Updated in January 2018!
These easy-to-use Financial
Planning Tools will help you explore various questions that you may have
from time to time. Please take a few minutes to find out what each one
can do to help you better understand specific questions that may occur
to you. We have arranged them in general order of importance to the
planning process for many clients. To use each tool, click on the
highlighted title at the left of the description and begin working with
These new calculators allow you to use them everywhere you have a
browser. Phones, tablets, touch pads, desktops, laptops, just about
everywhere! The minimum browser requirement for these calculators
457 Plan: Roth vs.
A 457 plan contribution can be an effective retirement
tool. The Roth 457 plan allows you to contribute to your 457 account on
an after-tax basis - and pay no taxes on qualifying distributions when
the money is withdrawn. For some investors, this could prove to be a
better option than contributing on a pre-tax basis, where deposits are
subject to taxes when the money is withdrawn. Use this calculator to
help determine the best option for your retirement.
Retirement Planner with Retirement Earnings
Do you know what it takes to work towards a secure
retirement? Use this calculator to help you create your retirement plan.
View your retirement savings balance and your withdrawals for each year
until the end of your retirement. Social security is calculated on a
sliding scale based on your income. Including a non-working spouse in
your plan increases your Social Security benefits up to, but not over,
Penalty Free Withdrawals
The Internal Revenue Code section 72(t) and 72(q) can allow for penalty free early withdrawals from retirement accounts under certain circumstances. These sections can allow you to begin receiving money from your retirement accounts before you turn age 59-1/2 generally without the normal 10% premature distribution penalty. Use this calculator to determine your allowable 72(t)/(q) Distribution and how it maybe able to help fund your early retirement. The IRS rules regarding 72(t)/(q) Distributions are complex. Please consult a qualified professional when making decisions about your personal finances. Please note that your financial institution may or may not support all the methods displayed via this calculator.
Impact of PFW
The Internal Revenue Code section 72(t)
and 72(q) can allow for penalty free early withdrawals from retirement
accounts under certain circumstances. The IRS limits how much can be
withdrawn by assuming any future earnings will be at most 120% of the
Federal Mid-Term. This conservative approach can help assure that you
will not prematurely deplete your retirement account. However, if you
have a higher rate of return your account can actually grow, even with
your distributions. On the other hand, if you suffer losses your account
balance may end up shrinking faster than you might expect. This
calculator is designed to examine the affects of 72(t)/(q) distributions
on your retirement plan balance. The IRS rules regarding 72(t)/(q)
Distributions are complex. Please consult a qualified professional when
making decisions about your personal finances. Please note that your
financial institution may or may not support all the methods displayed
via this calculator.
Long Term Care
Long term care is needed by those who can't perform the basic tasks required to take care of themselves. This can include people suffering from a debilitating illness or chronic injury. The need for long term care can arise unexpectedly, often creating a large financial burden. This calculator can help you determine if you are financially prepared for this impending expense.
Roth IRA Conversion with Distributions
the Roth IRA was introduced. This new IRA allowed for all gains (or
growth) to be distributed completely tax-free provided certain
requirements are met. Since then, people with incomes under $100,000
have had the option to convert all or a portion of their existing
traditional IRAs to Roth IRAs. Starting in 2010, all IRA owners,
regardless of income level, will be eligible to convert their
traditional IRA to a Roth. Is this a good option for you? A conversion
has both advantages and disadvantages that should be carefully
considered before you make a decision. This calculator estimates the
change in total net-worth, at retirement, if you convert your
traditional IRA into a Roth IRA. It also allows you to compare the
impact of future Required Minimum Distributions between these accounts
for both the owner and their future beneficiaries.
Roth IRA Conversion
This calculator estimates the change in total net-worth, at retirement, if you convert your Traditional IRA into a Roth IRA.
Personal Economic Recovery Calculator
Recovering from a devastating investment loss takes both time and very often new contributions. Even a very large investment loss can be recouped if you are able to leave your money invested and begin adding new money. This calculator helps you determine what it might take to regroup, rebuild and re-grow after such an investment loss.
Required Minimum Distributions
The IRS requires that you withdraw at
least a minimum amount - known as a Required Minimum Distribution - from
your retirement accounts annually, starting the year you turn age
70-1/2. Determining how much you are required to withdraw is an
important issue in retirement planning. Use this calculator to determine
your Required Minimum Distributions.
Do you wonder how much you might receive
in Social Security? Use this calculator to help you estimate your Social
Analyze your budget, see where your money goes and find out
where you can improve!
This tool helps you determine
your net worth. It also estimates
how your net worth could grow (or shrink!) over the next ten years.
Life Insurance Needs
How much life insurance do you really need? Find out here!
Information and interactive calculators
are made available to you as self-help tools for your independent use.
We can not and do not guarantee their accuracy or their applicability to
your circumstances. We encourage you to seek personalized advice from
the qualified C. E. Humphrey Associates professionals regarding all
personal finance issues.