Calculators

Crunch numbers now to better prepare for tomorrow.

Roth 401(k) or Traditional 401(k)?

Your retirement income can vary widely depending on what type of account holds your savings and what assumptions you make about return and tax rates during the accumulation and withdrawal periods. Use this calculator to help compare employee contributions to the new after-tax Roth 401(k) and the current tax-deductible 401(k).

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Am I saving enough for my retirement?

Retirement can be the happiest day of your life! This pre-retirement calculator was developed to help you determine how well you have prepared and what you can do to improve your retirement outlook. It is important that you re-evaluate your preparedness on an ongoing basis. Changes in economic climate, inflation, achievable returns, and in your personal situation will impact your plan.

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Should I convert to a Roth IRA?

Roth IRA is a great way for clients to create tax-free income from their retirement assets. Yet, keep in mind that when you convert your taxable retirement assets into a Roth IRA you will generally pay ordinary income tax on the taxable amount that is converted. The conversion amount is not subject to the 10% early distribution penalty. Your tax-free potential is maximized if you pay the taxes from your current income or personal savings and not from your IRA. Individuals of all income levels are eligible to convert to a Roth IRA.

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I'm retired, how long will my savings last?

Due to increasing life expectancies, many are running into the problem of outlasting their savings. Use this calculator to help determine when your retirement savings account may be depleted given a specified monthly income target. You may currently be in receipt of a company pension or other fixed income such as Social Security to help supplement your retirement savings account.

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What is the impact of increasing my 401(k) contribution?

It may surprise you how significant your retirement accumulation may be simply by increasing the percent of your salary that you save each month in your 401(k). Use this calculator to estimate how much more you could accumulate taking into account any employer match (if applicable).

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Are my current retirement savings sufficient?

One method of retirement planning is to project what you are currently saving and have already accumulated to see if you will have enough to meet your retirement objectives. Use this retirement planning calculator to determine when/if the money will run out during retirement and it will recommend additional savings if required.

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What is my estimated Social Security retirement income?

Depending upon your current earnings, Social Security can be a significant part of your retirement income. However, many factors will impact the benefit you may receive. Use this calculator to approximate your Social Security benefit. For a more accurate estimate, taking into account your earnings history, contact the Social Security Administration at 1-800-772-1213 or visit www.ssa.gov.

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What is the long-term impact of increased investment return?

It may surprise you how much more you could accumulate in savings simply by repositioning assets to achieve potentially a slightly higher return. Even one, two or three percent return over a short number of years can make a dramatic difference.

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What is the impact of early withdrawal from my 401(k)?

Many people feel the need to withdraw funds from their 401(k) plan due to hardship or other emergency. Use this calculator to help determine the impact of lost contributions and retirement funds due to early withdrawal.

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How should I allocate my assets?

Over 90 percent of investment returns are determined by how investors allocate their assets versus security selection, market timing and other factors. Use this calculator to help determine your portfolio allocation based on your propensity for risk.

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How much should I be saving for college?

With college costs increasing at twice the rate of inflation, it is important to start saving early. Interest working for you now in a regular savings program is much better than having interest work against you in the future in the form of education loans. Use our college savings calculator to determine how much you should be saving for college on a regular basis.

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What is the impact of making extra payments on my debt?

Over the course of a loan amortization you will spend hundreds, thousands, and maybe even hundreds of thousands in interest. By making a small additional monthly payment toward principal, you can greatly accelerate the term of the loan and, thereby, realize tremendous savings in interest payments. Use our extra payment calculator to determine how much more quickly you may be able to pay off your debt.

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Should I lease or purchase an auto?

Leasing has become a very popular method of acquiring a new auto. Although the payments may seem attractive, it may not always be the best financial decision versus purchasing the vehicle outright and financing it with a low interest loan. Use the following calculator to help analyze the financial impact of lease versus buy.

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How much do I need for emergencies?

It is prudent planning to have at least three to six months of liquid/cash assets set aside in the event of a loss of job, medical emergency, short-term disability, etc. Use this calculator to help determine how much you need to set aside monthly or as a lump sum to create an emergency fund.

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How much house can I afford?

When you're buying a home, mortgage lenders don't look just at your income, assets, and the down payment you have. They look at all of your liabilities and obligations as well, including auto loans, credit card debt, child support, potential property taxes and insurance, and your overall credit rating. Use our new house calculator to determine how much of a mortgage you may be able to obtain.

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Should I refinance my mortgage?

Over the last couple of years with interest rates at a 40-year low, many people refinanced their mortgages. Depending on how many months the ongoing payment savings will take to cover your upfront closing costs, refinancing may make sense for you. Use our refinance calculator to analyze your situation today!

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How much life insurance do I need?

Planning to meet the financial needs of your survivors is one of the most important and fundamental steps in creating a sound financial plan for you and your family. This step may require the purchase of a life insurance policy to ensure that your family's needs will continue to be met, even after your untimely death cuts your earnings potential short. This life insurance calculator will help you determine the policy that is right for you.

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Which is better, comprehensive plan or high-deductible plan with HSA?

Health Savings Accounts (HSAs) were created by the Medicare bill signed by President Bush on December 8, 2003. HSAs are a form of medical savings account that must be accompanied by a high-deductible health insurance plan. HSAs allow individuals/employers to set aside money on a pre-tax or tax-deductible basis and then withdraw the money tax-free to pay qualifying medical expenses. Use this calculator to help compare a traditional, low-deductible health plan to a high-deductible health plan accompanied by an HSA to cover out-of-pocket expenses.

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What may my Health Savings Account (HSA) be worth?

The Health Savings Account (HSA) is one of the few investment options that provides a three-fold tax benefit: contributions to an HSA are tax-deductible thereby reducing your income tax, earnings on the HSA account continue to grow tax-deferred, and all contributions and earnings in HSAs become tax-exempt if used for qualified medical expenses such as outpatient services, prescription drugs, etc. Use this calculator to estimate how much your HSA plan savings may grow to in the future.

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