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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 |
|
4.49% |
|
4.33% |
| 15 yr fixed mtg |
|
3.90% |
|
3.85% |
| 5/1 ARM |
|
3.36% |
|
3.39% |
| 30 yr fixed jumbo mtg |
|
5.38% |
|
5.48% |
| 5/1 jumbo ARM |
|
3.96% |
|
4.20% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| $30K HELOC |
|
5.05% |
|
5.06% |
| $50K HELOC |
|
4.79% |
|
4.81% |
| $30K home equity loan |
|
7.48% |
|
7.50% |
| $50K home equity loan |
|
7.37% |
|
7.42% |
| $75K home equity loan |
|
7.40% |
|
7.44% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 36 month new car loan |
|
6.08% |
|
6.08% |
| 48 month new car loan |
|
6.16% |
|
6.16% |
| 60 month new car loan |
|
6.22% |
|
6.21% |
| 72 month new car loan |
|
4.23% |
|
4.23% |
| 36 month used car loan |
|
6.49% |
|
6.48% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 6 month CD |
|
0.76% |
|
0.76% |
| 1 yr CD |
|
1.10% |
|
1.09% |
| 5 yr CD |
|
2.30% |
|
2.31% |
| 1 yr IRA CD |
|
1.01% |
|
0.90% |
| 5 yr IRA CD |
|
2.26% |
|
2.29% |
Understand Borrowing From Your 401k
Retirement Calculator, Inc.borrowingfrom401k.com
Understand borrowing From Your 401k Have you considered borrowing from your 401k? Maybe you have high medical bills, or your kids are about to start college and you need to find a way of paying their tuition bills. Maybe you're about to purchase your own home and you need the money for a down payment. Or maybe you're thinking about borrowing from your 401k, not because you want to purchase a home but because you are at risk for being evicted. All of those financial hardships are reasons that the government considers reasons for borrowing from your 401k. Although borrowing from your 401k is acceptable under these circumstances, it still comes with taxes and penalties. Because of the taxes and the 10 percent penalty that you will have to pay for borrowing from your 401k, you may be discouraged and uncertain. Because of the penalties and the taxes that need to be paid, it is important that you look at a variety of other ways to get the money that you need before borrowing from your 401k. But what other ways of getting the money that you need are there? You can look into bank loans. You can use credit cards. But what if the only savings that you have is the money that you have put towards you retirement? If the only savings that you have is for your retirement, and you are thinking about borrowing from those savings -whether a 401k account or another type of IRA -you need to be aware of your options. More than that, you need to understand how making a withdrawal from your retirement savings now will affect the income that you have available when you retire. How can you learn more about your savings and investments? One way is to click the red button at the bottom of this page and to download our free retirement calculator. We're offering you this powerful, easy to use, free tool because we know that when you are more aware of how your savings and investments work, you will be better able to understand what your financial future will look like. When you understand your financial future, you will be able to make more informed decisions about borrowing from your retirement savings. With our free retirement calculator you will be able to:
And because we know that borrowing from your 401k or any of your retirement savings accounts can be a scary thing, we want you to be sure that you're making the right decisions. That's why, when you download our free retirement calculator, you will also receive a free one-on-one consultation with a financial advisor. During that consultation, you'll be able to ask the questions that you have -both about borrowing from your 401k and about your financial planning in general. You'll get the answers that you need so that you can decide whether or not borrowing from your retirement savings is a good choice for you. But even more than that, you'll be able to discuss other savings and investments strategies, other financial plans that will ensure you that -regardless of the financial hardships you may have now -you'll be able to achieve all of your financial goals. So what are you waiting for? Why not take advantage of our research, understand your savings and investments and learn how you can put your retirement savings to work for you -both now and in the future? All it takes is a click of the red button to get started. |
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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.
