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Northeast Community Credit Unionwww.BeMyCU.org
A 401(k) plan is one of the most powerful tools you can use to save for your retirement. Use this calculator to estimate how much you can save with your 401(k) retirement savings plan.
Current Age
Enter your current age.
Retirement Age
Enter the age at which you wish to retire.
Life Expectancy
Enter the age you expect to live to.
Current Income
Enter your current income.
401(k) Contribution Percentage
Enter the percentage of your income you contribute annually to your 401(k) retirement plan.
Wage Growth Percentage
Enter the percentage by which you expect your wages to grow. Typically, 3% - 5% per year.
Current 401(k) Balance
Enter the current balance of your 401(k) retirement plan.
Employer Match Percentage
Enter the percentage of your income your employer matches.
Pre-Retirement Rate of Return
Enter the rate of return you expect to achieve on your pre-retirement investments.
Post-Retirement Rate of Return
Enter the rate of return you expect to achieve after retirement on your investments.
Inflation Rate
Enter the inflation rate you want to use for withdrawal calculations.
Current Retirement Savings
Current retirement savings balance.
Savings at Retirement
Based on the information entered this is the amount of money you will have saved during your working years.
Monthly Income Adjusted For Inflation
The value in "today's dollars" of your monthly retirement income adjusted for inflation.
Estimated Monthly Income at Retirement
The estimated monthly income you will earn from your 401(k) savings based on your rate of return after retirement.
Your 401(k) Contributions
Your 401(k) contributions based on your current salary. This amount will increase as your salary increases.
Employer Contributions
Employer 401(k) contributions based on your current salary. This amount will increase as your salary increases.
Employers Total 401(k) Contributions at Retirement
The total 401(k) contribution your employer is projected to make during your working years based on your employers contribution percent.
Your Total 401(k) Contributions at Retirement
The total 401(k) contribution you are projected to make during your working years based on your contribution percent.
Northeast Community Credit Union
Northeast Community Credit Union is proud to be a federally-insured community credit union serving the individuals of Carter, Washington, Johnson, Sullivan and Unicoi counties. Anyone that lives, works, worships, or attends school in our area may join the credit union with a $25 initial deposit into a share account. See website for details.980 Jason Witten WayElizabethton, TN 37643(423) 547-3820www.BeMyCU.org
Path to Investing offers clear, objective, and practical information for retirement investing.
The Wall Street Journal provides the latest retirement news and resources.
The U.S. Department of Labor has published Taking The Mystery Out Of Retirement Planning as an interactive, free online resource.
