| Insurance Calculators
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How much life
insurance do I need?
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Planning to meet the financial needs of your survivors is one of the
most important and fundamental steps in creating a sound financial plan
for you and your family. This step usually requires the purchase of a
life insurance policy to ensure that your family's needs will continue
to be met, even after your untimely death cuts your earnings potential
short.
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What are my needs
for burial and final expenses?
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Long gone are the days of being buried in a pinewood box. Funeral
expenses can vary from several thousand dollars up to $15,000 and more
depending on which services you select. Funeral homes and crematoriums
provide a list of expenses some of which have been enumerated here. Use
this calculator as a guideline to help estimate your burial and final
expenses.
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How much disability
income insurance do I need?
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Your chances of becoming disabled are far greater than your chances of
dying. It may surprise you that one out of three individuals will
suffer a disabilty that lasts at least 90 days. One out of ten will be
permanently disabled prior to age 65.
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What are my
long-term care insurance needs?
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There are basically three ways to fund your long-term care needs:
self-insure, qualify for Medicaid, or obtain long-term care insurance.
Use this calculator to determine your potential long-term care needs
and how long your current assets might last.
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What are the
chances of becoming disabled?
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It may surprise you that 33.7 million non-institutionalized Americans
(or 12.2 percent of the population) experience limitations in usual
activities due to chronic conditions.* Use this calculator to determine
your chances of becoming disabled.
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How much will I
earn in my lifetime?
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Most people earn a small fortune during their lifetime. Yet many of
them are unaware of how their annual income adds up over the years.
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What are the tax
advantages of an annuity?
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Deposits into an annuity are not tax-deductible, however you don't have
to pay taxes on the interest earned until you begin making withdrawals.
This tax-deferral period can have a dramatic affect on the growth of an
investment. Use this calculator to compare the tax advantages of saving
in an annuity versus an account where the interest is taxed each year
such as a CD.
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How long will my
current life insurance proceeds last?
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You may think that you are adequately insured in the event of your
death. It may surprise how quickly the tax-free insurance proceeds may
be depleted by your survivor income needs.
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What is the future
value of an annuity?
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Unlike a taxable account, a fixed annuity enjoys the benefits of tax
deferral. In addition, many annuity companies offer a higher first year
bonus rate. To be able to offer these higher rates companies typically
require you to keep the funds invested for a period of time or suffer a
surrender penalty for early withdrawal. Use this calculator to help
determine your annuity value in a given year and compare it to a
taxable savings account like a CD.
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Which Is Better,
Comprehensive Plan Or High-Deductible Plan With HSA?
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Health Savings Accounts (HSAs) were created by the Medicare bill signed
by President Bush on December 8, 2003. HSAs are a form of medical
savings account that must be accompanied by a high-deductible health
insurance plan. HSAs allow individuals/employers to set aside money on
a pre-tax or tax-deductible basis and then withdraw the money tax-free
to pay qualifying medical expenses. Use this calculator to help compare
a traditional, low-deductible health plan to a high-deductible health
plan accompanied by an HSA to cover out-of-pocket expenses.
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Retirement Calculators
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How will retirement
impact my living expenses?
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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. Use this calculator to help compare living expenses now from
the day you retire. This will also will help you to plan your saving
requirements for the day you retire.
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How much will I
need to save for retirement?
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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.
Changes in economic climate, inflation, achievable returns, and in your
personal situation will impact your plan.
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Are my current
retirement savings sufficient?
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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. Use this calculator to determine
when/if the money will run out during retirement and it will recommend
additional savings if required.
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Social Security
retirement income estimator
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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. For a more accurate estimate, taking into
account your earnings history, contact the Social Security
Administration at 1-800-772-1213 or visit www.ssa.gov.
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How does inflation
impact my retirement income needs?
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It may surprise you how fast inflation can erode purchasing power. Use
this calculator to estimate how much more income you will need at
retirement to keep your same standard of living that you have today.
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I'm retired, how
long will my savings last?
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Due to increasing life expectancies, many are running into the problem
of outlasting their savings. Use this calculator to help determine when
your retirement savings account may be depleted given a specified
monthly income target. You may currently be in receipt of a company
pension or other fixed income such as Social Security to help
supplement your retirement savings account.
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When should I begin
saving for retirement?
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A penny saved is a penny earned, but a penny saved today is a penny
earning more. Use this calculator to determine how much more you could
accumulate at retirement by beginning your savings plan today rather
than waiting.
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Should I convert
discretionary expenses to savings?
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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. Use this calculator to determine how much you
could accumulate for retirement by saving instead of spending.
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How much retirement
income may my 401(k) provide?
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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. Further, it may be useful to estimate your future
monthly income generated by these savings and what that means in
today's dollars.
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Compare a Roth
401(k) to a Traditional 401(K)
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Your retirement income can vary widely depending on what type of
account holds your savings and what assumptions you make about return
and tax rates during the accumulation and withdrawal periods. Use this
calculator to help compare employee contributions to the new after-tax
Roth 401(k) and the current tax-deductible 401(k).
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| Taxation Calculators
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What is my
potential estate tax liability?
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Federal estate tax rates go as high as 45% on taxable estates in years
2007-2009. This means that the federal government could 'inherit' a
significant portion of your estate unless you take measures to preserve
your wealth. Use this calculator to estimate your federal estate tax
liability.
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Federal Income Tax
estimator
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As they say there is nothing more certain than death and taxes.
Unfortunately, without planning the annual tax liability can be very
uncertain. Use the following calculator to help determine your
estimated tax liability along with your average and marginal tax rates.
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Should I adjust my
payroll withholdings?
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Each April many taxpayers are surprised as they realize that they have
either over withheld or under withheld on their taxes. Use this
calculator each year to help determine whether you are likely to be on
target based on your current withholding status. Make adjustments to
your employer W-4 form, if necessary, to more closely match your
liability. In the event of a surplus, you may be able to increase your
take home pay.
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Will my investment
interest be deductible?
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Interest paid on debts incurred in order to invest (such as 'margin
accounts') is generally deductible to the extent that it offsets
investment income (such as interest, dividends and short term capital
gains). Interest payments in excess of investment income can be carried
forward in hopes of offsetting future investment income. This
calculator can help you better manage the use of debt as an investment
tool, and more accurately time your income and interest payments to
take best advantage of current deductibility laws and limitations.
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How much
self-employment tax will I pay?
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Self employment taxes are comprised of two parts: Social Security and
Medicare. For 2007, you and your employer each pay Social Security
taxes of 6.2 percent on the first $97,500 of your covered wages. You
each also pay Medicare taxes of 1.45 percent on all your wages - no
limit. If you are self-employed, your Social Security tax rate is 12.4
percent and your Medicare tax is 2.9 percent on those same amounts of
earnings but you are able to deduct half of that as if you were your
own employer. Use this calculator to estimate your self-employment
taxes.
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Capital gains (and
losses) tax estimator
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Federal taxes on your net capital gain(s) will vary depending on your
marginal income tax bracket and holding period of the asset. Use this
calculator to help estimate capital gain taxes due on your transactions.
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Compare taxable,
tax-deferred, and tax-free growth?
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Many investments are taxed differently. For example with bonds, some
may be taxed federally only, some may be taxed at the state level only,
and some may be taxed both at the state and federal level. Use this
calculator to help make an apple-to-apple comparison of varying
investment returns.
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How much of my
social security benefit may be taxable?
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Did you know that the government may tax up to 85% of your Social
Benefit? If this is the case you may want to reposition some of your
other income to minimize how much of your Social Security is taxed and,
thereby, maximize your retirement income.
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What are the tax
implications of paying interest?
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Interest paid may or may not be tax-deductible depending on the type of
interest paid. Use this calculator to help determine what, if any,
interest you pay this year may be deductible and to what extent it may
save you on taxes.
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Should I itemize or
take the standard deduction?
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If you have numerous itemized deductions such as mortgage interest,
charitable contributions, etc., it may make sense for you to itemize
your deductions instead of using the standard deduction for your tax
filing status. Use this calculator to help you make that decision.
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What is my
taxable-equivalent yield?
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Tax-free investments such as municipal bonds have lower yields due to
their tax-exempt status. Use this calculator to determine an equivalent
yield on a taxable investment. The higher your marginal tax bracket
(state and federal), the higher the tax-equivalent yield.
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| Investment Calculators
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How should I
allocate my assets?
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Over 90 percent of investment returns are determined by how investors
allocate their assets versus security selection, market timing and
other factors.* Use this calculator to help determine your portfolio
allocation based on your propensity for risk.
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Compare taxable /
tax-free investment return
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Many investments are taxed differently. For example with bonds, some
may be taxed federally only, some may be taxed at the state level only,
and some may be taxed both at the state and federal level. Use this
calculator to help make an apple-to-apple comparison of varying
investment returns.
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What is the value
of a bond?
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Bond values are very sensitive to market interest rates. For example,
if you purchased bond with a stated/coupon rate of 10% and market rates
had declined to 8% since you purchased the bond, then the value of your
10% bond in a market crediting 8% would be higher. Use this calculator
to help determine the value of a bond.
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What is the return
on my real estate investment?
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Purchase price, loan terms, appreciation rate, taxes, expenses and
other factors must be considered when you evaluate a real estate
investment. Use this calculator to help you determine your potential
IRR (internal rate of return) on a property.
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What is the value
of compound interest?
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Compound interest can have a dramatic effect on the growth of an
investment. Use this calculator to illustrate the impact of compound
interest on the future value of an asset.
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What is the value
of a call or put option?
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A Call option represents the right (but not the
requirement) to purchase a set number of shares of stock at a
pre-determined 'strike price' before the option reaches its expiration
date. A call option is purchased in hopes that the underlying stock
price will rise well above the strike price, at which point you may
choose to exercise the option. Exercising a call option is the
financial equivalent of simultaneously purchasing the shares at the
strike price and immediately selling them at the now higher market
price.
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Taxable vs.
tax-advantaged saving comparison.
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Tax-deferral can have a dramatic affect on the growth of an investment.
Use this calculator to determine the future value of an investment
being subject to income tax each year versus deferring the tax until
withdrawal.
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What is my risk
tolerance?
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On your way home from work, do you drive in the slow lane or the fast
lane? Each person has a different propensity for risk. When investing,
this risk propensity can be used to determine the percentage of your
portfolio that is exposed to equities. Complete the following
questionnaire to help determine your risk profile.
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What is the
long-term impact of increased return?
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It may surprise you how much more you could accumulate in savings
simply by repositioning assets to achieve a slightly higher return.
Even one, two or three percent return over a short number of years can
make a dramatic difference.
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Certificate of
Deposit (CD) analyzer
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Use this calculator to help determine the potential interest growth and tax liability on your Certificate of Deposit.
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What is the
dividend yield on a stock?
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Dividends paid by a corporation can make up a significant portion of
the cash flow generated by a stock purchase. Use this calculator to
help determine your pre-tax and after-tax yield on a particular stock.
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How do expenses
impact mutual fund returns?
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It may surprise you how sales charges, management fees and lost
opportunity cost can erode the total return on your mutual fund. Use
this calculator to estimate the impact these charges may have on the
growth of your investment.
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Currency Converter
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A currency tool that allows you to perform foreign exchange rate calculations on the Internet, using up-to-the-minute currency rates.
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| Saving Calculators
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Becoming a
millionaire
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It may surprise you how quickly you can accumulate a million dollars.
Use this calculator to determine the annual amount you would have to
set aside each year to reach a million dollars.
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Income generated by
a savings plan.
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Saving regularly can help you achieve your future income goals. Use
this calculator to determine how much income an existing balance and/or
a regular savings plan can provide.
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How long will it
take to double my money?
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Compound interest can have a dramatic affect on the growth of a single
deposit. By dividing 72 by your investment return you can determine the
amount of time required for your money to be worth about twice as much
as it is today.
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How long until my
savings reach my goal?
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Compound interest can have a dramatic affect on the growth of a single
deposit. Use this calculator to determine how many years an existing
savings account will take to reach your stated objective.
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Save now vs. save
later
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A penny saved is a penny earned, but a penny saved today is a penny
earning more. It is important to start saving as soon as possible for
events such as retirement due to the impact of compounding. If you
start saving now you will need to save considerably less than if you
wait a few years. Use this calculator to determine how much extra you
will need to save if you wait.
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How much should I
save to reach my goal?
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What are you saving for: a computer, car, boat, summer home, down
payment? Use this calculator to determine what you need to save on a
regular basis to have the funds ready when needed.
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What will my
current savings grow to?
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Compound interest can have a dramatic effect on the growth of series of
regular savings and initial lump sum deposits. Use this calculator to
determine the future value of your savings and lump sum.
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Calculate rate of
return
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The initial receipt or payment, the amount of subsequent receipts or
payments, and any final payment or receipt, all play a factor in
determining the return.
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How do taxes and
inflation impact my return?
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Taxes and inflation can have a dramatic effect on the growth of an
investment. Use this calculator to determine the impact taxes and
inflation can have on the purchasing power of your investment.
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What is my
effective annual yield?
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The number of compounding periods per year will affect the total
interest earned on an investment. For example, if an investment
compounds daily it will earn more than the same investment with the
same stated/nominal rate compounding monthly. Use this calculator to
determine the effective annual yield on an investment.
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| Qualified Plans Calculators
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Evaluate my company
pension payout options
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When you reach retirement, and if your company provides a pension
program, you will be offered a number of payout options. Typically,
they will be the Single Life and the Joint Survivor payout options.
Single Life pays a higher monthly amount but stops paying once you die,
whereas, the Joint Survivor will pay a lower monthly amount but will
continue until both you and your spouse are deceased. This calculator
will help evaluate total payout amounts under both scenarios given
specified life expectancies.
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How much can I
contribute to an IRA?
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Many factors can affect your eligibility to contribute to an Individual
Retirement Account (IRA) -- including your marital status, availability
of a retirement plan at work, current and future tax rates, investment
returns, when you will withdraw the money, and how you will use the
money.This calculator compares features and eligibility
requirements for the Non-deductible IRA, the Traditional IRA and the
Roth IRA, and it is designed to help you determine whether you are
eligible to contribute to these retirement savings vehicles.
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How much retirement
income can my IRA provide?
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Your retirement income can vary widely depending on what type of IRA
holds your savings and what assumptions you make about return and tax
rates during the accumulation and withdrawal periods. Use this
calculator to help estimate your monthly and annual income from various
IRA types.
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Should I convert to
a Roth IRA?
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If your income is $100,000 or less and you are single or married,
filing jointy, you may be eligible to convert your traditional IRAs to
a Roth IRA in order to take advantage of federally tax-free earnings in
the future.You will generally pay ordinary federal income tax
(but not the 10% penalty tax) on the taxable amount that is converted.
Your tax-free potential is maximized if you pay the taxes from your
current income or personal savings, not your IRA.
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What will my
qualified plan be worth at retirement?
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It may surprise you how significant your retirement accumulation may be
simply by contributing regularly to a qualified plan. Use this
calculator to estimate how much you may accumulate by saving in a
qualified plan.
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What is my current
year required minimum distribution?
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Current tax law specifies that once you reach age 70-1/2 you must begin
making taxable withdrawals from your IRAs and many other retirement
plans. These minimum distributions are calculated annually based on
your age, plan balance at the end of the previous year, marital status
and spouse's age. If you do not meet the annual minimum distribution,
you may be subject to a 50% penalty on your underpayment, plus ordinary
income tax as the funds are withdrawn. You must be AT LEAST 70 1/2
years of age to use this calculator, younger plan owners are not
subject to the required minimum distribution rules.
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What is my
projected required minimum distributions?
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Current tax law specifies that once you reach age 70-1/2 you must begin
making taxable withdrawals from your IRAs and many other retirement
plans. These minimum distributions are calculated annually based on
your age, plan balance at the end of the previous year, marital status
and spouse's age. If you do not meet the annual minimum distribution,
you may be subject to a 50% penalty on your underpayment, plus ordinary
income tax as the funds are withdrawn.
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What are my lump
sum distribution options?
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You've spent a long time accumulating funds in your retirement account.
When you retire and take distribution of your funds you have many
options to consider.
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How do I maximize
my employer 401(k) match?
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Many employees are not taking full advantage of their employer's
matching contributions. If, for example, your contribution percentage
is so high that you obtain the $15,000 limit (year 2007) in the first
few months of the year then you have probably maximized your
contribution but minimized your employer's matching contribution. The
goal is to reach the IRS limit while at the same time maximizing your
employer's matching contribution and thereby maximize take-home pay. |
What is the impact
of borrowing from my 401(k) plan?
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Many people borrow from their company-sponsored 401(k) plan to pay off
high interest debt or to make a major purchase. Although the borrowing
rates may be favorable, usually 1-2% above the prime rate, the impact
on future retirement earnings needs to be taken into account. Use this
calculator to help you make your decision.
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What is the impact
of early withdrawal from my 401(k)?
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Many people feel the need to withdraw funds from their 401(k) plan due
to hardship or other emergency. Use this calculator to help determine
the impact of lost contributions and retirement funds due to early
withdrawal.
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I'm self-employed,
how much can I contribute to a retirement plan?
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Compensation for a self-employed individual (sole proprietor or
partner) is that person's 'earned income.'* The starting point to
determine the individual's earned income is the net profit amount from
the Schedule C (or Schedule K-1 for a partnership). Use this calculator
to determine your maximum contribution amount for a Self-Employed
401(k), SIMPLE IRA and SEP.
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Net Unrealized
Appreciation (NUA) vs. IRA Rollover?
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The NUA is important if you are distributing highly appreciated company
stock from your tax-deferred employee-sponsored retirement plan, such
as a 401(k). Upon the distribution the NUA is not subject to ordinary
income tax. For this reason it may be better to transfer the company
stock to a regular taxable account instead of rolling the stock over to
a tax-deferred IRA: that is, if rolled over to an IRA, the company
stock's NUA would eventually be taxed at your ordinary income tax rate
(when you take distribution of the stocks).
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| Benefits Calculators
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Should I exercise
my "in-the-money" stock options?
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When your employee stock options become 'in-the-money', where the
current price is greater than the strike price, you can choose from one
of three basic sell strategies: Exercise your options, then hold the
stock for sale at a later date (exercise and hold); hold your options
and exercise them later (defer exercise); or exercise your options and
immediately sell the stock (exercise and sell). This calculator will
help you decide which choice will likely maximize your after-tax
profits.
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What may my 401(k)
be worth?
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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. Use this calculator to estimate how much your plan
may accumulate for retirement.
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What is the impact
of increasing my 401(k) contribution?
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It may surprise you how significant your retirement accumulation may be
simply by increasing the percent of your salary that you save each
month in your 401(k). Use this calculator to estimate how much more you
could accumulate taking into account any employer match (if applicable).
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Cash Flow Calculators
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Does inflation
impact my standard of living?
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Where does all the money go? An itemization of your living expenses may
help you budget better and plan for future expenses. Use this
calculator to help you recall and itemize your living expenses.
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How much am I
spending?
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Where does all the money go? An itemization of your living expenses may
help you budget better and plan for future expenses. Use this
calculator to help you recall and itemize your living expenses.
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How much do I need
for emergencies?
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It is prudent planning to have at least three to six months of
liquid/cash assets set aside in the event of a loss of job, medical
emergency, short-term disability, etc. Use this calculator to help
determine how much you need to set aside monthly or as a lump sum to
create an emergency fund.
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Should I pay down
debt or invest more?
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When you receive some extra money it may be difficult to determine
whether you should invest the funds or use them to retire debt.
Financial theory recommends that if your after-tax return on
investments is greater than your after-tax cost of debt then you should
invest. However, remember to consider the inherent riskiness of the
investment you select (i.e. you may lose the money you invest yet still
have obligations to pay back the liability). Use this calculator to
help analyze your situation.
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How long will my
money last?
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You have worked hard to accumulate your savings. Use this calculator to
determine how long those funds will last given regular withdrawals.
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Should my spouse
enter the work force?
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A working spouse can provide additional needed household income.
However, when making your decision, you need to look at the net income
generated by a working spouse not simply the gross income. Factors such
as health insurance savings, increased daycare expenses, additional
transporation costs, etc. need to be considered. Use this calculator to
help determine the potential additional take-home pay.
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What is my current
net worth?
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In order to get where you want to go, you need to know where you are.
You can get a view of your financial position by generating a personal
net worth statement. Over time your net worth will change as your
assets earn interest or are depleted and your liabilities increase or
decrease. Use this calculator to estimate what your net worth could be
in the future based on specified growth rates.
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What is my
projected net worth?
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In order to get where you want to go, you need to know where you are.
You can get a view of your financial position by generating a personal
net worth statement. Over time your net worth will change as your
assets earn interest or are depleted and your liabilities increase or
decrease. Use this calculator to estimate what your net worth could be
in the future based on specified growth rates.
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What is my current
cash flow?
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Businesses generate a sources and uses of cash statement to evaluate
their income and expenses and to check profitability. Similary, a cash
flow statement can help you evaluate your personal income and expenses
and see if you are running 'in the red or the black' each month.
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What is my
projected cash flow?
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Businesses generate a sources and uses of cash statement to evaluate
their income and expenses and to check profitability. They also create
a proforma which is a projection of future cash flows based on
assumptions about growth/decline of income and expenses. Similary, a
projected cash flow statement can help you evaluate your personal
income and expenses and see if you potentially may run 'in the red or
the black' at a future date.
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Value of reducing
or foregoing expenses.
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Use this calculator to help determine what you could accumulate by not
eating out as much, eliminating the newspaper, not renting as many
videos and other discretionary monthly expenses.
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