General Electric Credit Unionwww.gecreditunion.org
Most Americans are not saving enough for retirement. Start planning now to ensure you are able to maintain your lifestyle and retire at your desired age.
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.
Percentage of Income You Save
Enter the percentage of income you save annually towards retirement.
Wage Growth Percentage
Enter the percentage by which you expect your wages to grow. Typically, 3% - 5% per year.
Current Retirement Savings
Enter the amount you currently have saved for retirement.
Inflation Rate
Enter the inflation rate you want to use for these calculations. The historical average is 2-3%.
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.
Percentage of Income Needed at Retirement
Enter the percentage of your current income you think you will need at retirement.
Other Retirement Income (Yearly)
Enter any other annual income you will receive at retirement besides your savings. For example: pensions, trusts, etc.
Yearly Social Security Income
Enter the annual social security income you will receive your first year of retirement. You can find this information on your yearly social security statement.
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.
Savings Balance at Life Expectancy
This is the balance or debt at your life expectancy age.
Age When Savings Run Out
Age when your retirement savings run out.
Income Needed At Retirement
Income you will need at retirement based on wage growth during your working years.
Other Income At Retirement
Other income you will receive the first year of retirement.
Social Security Income At Retirement
Social Security income you will receive the first year of retirement.
Annual Savings Withdrawal At Retirement
The amount you will be able to withdraw from savings the first year of retirement.
General Electric Credit Union
Serving employees and employee family members who work for General Electric and associated organizations. Membership is also available to those who live, work, worship, or attend school in the Ohio counties of: Hamilton, Butler, Warren, Clermont, Montgomery, Adams, Brown, Clinton, Fayette, Greene, Highland, and Preble. See website for details.10485 Reading RdCincinnati, OH 45241-2523(513) 243-4328www.gecreditunion.org
