Begin Balance = 0

Monthly Deposit =

Interest/Year =

Term = 240

Retirement Balance =

Withdrawal Timing = 12

Interest/Year =

Term = 20

Withdrawal Amount =

Future Value =

Integrates calculations for savings and withdrawal templates to determine how much needs to be saved for retirement and how much can be spent during retirement.

- Begin Balance: Initial amount saved.

- Monthly Deposit: Amount saved each month. Deposits are made at the end of every month.

- Interest/Year: Average, annual interest rate earned on investments expressed as a percentage.

- Years: Number of years until retirement.

- Retirement Balance: Balance at retirement.

Retirement

- Withdrawal Timing: How often the withdrawals occur. Options include Bi-Weekly (payments every two weeks; 26 payments per year); 2x/Month (payments on 15th and 30th); 24 payments per year); Monthly (12 per year); Quarterly (4 per year); 2x/Year (2 per year); Yearly (1 per year). Payments are always made at the end of the period.

- Interest/Year: Average, annual interest rate earned on the remaining funds, expressed as a percentage.

- Withdrawal Amount: Amount withdrawn at each withdrawal period as indicated by Withdrawal Timing. It is assumed that withdrawals occur at the beginning of each month.

- Years: Number of years of withdrawals.

- Future Value: Value of account after withdrawals.

Over the course of a 35 year career, you save $500 per month and average a 10% return. Then you wish to retire. Assuming you start with $10,000, are retired for 40 years, can continue averaging 10% per year, and wish to retain $1,000,000 minimum, how much will you have saved at retirement and how much can you withdraw each month during retirement?

- Begin Balance: $10,000.00

- Monthly Deposit: $500.00

- Interest/Year: 10%

- Term: 35 years

Your retirement balance is $2,224,705.53.

- Withdrawal Timing: Monthly

- Interest/Year: 10%

- Term: 40 years

- Future Value: $1,000,000.00

You can withdraw $18,703.87 per month.

Begin Balance

Monthly Deposit

Interest/Year

Term

Retirement Balance

Withdrawal Timing

Interest/Year

Term

Withdrawal Amount

Future Value

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