers to project their future retirement savings using the same variables as for the 401(k) savings calculator, described above.
403(b) savings calculator
Use: Helps teachers and workers at nonprofit companies project their future retirement nest eggs
This calculator is for employees of tax-exempt organizations and certain public schools, who rarely get a company match. The variables used are the same as for the 401(k) savings calculator, with an added feature for looking at investment fees and their impact on future savings.
457 savings calculator
Use: Helps government workers project their future retirement nest eggs
This calculator is for government employees who have access to 457 plans, which work much the same as 401(k) plans but with a few different rules. The calculator's features are the same as those of the 401(k) savings calculator.
72(t) calculator: Early withdrawals from retirement accounts
Use: Helps early retirees avoid paying penalty fees when withdrawing funds from retirement plans
IRS Code Section 72(t) provides for penalty-free withdrawals from retirement accounts prior to age 59 as long as these withdrawals are part of a series of substantially equal periodic payments. This calculator enables people contemplating early retirement to calculate the minimum and maximum amounts they could withdraw on an annual basis to avoid the penalty. Variables include account balance, age, age of beneficiary and a reasonable interest rate, defined as no more than 120 percent of the federal midterm rate.
72(t) distributions: Impact on retirement fund balances
Use: Helps those taking early distributions see the impact on retirement balances
As a complement to the preceding calculator, this calculator enables early retirees to see how their early distributions will affect their retirement plan balances over time. Variables include account balance, distribution rate, projected earnings and distributions taken after five years or age 59½.
Beneficiary required minimum distribution
Use: Helps beneficiaries determine how much they must withdraw each year from an inherited retirement plan.
The tax consequences are severe for beneficiaries taking lump sum distributions. This calculator enables them to see the benefits of stretching distributions over their lifetimes.
IRA required minimum distribution
Use: Helps retirees calculate withdrawals they are required to take
Most tax-deferred retirement plans require that retirees begin taking distributions by age 70. This calculator helps retirees figure out the minimum amount they must withdraw beginning at that age. The graphic illustration shows the growth of those distributions over time, assuming varying rates of return.
Required minimum distribution
Use: Also helps retirees calculate withdrawals they are required to take
A complement to the previous calculator, this one also helps retirees calculate required minimum distributions. The graphic illustration focuses on the current year's required minimum distribution rather than future withdrawal amounts.
Retirement income calculator
Use: Determines the monthly income your savings will generate in retirement
This calculator takes into account current account balance, annual contributions to the plan, expected rate of return before and after retirement, current age and future retirement age, and current and future tax rates to come up with a monthly income amount, both before and after 3.1 percent inflation. Click on an alternate graphics option to see your total account balance at retirement age.
Retirement planner
Use: This calculator projects how long your retirement savings will last.
Plug in your current savings, annual contributions, expected raises, rate of return before and after retirement, expected inflation rate, current household income, and the percentage of income you will need at retirement to determine how long your money will last. The graphic illustration shows that amounts vary if you are married, and if you take Social Security into consideration.
Retirement pension planner
Use: This calculator looks at tax-deferred savings and how long they will last.
This calculator complements the one above, but adds current marginal tax rate and the tax rate expected in retirement to the equation. The graphic illustration shows that amounts vary if you are married, if you take Social Security into consideration and if your savings are tax-deferred.
Retirement contribution effects on your paycheck
Use: This calculator lets you see how varying contribution levels affect your paycheck.
Use this calculator to see how increasing your contributions to a tax-deferred retirement plan can affect your paycheck as well as your future retirement savings. It takes into consideration your pretax deductions, post-tax reimbursements, withdrawal allowances and other data that you'll find on your pay stub. You may be surprised to see that the difference between contributing 6 percent and 12 percent to a plan may not affect your take-home pay much, but will affect your retirement savings enormously.
Retirement shortfall calculator
Use: Helps you quickly determine your shortfall or surplus at retirement
Change the variables, such as your monthly contributions, your projected earnings rate before and after retirement, and your age at retirement to get an instant snapshot of whether you'll come out ahead or behind. The graphic illustration shows how long your savings will last, taking inflation in or out of the equation.
Individual 401(k) savings calculator
Use: Helps the self-employed project their retirement savings
Alternately called Solo 401(k), self-employed 401(k) and individual 401(k), these plans enable those who are in business for themselves to contribute more money for their retirement than the traditional 401(k). The calculator tells you what that maximum contribution level is based on your income and age. The graphic illustration shows how much your account can grow by retirement age.




Compare Rates
NATIONAL OVERNIGHT AVERAGES
IRA MMA 0.49%
1 yr IRA CD 0.74%
5 yr IRA CD 1.73%

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