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Welcome Federal Credit Unionwww.welcomecu.org
We would all like to maintain a certain standard of living in retirement. Use this calculator to understand the effects of inflation on the income level you will need as you approach retirement.
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 Annual Income
Enter your current annual income.
Inflation Rate
Enter the inflation rate you want to use for these calculations. The historical average is 2-3%.
Percentage of Income Needed at Retirement
Enter the percentage of your current income you think you will need at retirement.
In order to maintain your standard of living during retirement with 75% of your current income, you will need the following inflation adjusted retirement incomes.
If You Retired Today
Your inflation adjusted income requirements if you retired today.
Income Needed At Retirement
Inflation adjusted income you will need at retirement.
Income You Need At Life Expectancy
Inflation adjusted income you will need at life expectancy.
Welcome Federal Credit Union
Welcome Federal Credit Union is offered as a benefit of your company or organization for both you and members of your immediate family. See website for membership details.3030 Cornwallis RoadElion-Hitchings (Main) BuildingResearch Triangle Park, NC 27709919-483-1251www.welcomecu.org
IRS.gov's "Retirement Plans Community" provides several retirement planning resources, including a cost-of-living increase section.
WSJ.com's "Retirement Planning" section offers articles on all aspects of retirement planning, including 401(k)s, investing, and other ways to supplement social security benefits.
U.S Department of Labor's "Taking the Mystery Out of Retirement Planning" is an online booklet that includes interactive worksheets. Download the fully illustrated 62-page Adobe PDF narrative or call to order copies.