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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 |
|
3.80% |
|
3.76% |
| 15 yr fixed mtg |
|
3.11% |
|
3.02% |
| 5/1 ARM |
|
2.69% |
|
2.68% |
| 30 yr fixed jumbo mtg |
|
4.38% |
|
4.39% |
| 5/1 jumbo ARM |
|
2.94% |
|
2.89% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| $30K HELOC |
|
4.60% |
|
4.59% |
| $50K HELOC |
|
4.24% |
|
4.24% |
| $30K home equity loan |
|
5.77% |
|
5.76% |
| $50K home equity loan |
|
5.50% |
|
5.47% |
| $75K home equity loan |
|
5.47% |
|
5.44% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 36 month new car loan |
|
3.13% |
|
3.13% |
| 48 month new car loan |
|
3.24% |
|
3.25% |
| 60 month new car loan |
|
3.34% |
|
3.35% |
| 72 month new car loan |
|
3.31% |
|
3.31% |
| 36 month used car loan |
|
4.36% |
|
4.36% |
| NATIONAL OVERNIGHT AVERAGES | TODAY | +/- | LAST WEEK |
| 6 month CD |
|
0.46% |
|
0.46% |
| 1 yr CD |
|
0.70% |
|
0.70% |
| 5 yr CD |
|
1.38% |
|
1.38% |
| 1 yr IRA CD |
|
0.71% |
|
0.71% |
| 5 yr IRA CD |
|
1.49% |
|
1.49% |
Take A Retirement Early Withdrawal Without Penalty
Retirement Calculator, Inc.retirementearlywithdrawal.com
| Take A Retirement Early Withdrawal
Without Penalty
How would you be affected be making an early withdrawal from your retirement savings? What if making an early withdrawal from your retirement was the only way that you could cover medical expenses? What if it was the only way that you could afford to put a down payment on a home of your own? What if it was the only way that you could afford to pay for your child's education? If you make a retirement early withdrawal, would you be able to have the money that you need when you actually retire? Would you be able to afford the penalties for making an early withdrawal from your 401k -as well as to pay the taxes on the amount that you withdrew? It makes sense that, when you're making an effort to save for your retirement, you might not always have the cash that you need on hand. And, when that happens, it may mean that you need to make an early withdrawal from your retirement savings. But before you make the decision to make a withdrawal from your retirement savings, it's important for you to know as much as you can about your investments in your financial future. One way to get the information that you need about the savings and investment accounts that you have is to download our free retirement calculator. With this calculator, you'll be able to determine more about your financial security. You'll be able to:
With that information, you'll be better able to determine whether or not making an early withdrawal from your retirement savings is really the best way for you to get the money that you need right now. But if you need to withdraw the money, even if you're not sure that you'll be able to still have the income you need when you retire, don't panic. Not only will you be able to use the retirement calculator to explore other investments that will help you make up for the money you've withdrawn, but also you will receive a free one-on-one consultation with a financial advisor. You'll be able to voice your concerns about the effect a retirement early withdrawal will have on you. You'll be able to ask questions that you have about your savings and investments strategies and get the answers you need to make the early withdrawal from your retirement savings have a less damaging affect on your retirement income. More importantly, you'll be able to work with that financial consultant to develop an even more effective financial planning strategy and to turn that strategy into a plan that you can put into action. Making an early withdrawal from your retirement savings does not mean that you have to suffer the consequences of not having the money that you need when you retire. Find out for yourself how you can withdraw the money that you need now and still save for the retirement that you've always dreamed of having. You'll find that it's easier than you think to have the income you need -both now and when you retire. See for yourself: Click the red button to download our free retirement calculator and get started today. |
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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.
