Retirement Income Calculator
Illustration Example Calculator:
Generating Income in Retirement
Being able to retire one day & live off of your portfolio income is the goal for many. The Government has developed several accounts that can help people today do just that. These accounts are 401ks, TSPs, & IRAs just to name a few. These accounts invest into investments such as Stocks, Mutual Funds & ETFs. The great thing about investing into such investments, that typically overtime if you give it enough time, your money can grow exponentially. The important part is to continually invest as much as you can as early as you can. Because ivnesting into such investments take time to truly grow & takes time for the true Compound Interest to kick in.
The calculator above was developed to help you quickly get a ball park number for how much your monthly contributions could grow to over time. Inputting your starting age, retirement age, expected compounded annual growth rate & your estimate portfolio income yield will get you started. There's also an option to estimate what your income tax rate might be if these particular investments will be subjected to taxes in the future.
Disclaimer
However, this calculator does not include fees that you may incur when using these investment vehicles, investments within them. This calculator also does not include the fact that inflation is very high right now and has the potential to remain high in the future years. So, to get a better idea include those two things be sure to reach out to your professional financial advisor for more help! We are not financial advisors or professionals investing into the Stock Market is not FDIC insured & can result in loss, please be sure to understand your risk at all times before investing. 👍
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