Q. I kept on contributing to my 401(k) each year. Is there an easy way I can find out how much money I will have at retirement time, and how long it could last when I start withdrawing funds from it?
A. The following 401(k) Evaluation Tool was built to answer your questions.
Just plug in your numbers and assumptions to the yellow areas, you will see how much balance you will accumulate in your 401(k) account, and when your 401(k) account might run out of money, based on your planned withdrawal amounts.
If you find you will outlive your money, don't panic. This is exactly what planning is for - you have a few variables under your control - such as investment amount, investment style, retirement age, withdrawal amount, etc.
You can also explore other retirement products which could have better results than 401(k). Please contact us if you want to know more about them.
A. The following 401(k) Evaluation Tool was built to answer your questions.
Just plug in your numbers and assumptions to the yellow areas, you will see how much balance you will accumulate in your 401(k) account, and when your 401(k) account might run out of money, based on your planned withdrawal amounts.
If you find you will outlive your money, don't panic. This is exactly what planning is for - you have a few variables under your control - such as investment amount, investment style, retirement age, withdrawal amount, etc.
You can also explore other retirement products which could have better results than 401(k). Please contact us if you want to know more about them.
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