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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.Annuity Payout Calculator
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Know That you Will Have the Money That You Need Now and Once You Have Retired With an Annuity Payout Calculator
There are a number of reasons why people would consider an annuity account as a part of their financial planning strategy. However, of those reasons, there are two that seem to be the most important. The first of these is whether or not they can be sure that they will have the income necessary once they no longer have a steady paycheck coming in from an employer. The second is that people want to be able to calculate whether or not their retirement savings will allow them to have the money they need while they are still working - the money that they need to live the life that they want to have before they retire. Because of these concerns, looking to an annuity company helps some investors to help determine their financial planning strategy. An annuity company will offer an immediate annuity which allows them to begin receiving pay outs right away so that they can have some extra money for vacations or home improvements or tuition payments or any other unexpected financial situations. An annuity company will also offer a deferred annuity in which their money will accumulate before the payout phase starts. With a deferred annuity, the investor will be able to decide when to begin to take pay outs - something that they can often determine with a sort of annuity payout calculator. And, of course, it is possible for them to withdraw portions of the money in their annuity account when they need a little bit of extra cash in their pocket. But just because a number of investors choose to plan for their finances with an annuity account, does not mean that it is the right choice for you. What if you could withdraw from your retirement savings and use other tools as a sort of annuity payout calculator? You could determine how much of your retirement savings you could be using now - in much the same way as someone using an annuity company. What if you could use an annuity payout calculator and know, without a doubt, how much money you could withdraw from your retirement savings each and every year without having a negative impact on your overall savings plan? It sounds great, doesn't it? Of course it does. When you are in control of your own financial planning, you are able to have some assurance that your retirement will be all that your hope it will be. And, in that way, having control over your financial planning gives you the chance to use a sort of annuity payout calculator to see evaluate your retirement savings and how it would be affected if you made a withdrawal from it. What's even better than the ability to control your own retirement, to - in affect - create your own annuity company, is that there is one powerful, easy to use tool that will give you that control. And, not only is it easy to use, but it's also free to download. That's right: you can download a free retirement calculator - which you can use as an annuity payment calculator - by clicking the red button at the bottom of this page. You'll be able to evaluate the performance of your stocks, bonds and mutual funds. You'll be able to get projections that take into consideration the effects of interest rate changes and inflation of how your investments will perform over the next 25 years. You'll also be able to test out different investment strategies without the risk of making the investments and hoping they pay off. This free retirement calculator allows you to explore different what ifs. It allows you to see how the changes you make to your investment strategy will affect your retirement savings. And that is what allows it to be used as an annuity payout calculator; the ability to see how withdrawals from your retirement savings will affect your financial future. In effect, you can use this free retirement calculator to create your own annuity company. And, in the event that you have questions that you need answered, when you download our free retirement calculator, you'll also receive a free consultation with a financial advisor. You'll be able to get expert advice from a retirement consultant who will help you to plan your retirement in the way that is best for you - a way that allows you to feel comfortable even if you want or need to make withdrawals from your retirement savings. Know that you will have all of the money you need - both now and in your future. Click the red button to download the free retirement calculator and take control of your financial situation. |
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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.
