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Use this calculator to compute how much you need to have invested in order to withdraw a specified amount each year over the course of a specified period of time. For example, if you want to be able to withdraw a measly $1000 during each month of your expected 20-year retirement, this calculator will tell you that if you expect to earn a 8% interest rate (5% or 6% is more accurate right now) you will need to have $119,554.29 saved up by the time you retire. If you need $4000 a month ($48,000 a year) you will need to save... $478,217.16! That's almost a half a million bucks! Can you save this amount at your job? I know I can't!
And not to throw more wood on the bad news fire but this amount does NOT take into account Uncle Sam's massive bite! (a.k.a. taxes)
I told you this was scary!
Go on, play with the numbers below and you will see why so many 'retired' people MUST continue to work at McDonalds or Walmart. That's sad! You can't afford to to 'stick your head in the sand' and hope these numbers aren't true. They are true! Do something about your future TODAY!
Your Retirement Calculator
Instructions:
Note: Other than decimal points, do not enter any other non-numeric characters (commas, dollar signs, etc.) in the entry boxes. Doing so will cause a JavaScript error.
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