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A title for these calculator
results that will help you identify it if you have printed out several
versions of the calculator.
The age you are today.
The age you will be at retirement.
Your household income. 'Average
Salary Increase', 'Retirement Contribution', and 'Expected Retired
Living Expenses' will be calculated using this amount so include only
steady income that figures into your retirement.
The average percentage you expect your 'Household Income' to increase each year.
The percentage of 'Household Income' that you contribute to your retirement savings or investments.
The current balance of your retirement savings or investments.
The average percentage
you expect your 'Retirement Savings' to gain in interest or increased
value (not including 'Retirement Contributions') each year BEFORE you
retire at which time it is likely you will move to a more conservative
growth plan.
The average
percentage you expect your 'Retirement Savings' to gain in interest or
increased value (not including 'Retirement Contributions') each year
AFTER you retire and have set your retirement portfolio to a more
conservative growth plan than before retirement.
The age at which you plan to begin receiving monthly Social Security benefits.
The amount your annual Social
Security statement shows you will receive if you begin receiving
benefits at 'Social Security Age'. This amount will be adjusted for
inflation each year.
The average inflation rate
which will be used when calculating 'Expected Social Security Income'
and 'Expected Retired Living Expenses' to represent those numbers in
future dollars.
The percentage of
your 'Household Income' you expect to need during retirement. This
amount will be adjusted for inflation each year.
The year your
retirement funds may run out. 'Never' is good. That means your
retirement investment should make more in interest and returns than you
draw for living expenses.
Your age when your retirement funds may run out. 'N/A' means your retirement funds should never be run out.
When checked, a section will appear below the calculator showing the complete amortization table.