Are you saving enough for retirement?

You may be diligently saving for retirement, but have you ever wondered what your income will actually be when the time comes? Will your retirement income pay the bills, or should you make adjustments now to improve your future circumstances? You can use the Retirement Income Calculator to estimate your future income by factoring in your current savings level, life expectancy, and whether you plan to work part time during your retirement years. Having an idea of what you'll be earning then can help you make adjustments now if you need to.
Amounts entered for "If you work part-time after retirement, how much will you earn?" calculate how much you can draw from your retirement savings. Part-time work and pre-existing savings will both affect the amount available.

Results

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Annual after-tax income	$8,480

Results are computed using a standard future-value calculation and your investments' nominal rate of return, rather than annual percentage yield (APY). Banks are required to advertise APY, which allows direct comparisons between accounts using different compounding schedules. This calculator assumes monthly compounding of interest. Taxes are accrued monthly and paid at the end of each year. The effective tax rate (annual after tax-income) is the amount of tax an individual or firm pays when all other government tax offsets or payments are applied, divided by the tax base (total income or spending). Annual draws are taken at the beginning of each year. This calculator does not include earnings from Social Security. It does include how much a user can withdraw from an investment account during each year of retirement where the user has specified the starting balance in the account, the amount to be left to at the end of retirement, the amount (inflation) by which the withdrawals will increase each year, additional income, if any, from part time work during retirement, the number of years of part time work, the increase to part time work income, if any, during each year of part time work, the length of retirement, the interest rate earned on investments, and the average effective tax rate.