Retirement Income
Adjusting this information will change your results.2
Social Security Benefits
Additional Income
Add Expenses
When you’re living off your savings, big or unexpected expenses can undo years of diligent planning. Because every dollar counts, your spending plan needs to anticipate as much as possible. We want to help you estimate costs you might not have considered yet.
It's essential to plan for healthcare costs in retirement. Healthcare is one of the fastest rising categories of inflation over time, and as medical advancements lead to longer life expectancies, you may need to plan to pay for more healthcare than you expect.3
Your Monthly Cost Breakdown
The figures below show how much you may need to pay annually at the age of ## based on average healthcare costs for your age and gender.†† These costs will likely rise over time. When building your financial plan, we recommend using your actual personal healthcare costs for accuracy.
Total
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$# annually
Your Monthly Cost Breakdown
The figures below show how much you may need to pay annually at the age of ## based on average healthcare costs for your age and gender††. These costs will likely rise over time. When building your financial plan, we recommend using your actual personal healthcare costs for accuracy.
Total
$0/mo
$0 annually
†† The information you provide on this page will be used solely for this calculator and will not be retained for future use.
These figures show how much you may need to pay annually based on average healthcare costs for your age and gender. These costs will likely rise over time. When building your financial plan, we suggest using your actual personal healthcare costs for accuracy. Healthcare cost output will be stated in real dollars at the time of the primary user’s retirement or current year if retired.
You may want to help cover the cost of your children’s or grandchildren’s education. A generous gift! But make sure it won’t hurt your ability to live comfortably in retirement. Below, calculate how contributing towards a family member’s education could impact your savings over time.
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This calculator breaks down the total amount you expect to spend on education in retirement into monthly contributions, starting from retirement age through your life expectancy, accounting for annual inflation.
Even if you already have a will, trust or estate plan in place now, you will need to revisit and likely revise it throughout your retirement to capture changing life circumstances. A common rule of thumb is to revisit your estate plans every 5 years. You may also want to proactively account for funeral costs to reduce stress for your family after you pass.
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*Source: https://nfda.org/news/statistics
This calculator breaks down the total amount you expect to spend on estate planning costs, including attorney fees and funeral costs, into monthly contributions starting from retirement age through your life expectancy, accounting for annual inflation
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Talk to FIThe retirement calculator is for informational purposes only and does not constitute personalized advice. This calculator is not a predictive tool and does not guarantee any particular outcome. The assumptions made in the retirement calculator may or may not be accurate and are based on the information you provide. The resulting outputs will vary and are subject to change. Fisher Investments makes no guarantee regarding the accuracy of the results produced.
This simulation shows the estimated likelihood of depleting your retirement savings before your life expectancy (defaulted to 95 years of age unless otherwise adjusted by the user) from associated portfolio trajectory versus our estimates of your needs and summary statistics in relation to portfolio growth or nominal income needed in retirement, based on your inputted Retirement Assumptions and Portfolio Values. The resulting likelihoods of running out of money before life expectancy are: Needs Improvement (>5 years before life expectancy), Almost There (between 5 years before life expectancy to 4 years past life expectancy), On Track (5 or more years past life expectancy).
This hypothetical calculator makes numerous assumptions, including net portfolio returns are defaulted to 5% annually unless otherwise adjusted by the user by adding a custom asset mix or rate of return. An assumed 2% annual expense is removed after annual returns, to account investment fees and related expenses. Portfolio additions pre-retirement are not inflated, but all additions and outflows post-retirement are inflated 2.02% a year, based on the difference between the US 30-year Treasury Inflation-Protected Securities and the US 30-year Constant Maturity Treasury rates as of 12/31/2020.
These estimates are generalized, straight-line projections and do not account for actual market performance.
If you receive a formal, personalized portfolio evaluation from Fisher Investments, you will receive a more in-depth and personally tailored recommendation for your situation.
Effective tax rate defaults to a calculation based on the 2021 US Federal tax bracket. This assumes that 100% of income taken from your portfolio will be from a Traditional IRA or other tax-deferred account and excludes any other tax including state or local. This calculator does not factor in capital gains taxes.
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Use of the Asset Mix to update the hypothetical scenario makes numerous assumptions, including our forecasted returns for long-term returns of stocks (10% annually), bonds as measured by 30-year Constant Maturity US Treasurys (1.65%), cash as measured by the 3-month US Treasury yield (0.09%) and inflation as measured by the difference between the US 30-year Treasury Inflation-Protected Securities and the US 30-year Constant Maturity Treasury rates as of 12/31/2020 (2.02%) to help project the future value of your investment portfolio. An assumed 2% annual expense is removed after annual returns, to account for investment fees. This calculator assumes an annual portfolio rebalance to remain in stated asset allocation.
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This simulation assumes any Social Security or non-portfolio income will reduce the overall portfolio income you may need to withdraw to meet your needs and expenses in retirement.
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Social Security Calculator
The calculator estimates Social Security benefits if you are not already taking it. If you are taking Social Security, you may input your actual monthly benefit.
To estimate future Social Security benefits this calculator assumes you are a single beneficiary and are or will be qualified to receive full Social Security benefits; you will elect to start Social Security benefits at your full retirement age as determined by the Social Security Administration; your stated most recent year’s taxable income equals your Average Indexed Monthly Earnings times 12; and you’ve had or will have a 35-year work history. The calculator does not include or account for spousal benefits or non-standard factors such as survivors benefits. The calculator rounds full retirement age to the nearest full year. The sources for full retirement age can be found athttps://www.ssa.gov/oact/ProgData/ar_drc.html.
If 67 or older and not taking Social Security, your benefits will be applied in the next year but do not factor in a benefit premium. If under 67 and not taking Social Security, we assume you will start taking benefits at full retirement age. No two individuals will have the same results, and you may receive more or less depending on your full taxable income history, Social Security taxes paid, age, full retirement age and when you actually elect to start receiving Social Security benefits.
This calculator uses Average Indexed Monthly Earnings (assumed as your latest year of taxable income divided by 12) and bend points from the Social Security Administration to estimate your future Social Security monthly benefit. The source for bend points can be found at https://www.ssa.gov/oact/cola/bendpoints.html.
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Other retirement income
Any retirement income received outside of Social Security benefits will be determined by the user. The calculator assumes retirement income will be taxed at the federal rate based on 2021 federal tax brackets from Tax Foundation. Source can be found at https://taxfoundation.org/publications/federal-tax-brackets. The calculator assumes you are a single filer unless you have otherwise indicated you have a spouse, in which case your assumed taxes will reflect joint filing. Taxes are only at the federal level unless state tax input is added by user. The assumed tax bracket may not match your actual tax rate.
Taxes are not factored in for any income outside of portfolio withdrawals.
The calculators assume Social Security benefits and other retirement income will continue from the current year through your life expectancy, accounting for annual inflation of 2.02%, as measured by the difference between the US 30-year Treasury Inflation-Protected Securities and the US 30-year Constant Maturity Treasuries rates as of 12/31/2020.
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This estimates your out-of-pocket healthcare costs starting from your retirement age (or next year if retired). Actual expenses may vary depending on your and/or your spouse’s actual health status, area of residence, working years, retirement health insurance costs and longevity. The calculator assumes they are traditional Medicare beneficiaries. Actual private insurance costs may be higher or lower. Users should do further research and consult with their doctor, insurer, tax adviser and other related health care professionals for a more detailed, customized assessment.
The calculator assumes the difference in healthcare spend across genders remains constant across age groups. Healthcare cost data breakdown by gender is limited to male, female and overall. The calculator assumes you and your spouse are Original Medicare beneficiaries at the time of retirement and do not have employer-provided retiree health care coverage. All healthcare costs across ages and genders are from KFF.org as of 2016 and inflated by the 20-year annualized Medical CPI rate of 3.45% annually (as of 1/2020) to arrive at current year numbers. From current year on, numbers are inflated by 1.43%, the difference between the real healthcare inflation and real long-term US inflation rates.
The sub-category breakdown of out-of-pocket expenses is based on an overall cost breakdown according to the user’s age and gender. The source for Medicare, out-of-pocket expenses after Medicare and all other healthcare costs is at: http://files.kff.org/attachment/Appendix-Table-How-Much-Do-Medicare-Beneficiaries-Spend-Out-of-Pocket-on-Health-Care. Healthcare cost as percentage of portfolio income is based on the assumption 5% of the portfolio will be taken per year.
Results will vary and are subject to change. Fisher Investments does not warrant or guarantee the accuracy of this calculator. For personal use only. The information you provided regarding health and life expectancy are used solely for this calculator and will not be retained for future use.
