What this planning tool does.
It can help you begin planning for your financial future. Simply by inputting some basic financial information and assumptions, you&rsqou;ll take the first steps to meeting important financial goals.
And what it doesn’t…
It cannot provide you with any final answers. Purely a mechanical device, the calculator allows you to perform “hypotheticals,” recalculating and generating new results as you input differently and make new assumptions. But it cannot take every assumption into account, consider all the information relevant to your needs, and it obviously cannot make decisions for you. For that, you'll want to learn more about the issues. Using this tool and educating yourself on the workings of life insurance and other financial products can help you feel more comfortable when discussing your needs with such professionals as your Registered Representative.
Current Retirement Savings: Are my current retirement savings sufficient?
One method of retirement planning is to project what you are currently saving and have accumulated to date and see if you will have enough to meet your retirement objectives. Use this calculator to determine when/if the money will run out during retirement and it will recommend additional savings if required.
Please note: clicking on this link means you will be leaving this Web site and you assume total responsibility and risk for your use of the site(s) you are visiting. This information is being provided strictly as a courtesy.
The assumed investment rate of return you apply is fixed and hypothetical. Many investments designed for growth do not offer fixed rates of return and fluctuate in value, meaning that in your investment experience losses are possible. The results of this Calculator are approximations and are not indicative of the future results of any investment or your future results. In reality, how long your retirement savings last will depend on factors such as fluctuating returns, your rate of withdrawal in retirement, your own investment decisions, whether you use retirement assets for other purposes during the accumulation phase, and other factors.
The results and explanations generated by this calculator may vary due to user input and assumptions. New York Life Insurance Company does not guarantee the accuracy of the calculators, results, explanations, nor applicability to your specific situation. We recommend that you use this calculator as a guideline only and you ultimately seek the guidance of an experienced professional.