A retirement accelerator may be one of the best tools that you will come across when you start saving for your retirement. Wondering what a retirement accelerator is? It is a tool that will help you to increase your savings. It helps you in making additional payments as a replacement for your fixed monthly contribution. This is a great way to maximize your contributions, so that you have more money when you retire. Our retirement accelerator has been designed by financial experts that will help you to find the difference in your income level. Contact a Financial Advisor today and build your account balance faster to have a smooth retirement.
The total amount that you pay every year is based on your annual salary and the percentage that you contribute to every year. When you increase your retirement savings, it does not affect your take home pay but affects the federal income tax. This calculator will help you in sorting out all these details. Go to Resources Financial Calculators
The total amount of money without any deductions.
How often you get paid is your pay period.
This is the return that you get on annual basis on your account. The calculator will assume that you deposit monthly but the returns are on an annual basis. Go to Resources Financial Calculators
What your current age is.
The calculator will assume that you will retire at 65.
The percentage increase of your salary on an annual basis. It will be assumed that your salary will increase at the same rate until you retire.
The amount of money that you are putting aside for your retirement plan.
This will take the percentage increase in the employee contribution every year.
The maximum amount of contribution that you can make.
Since our retirement accelerator will be doing all the work for you, it will be easier for you to plan out your future and decide the amount that you need to put aside every month towards your retirement plan.
Want to learn more about our retirement accelerator? Contact the experts at Retire on Track below.