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About Retirement Calculator, Inc.
Retirement Calculator, Inc. provides the tools and resources necessary to assist you in making critical economic decisions regarding your retirement future.CBS The Early Show
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Asset Allocation
Often financial "experts" make asset allocation difficult to understand. My goal in this series of articles is for you to understand asset allocation thoroughly, in an easy to understand format.- FREE Retirement Calculator recommended by Ray Martin on the CBS Early Show - Watch the video clip
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| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 30 yr fixed mtg |
|
5.00% |
|
5.03% |
| 15 yr fixed mtg |
|
4.35% |
|
4.38% |
| 5/1 ARM |
|
3.87% |
|
3.91% |
| 30 yr fixed jumbo mtg |
|
5.82% |
|
5.87% |
| 5/1 jumbo ARM |
|
4.47% |
|
4.49% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| $30K HELOC |
|
5.12% |
|
5.13% |
| $50K HELOC |
|
4.85% |
|
4.85% |
| $30K home equity loan |
|
7.82% |
|
8.15% |
| $50K home equity loan |
|
7.71% |
|
8.10% |
| $75K home equity loan |
|
7.73% |
|
8.14% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 36 month new car loan |
|
6.64% |
|
6.69% |
| 48 month new car loan |
|
6.77% |
|
6.85% |
| 60 month new car loan |
|
6.83% |
|
6.89% |
| 72 month new car loan |
|
6.03% |
|
6.03% |
| 36 month used car loan |
|
7.00% |
|
7.08% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 6 month CD |
|
0.80% |
|
0.82% |
| 1 yr CD |
|
1.20% |
|
1.24% |
| 5 yr CD |
|
2.57% |
|
2.61% |
| 1 yr IRA CD |
|
1.07% |
|
1.12% |
| 5 yr IRA CD |
|
2.16% |
|
2.39% |
Look Closely At Your 2007 401k Limit
Retirement Calculator, Inc.401klimit2007.com
Look Closely At Your 2007 401k Limit What choices have you made now that it's time to plan for your future? Have you opened an IRA for savings? Have you signed on for your employer sponsored 401k? Or have you been working with a stock analyst to determine which investments you can make that will help you to achieve all of your retirement goals? When you save with either an IRA or with an employer sponsored 401k, there are limits to the amount that you can contribute. 2007 will be no different than other years. The amount that you can contribute to your 401k will depend some upon your employer. There will also be a 401k contribution imposed by the federal government. But are you sure that you want to be limited in the amount that you are able to save for your retirement? Do you want anyone to be able to tell you how much money you can save in your account? That isn't to say that you should stop saving in your employer sponsored 401k. There are benefits to saving with a 401k despite the contribution limits for 2007, most notable of these benefits is the matching contributions that your employer makes. But just because your employer also contributes does not mean that a 401k is the fastest way to grow your savings. What if there were other ways that you could save for your future that would not have a limit imposed for 2007 or any other year for that matter? What if you could evaluate your savings accounts and your investments to know which were the most beneficial to you? There is one easy way for you to evaluate all of the savings and investment accounts that you have. With our free retirement calculator, which you can download by clicking the red button at the bottom of this page, you can take a look at the way that all of your savings accounts - whether they are an employer sponsored 401k or a Roth IRA or annuity accounts - and your stocks, bonds and mutual funds have performed over time. You'll also be able to see how your savings and investments are projected to perform over the next 25 years. The projections will take into consideration the way that changing interest rates and inflation will affect your savings and investments. More importantly, you'll be able to look at the changes that you've considered making to your savings and investment plans. You'll be able to look at the way withdrawals will affect your income now and after you've retired. You'll also be able to look at the way that investing in different stocks or bonds might benefit you more in the long run than the investments that you have now. And after you've had the chance to really look at your savings and investments, you'll be able to ask your questions to a professional financial advisor. When you download our free retirement calculator, you'll receive a free consultation with a retirement counselor. Ask all of the questions you have: Whether or not you should invest more of less in your 401k plan given the 2007 contribution limit; whether or not an IRA or a 401k is better for you. Discuss the changes that you are thinking about making to your investments. And, during your consultation, develop a plan for saving for the retirement that you've always dreamed of - a plan that will ensure that you reach all of your financial goals. In order to invest wisely, you need to understand your savings and investment accounts. You need to understand the 401k limit for 2007 and the years beyond it, and you need to know whether or not a 401k is the best way for you to invest in your future. Find out now whether you're heading in the right direction or if you need some help getting to your destination: Click the red button to download our free retirement calculator today. |
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Retirement Knowledge Center
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- Are you retired or thinking about retiring?
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Analysis of the Economics of Early Social Security Withdrawal
Robert J. Phillips
Chief Retirement Consultant
Deciding whether or not to take the early withdrawal of social security at age 62 can be difficult. If you need this income at 62 to fund your retirement the decision is fairly straightforward. Take it early! On the other hand, if you have another source of revenue to fund your retirement your decision will be primarily based on lifestyle, health and investment preferences.
Several factors can affect your decision. First is your life expectancy. If you are in good health and have a family history of living beyond 90 then waiting for full benefits may be best. Two other factors impact this decision. First and most important is the value of money or your expected return from your investments. If you are using other investments instead of social security to fund your retirement you should use the rate of return of these investments as your value of money. There is another way to look at the value of money. If you do not require the social security money to live, you can invest the distributions for the future. The rate of return of this investment is your value of money. If your investments will make larger returns such as stocks this would favor taking the early withdrawal.
The last factor impacting your decision is inflation. Social security includes an annual adjustment based on inflation. You cannot control this variable but you should be aware of its impact. If future inflation is significant it will favor a later full distribution
FREE Social Security Calculator:
Find Out Your Breakeven AgeWe developed a calculator to assist in analyzing the impact of taking early benefits at age 62 or waiting for full benefits at age 66 to 67 depending on the year you were born...If you were born in 1960 or later your full benefits will begin at age 67 and your reduction for early benefits at age 62 will be 30%. If you were born between 1946 and 1960 your full benefits begin as early as age 66. We have included a chart that summarizes information.
To use the calculator you need to input your year of birth. You also need to input a value of money up to 10% and a projected inflation adjustment. The calculator analyzes income generated over time from both the early and full benefit investments. It calculates the age at which full social security will catch up and breakeven with the early withdrawal. If you were born before 1960 your breakeven age will be impacted by the year you were born. An early breakeven age favors waiting for full benefits.
The social security calculator is not the final answer whether to take an early withdrawal but it does give you additional economic data to assist in that decision. Ultimately you must balance income, investments and lifestyle to optimize your enjoyment during your retirement years.
