Retirement Calculators

Calendar August 26, 2011 | Posted by 401k Rollover

401k Calculator – Retirement Calculator

retirement calculator Retirement Calculators

401k Calculator
Salary:
401k Contribution (%):
Employer Match (%):
Estimated Rate of Return (%):
Years until retirement:
When you retire, you will have about
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This 401k Calculator can give you an estimate of what you can expect to earn in the future.

Compound Interest Calculator

Compound Interest Calculator
Amount of Money:
Interest Rate (%):
Number of Years to Compound:
Future Value
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The compound interest calculator is another simple but helpful calculator for you!

Fica Tax Retirement Calculator

FICA Tax Calculator
Your Salary:
Self-employed? :
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Ever wonder what your fica taxes would be?  Very helpful if you’re self employed.

Income Retirement Calculator

Income Calculator
Weekly Salary:
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If you are paid weekly, this income calculator is helpful for figuring out gross and net incomes.

Retirement Savings Calculator

Retirement Calculator
Current Savings:
Desired Retirement Savings:
Years Until Retirement:
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Helpful tool to figure out and calculate how much you should start saving monthly.

Income Tax Retirement Calculator

Income Tax Calculator
Taxable Income:
Tax Rate (%):
Your taxes would be
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It’s never fun to figure out how much you owe to the IRS, but none the less, this Income Tax Calculator is very helpful.

Investment Return Calculator

Investment Return Calculator
Beginning Value of Investment:
Ending Value of Investment:
Income Received From Investment:
The overall return on your investment has been
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You can leave the last field blank if you are not currently receiving income.  Investment Returns are pretty easy to figure out.

IRA Calculator

IRA Calculator
Current IRA Balance:
Contributions Per Year ($):
Years Until Retirement:
Expected Rate of Return (%):
Marginal Tax Rate at Retirement (%):
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You’ll this IRA Calculator.

ROTH IRA Calculator

Roth IRA Calculator
Current IRA Balance:
Contributions Per Year ($):
Years Until Retirement:
Expected Rate of Return (%):
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Helpful tool for making calculations on your ROTH IRA.

Rule of 72 Retirement Calculator

Rule of 72 Calculator
Investment Amount:
Interest Rate (%):
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Ever wonder how long it will take to double your investments or double your wealth?

Net Worth Calculator

Net Worth Calculator
Stocks:
Bonds:
Other Investments:
Cash (CD's/Money Market/etc.):
Real Estate:
Variable Annuities:
Value of Primary Home:
Value of Additional Homes:
Art/Collectibles/Jewelry/Furnishings:
Other Assets:
Mortgages:
Home Equity Loans:
Student Loans:
Credit Card Debt:
Other Liabilities:
Your net worth is
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The Net Worth Calculator is the grand daddy of all calculators.  Everyone should figure out their net worth monthly!

Alright… I hope you find these retirement calculators useful, and if so… don’t forget to swing by my Facebook Page and click LIKE! — > http://www.facebook.com/401kRollovers


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What’s Required Minimum Distribution or RMD got to do with ME?

Calendar March 17, 2010 | Posted by 401k Rollover

I always like to laugh when clients ask, “why is there a RMD or required minimum distribution for taking money out of my IRA if I don’t want to?”  I’ll reply, “…because the IRS has to get paid one of these days and they had to wait almost 71 yrs in your case.”

I never understood why there’s so many different taxations.  In addition to all of the state, federal, income, sales taxes, etc., they then throw in tax deductions, tax incentives, tax deferrals.  Wouldn’t it just make more sense to reduce overall taxes, thus getting rid of the need for tax incentives and deductions? No wonder America goes crazy around April 15th.  Let’s get back to what the RMD is all about.

All retirement accounts such as 401k, IRA’s, 403b’s, etc. were originally created to encourage individuals to plan for their own future, in hopes of reducing the financial dependency on our government.  For that reason, the government has allowed retirement accounts to grow tax-deferred up to age 70 1/2.  By that time, if a client has never withdrew monies out of their retirement account, they are required to start doing so.

We all understand that any withdraws or distributions from these accounts are considered taxable income.  This is where Uncle Sam is able to impose income taxes so he can get paid.  By age 70 1/2 there is a chart or table which can be found on the IRS website, that illustrates the percentage factor of what the minimum required distribution is every year thereafter.  The RMD chart will change from time to time, so it’s a good idea to check at the beginning of each year.  See below for the chart.

I then get asked, “What happens if I miss the RMD for the year or decide I don’t want to take a distribution?” Excellent question!  Let’s say you have a required minimum distribution you have to take out and that equals to $5,000.  This is just for illustrative purposes.  If you did not take out the $5,000, then the IRS can impose a tax on 50% of that amount.  This means, you didn’t take anything out, and are required to pay taxable income on the $2,500.   Depending on your tax rate at that age, it could be 10%, 15%, or 20%.   It’s just better in my opinion to take that out the $5,000 and enjoy that vacation you’ve always wanted.  After all… any year after 71 is a good year!

RMD Chart

Required minimum IRA distributions
8 spacer Whats Required Minimum Distribution or RMD got to do with ME?
Age of retiree
Distribution period (in years)
Age of retiree
Distribution period (in years)
70
27.4
93
9.6
71
26.5
94
9.1
72
25.6
95
8.6
73
24.7
96
8.1
74
23.8
97
7.6
75
22.9
98
7.1
76
22.0
99
6.7
77
21.2
100
6.3
78
20.3
101
5.9
79
19.5
102
5.5
80
18.7
103
5.2
81
17.9
104
4.9
82
17.1
105
4.5
83
16.3
106
4.2
84
15.5
107
3.9
85
14.8
108
3.7
86
14.1
109
3.4
87
13.4
110
3.1
88
12.7
111
2.9
89
12.0
112
2.6
90
11.4
113
2.4
91
10.8
114
2.1
92
10.2
115 or older
1.9

We’ll go over how to calculate the RMD in the next post.

Need Help With  Calculating Your RMD?

Ask Binh

Binh Nguyen

(832) 273-3392

admin@401krollovers.info

401k to ira rollovers 150x150 Whats Required Minimum Distribution or RMD got to do with ME?

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