About Your Number

Your Number. It’s the amount of money you need to have saved to retire the way you want. Why is finding it so important? Because it’s both your starting point and your destination. In fact, just knowing Your Number can help make saving for retirement simpler.

While calculating Your Number can be a straightforward exercise, developing a plan for reaching it can be more complex. A financial professional can help assure you're on the right track to achieve the retirement you want.

DISCLAIMER: The analysis provided by this tool is based solely on the information provided by you. All examples, if any, are hypothetical and for illustrative purposes and do not represent current or future performance of any specific investment. No guarantees are made as to the accuracy of any projection. This information does not serve, either directly or indirectly, as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions relative to your individual tax situation. All investments carry a degree of risk, and past performance is not a guarantee of future results. Generally speaking, the greater the return, the greater the risk.

ASSUMPTIONS: This calculator determines a lump sum account balance required at the start of retirement in order to provide the requested retirement income for the requested retirement time period. The calculator assumes the complete depletion of allocated retirement assets to provide for retirement income needs to the end of the assumed life expectancy. Social Security benefits, Pension benefits, personal savings, retirement saving, and Federal and State Income taxes are excluded from the calculator. If included, they would impact the calculation of Your Number. The post-retirement annual rate of return is assumed to be 5.00%. The annual rate of inflation is assumed to be 3.00%. Monte Carlo simulation is not included in the analysis.

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Calculator Disclaimer
The analysis provided by this tool is based soley on the information provided by you. All examples, if any, are hypothetical and for illustrative purposes and do not represent current or future performance of any specific investment. No guarantees are made as to the accuracy of any projection. This information does no serve, either directly or indirectly as legal, financial or tax advice and you should always consult a qualified professional legal, financial and/or tax advisor when making decisions relative to your individual tax situation. All investments carry a degree of risk, and past performance is not a guarantee of future results. Generally speaking, the greater the return, the greater the risk.
Ted Glime
Age:
27
Location:
Austin, TX
Occupation:
Civil Engineer
Current Salary:
$50,000 per year
Martial Status:
Single
Number:
$1,252,561
Ted started a job two years ago and, while he pretty much lives paycheck to paycheck, has been putting a small amount of his salary towards a 401(k). His employer matches it and he knows he’d be silly not to take advantage of that. He’d be missing out on free money. He doesn’t really even miss it because the money is taken out of his check before he sees it. He loves to golf, rock climb and go to happy hour with friends. These can be expensive habits. He worries somewhat about paying off his school loans and credit card debt.
Robert & Denise Carreon
Age:
Both 45
Location:
Denver, CO
Occupation:
He's a lawyer, She's a teacher
Current Salary:
$175,000 per year combined
Martial Status:
Married/Two kids, 9 and 7
Number:
$2,439,189
Robert has been working in law for 20 years. He has been putting quite a bit of money in his 401(k) for all of those years. He also has made money in stocks and buying and selling homes in Denver. Denise taught for 10 years before having her first child. She was a stay at home mom for about 4 years and has recently gone back to teaching. Her job offers a good retirement package and she plans on taking advantage of it. Their kids are expensive! They take piano, play football, have choir practice, tennis lessons and go to private school. Robert and Denise worry about whether they’re saving enough for retirement when they have to be saving for their children’s college and cover daily living expenses.
Charlie & Christine McClure
Age:
He's 64, She's 60
Location:
Holly, MI
Occupation:
Owners of a Diner
Current Salary:
$110,000
Martial Status:
Married, 3 grown children who are out of the house
Number:
$893,483
Charlie and Christine have owned a diner for 30 years. They used money left to Christine after her parents passed, to open it. They started their own savings plan years ago and rolled Charlie's 401(k) money into it when he quit his job as Foreman at a car plant in Detroit. They own a home that's up for sale. They put three children through college and paid for all of their weddings.
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