How old would a person currently be if they were born September 11, 1992?
It's called a calculator, bud. [:
sixteen because: 2008 – 1992= 16
16? trick question?
u forgot the word 'on' lol
Archive for Calculator
I am 23 years old and just started a new job 6 months ago. I only get paid like…$1500 a month and am putting away only $100 per month towards my 401K. the company I work for has a really great "model allocation" full of stocks and bonds that are supposedly ideal. (For example, the SMP(?) I think, was down -4-8% last year, and they were at 8%) I don't even know what that means, but that's what they said. So anyway, it's a good deal. however, I don't want to stay with this company forever. here are my questions:
1. is a Roth IRA better? should I do both?
2. I want to retire early. I know this depends on how much money I make in my job, but how much money do I need to contribute monthly to retire at like…49? is there a calculator?
3. Why put money into CD's? is it just a savings account that gives you more money in the end?
4. If I leave my company, should I invest in the big companies like GM, GE, etc…instead of the next company I work for?
Check out this site, it has a calculator and such and is written for someone who doesn't have a finance degree. good luck.
There's a great book you should read: "Investing For Dummies." It covers all the basics.
1-go with Regular 401k plan – not Roth
2- in order to retire at 49 , you would have to save more than half or your take home pay every payday and live live a very poor person until and after you retire – age 49 is not realistic, especially if you are only making 18000/yr with only 26 yrs to go and you're just getting started saving – unless you have at least $500,000 in your retirement fund by age 62, you probably won't even be able to retire then
3-CD's pay a lot more than a regular savings account, but still not even enough to keep up with inflation
4-no idea
spread your 401k money around to 3 different types of funds to spread the risk
With $1500 a month, you are probably doing all you can at $100 a month is savings.
a Roth IRA can be better in the long run because when you retire all of the money in the account is tax free. but with a Roth IRA you do have to make the investment decisions yourself although there are mutual fund companies that you can set up the account with that offer retirement plans that are virtually no brainers.
There are calculators that will help work out these numbers. here is a straight foreward one at Yahoo.
finance.yahoo.com/calculator/reti…
Why put money into a CD? the only reason I can think of is because one should have a ready cash hord in case the need arises. a money market account would be better but a CD might do. about 10% of your annual salary at least.
If I leave my company? that question puzzles me somewhat. are you investing all of the 401k in company stock of the company you work for? If you are that is a very very risky proposition especially for retirement money. It is ok to invest a portion in company stock but that portion should under no circumstances be more than about 10% of your investments. too risky.
I believe what you should do is invest in a diversified pool of investments. almost all 401k plans provide such options if not all. you want to spread the risk.
Invest in Real estate!! by time you are 49 you can sell and have more equatity than you would any 401K plan. email or call 1-888-292-0704 I will help you get started. the reason I have the 800 number so it is not long distance for anyone to call. I work with a group of Investors that would love to train you the right way to invest!!
Comments (0)
Categories : 401k calculator
Points to Expect with Retirement planning Calculators
With retirement planning, there are a lot of aspects to take in so that you will be able to program a realistic retirement plan that will grant you a effective retirement. As it is a complex procedure to factor in everything, having the aid of a retirement planning calculator enables you to locate out how much you will need to save for retirement. Discover out what you are expected to share with the calculator to do just that.
Retirement planning calculators can differ from 1 yet another, but they normally need the exact same data to come up with the most basic calculations. to start off, you will require to contain your present age, the age you hope to retire at, your gross retirement income, interest as well as inflation rates. These figures can significantly affect the outcomes, so try to be as accurate as possible. what the calculator would basically do is to calculate the percent of your income that you will will need to keep aside into your savings in order to support your retirement lifestyle.
Some of the much more sophisticated calculators will ask questions about your family members genetics, general well being conditions and lifestyle, such as whether you smoke or not since these would truly impact your life expectancy when compared to the norm, or the need for medical attention. taking these into account tells you how long you will roughly will need to live on your retirement savings and income, which also affects the quantity of money you will require to save at present time. Knowing this can be valuable also simply because you will be able to take action towards your way of life for far better living.
The calculator will also calculate the annual rate of return that you can expect from the savings or investments you have throughout your retirement, such as from the 401k, IRA, Roth IRA, Social Security, and other investments you might have.
As mentioned previously, there are several retirement planning calculators obtainable. Thus, you could want to attempt distinct ones to figure an average quantity of savings you will will need. far better to get more than 1 opinion when it comes to securing your future.
Much more Retirement Strategy Calculator Articles
Planning Your Retirement: how to Ensure you are Ready for Retirement
“Announcing planning Your Retirement: how to Ensure you are Ready for Retirement”
Keep your eyes glued to this page, because turning back now may be the most costly, AND regrettable decision you will make for the rest of your life – with serious consequences for many years to come.
You see, there’s nothing that a person dreams of more than the day when they can finally sleep-in as late as they want, go on the vacations they’ve saved up years of money for, and pursue their childhood passions, right?
Your retirement can be all these things – and more.
In the past, retirement was as simple as working for 40 years, saving a bit of money, and retiring.
But in this day and age, retirement is a complicated process that can require endless “blueprints” of preparation materials just to work out the planning stages.
What You’ll Learn:
•How to Steer Clear Of The Financial Pit-Falls That Haunt Mi
Price: $ 2.99
Planning For Retirement !
Essential: planning For Retirement !
Retirement Checklist are you PreparedRetirement planning 5 Reasons you should Meet aFinancial AdvisorRetirement planning Mistakes you Need to AvoidRetiring should you Rent or Own a HomeSaving for Retirement at 20Saving for Retirement at 30Saving for Retirement at 40Saving for Retirement at 50Saving for Retirement at 60Saving for Retirement when Running a Small BusinessSaving for Retirement when Working from HomeSaving for Retirement Why Flexibility is ImportantTips for Helping Your Parents plan for RetirementForced Into Retirement what Y
Price: $ 2.99
Comments (0)
Categories : retirement calculator
This calculator I found says my 401K will be worth 4 million when I retire at age 65
I'm 23, I put 12,000/year into my 401K… how does this add up to 4 million.. and if I retire how do I get the money?
Its called compounding interest (or the time value of money). Your money makes money. at 8% over 42 years that really adds up (multiplies really). And I don't think an average of 8% is all that aggressive. If you could earn an average of 9% you'd end up with $5.6MM. You can see what a huge difference 1% makes over that many years. The trick is to do it for a long period of time and ride out the tough years but don't get crazy in the boom years either. Steadily contribute and don't touch the money until you're 65.
Comments (0)
Categories : 401k calculator
My goal is to get into a lower tax-bracket through the use of tax-deferring tools. I make approximately $40,000 a year, of which about $7,000 is overtime. I am single and live with several roommates. I believe I fall into the $30,650-74,200 tax bracket (Schedule X-Single). What would I need to do to get into the Head of Household bracket? ($10,750-41,050, Z-HoH) Is that a marriage thing or would I be eligible if I lived on my own?
In August my 401K kicks in, and I'll be putting the full 6% in, about $2,400 a year deferred I believe. some calculator I found on Quicken.com says at about my rates, "Investing in a 401(k), instead of receiving the money as taxable salary, cuts your annual income tax by $792.00."
What else can I do to get into a lower bracket? IRA? (which type) maybe talk to my employer about a HSA? those are tax-deferred I believe. Any other tools I can use that would benefit me down the road? other ideas? I'm grateful for all help, thanks.
To qualify as "Head of Household" you must keep a home for a qualifying child or a qualifying relative among other criteria. It sounds as if you live with "friends". you must also supply the majority of thequalifying child's (or relative's) total living expenses.
You can only file as head of household if you provide more than half of the cost of keeping up a home for a dependent who is a close relative – a parent or a child for example.
As to your bracket of 25%: even without the 401K, last year you would have only had $40,000 – $8400 or $31,600 of taxable income, so only $950 of it would have been taxed at the 25%. The way the brackets work, only the amount of income over that bracket limit gets taxed at the higher rate, not all of your income. So putting $2400 a year into a 401K will mean your bracket is 15%.
To get into a lower tax bracket, try the following options if your employer has them.
1. Max out your 401(k). Depending on your employer, you can either put away up to 15% or $15,500 a year. 6% is usually the minimum amount to put away to get the full matching from an employer.
2. Have your health insurance deduction taken out pre-tax. There are certain benefits that can be taken out pre-tax. It isn't going to save you much in taxes, but every little bit helps.
3. use a flexible spending account. Estimate your out of pocket medical bills for the year and have that amount taken out of your check pre-tax.
4. Open a Traditional IRA. you have to do this on your own. but you may be able to have money deferred into an IRA directly from your employer if you have direct deposit available.
Like the others stated, you have to file your return as single, not head of household.
You can do foster care — get deductions for kids you take care of on a temp basis.
Comments (0)
Categories : ira calculator