Retirement Planning Resources

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The tools and learning library are designed to help you plan for retirement, including through IRAs and other types of retirement investments. We also include links to Retirement Central, powered by our partners at CUNA Mutual Group. Use the IRA Center to learn more about IRAs, ESAs, and HSAs, to make calculations, and to open the accounts online.

Calculators

• Calculator: How Will Retirement Affect My Expenses? Calculate your current monthly expenses to help you to estimate your monthly expenses in retirement. You enter the number of years until you retire and the annual inflation rate (inflation has averaged between 2 and 3 percent over the past 15 or 20 years). Results will show your current and future estimated expenses, both adjusted and unadjusted for inflation.
• Calculator: Am I Saving Enough? What Can I Change? This calculator tells you for how long your living expenses after retirement will be fully funded. It helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: How Will This Account be Used? This calculator tells you how much you will be withdrawing from your retirement accounts, how much you will earn from them in total, and what your total income tax and penalties will be given those amounts. It then shows you these figures in year-by-year tables. It helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: What Will I Earn with This Account? This calculator tells you how much you will be contributing to your retirement accounts, how much you will earn from them in total, and what your total income tax and penalties will be given those amounts. It then shows you these figures in year-by-year tables. It helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: How Advantageous is Increasing My Savings? This calculator uses graphs to show how the size of your retirement fund increases in direct proportion to larger monthly contributions, and how making larger monthly contributions is able to provide for your retirement needs for longer periods. It helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: Which Savings or Income Source Will be the Largest? This calculator uses graphs to depict how your money will be distributed among your accounts at age 67, and to depict your sources of retirement income during the year you indicate. It helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: How Much Can I Contribute to My Retirement Plan Each Year? Calculate your maximum tax-deductible or allowable contributions to a regular or Roth IRA. Also calculate your contribution limits to certain types of employer-sponsored retirement plans (including 401(k), Roth 401(k), SEP, SIMPLE, and Keogh plans).
• Calculator: What If I Underestimate My Expenses? This calculator use a graph to show exactly how monthly increases in expenses over what you had anticipated will reduce the number of months that your retirement expenses are covered by your savings and income. It helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: What Will My Income be After I Retire? This calculator use a graph to show year-by-year how much you will receive from your various sources of retirement income, including fixed income, taxable, and tax-deferred sources. It helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: What Will My Expenses be After I Retire? This calculator use a graph to show year-by-year how much you will have to pay out during retirement, in living expenses and taxes. It helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: What Happens if Tax Laws Change? This calculator use graphs to show how much your retirement funds are reduced by any increasing tax rates prior to retirement, and also how the tax rate has a direct impact on the age at which your retirement funds will be depleted. This calculator helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: How Much of an Effect Can Inflation Have? This calculator use a graph to show much more quickly your accounts will be drained when inflation increases. Extreme, unanticipated increases in the cost of living due to inflation can seriously affect the ability of your retirement fund to sustain you as planned. This calculator helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: Which Savings Should be Used First? If you have multiple accounts of various sorts contributing to your retirement, we'll help you determine the best order for you to withdraw from them in order to minimize your taxes and maintain steady withdrawals. This calculator helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.
• Calculator: How Much Will Social Security Provide After Retirement? Estimate your future Social Security benefits. This calculator considers your age, expected length of retirement, and any additional income you expect to earn after you are eligible to receive benefits. Results show in year-by-year tables and graphs.
• Calculator: What if Social Security No Longer Exists? Are you concerned that Social Security retirement benefits will no longer be available by the time you retire? This calculator lets you compare how much your retirement would be funded with Social Security benefits included and without Social Security benefits. It helps you to answer key questions related to achieving your retirement goals, and considers your age, expected length of retirement, estimated living expenses, Social Security benefits, taxable vs. tax-advantaged savings, inflation, and more.

Reference

• IRA Comparison Chart [pdf] Compare and contrast the three main types of IRAs (Individual Retirement Accounts) and ESAs (Education Savings Accounts).
• IRA and ESA Frequently Asked Questions (FAQs) Frequently Asked Questions about the three main types of IRAs (Individual Retirement Accounts) and Coverdell ESAs (Education Savings Accounts).
• To Roll or Not to Roll: Rollover FAQs (Frequently Asked Questions) If you are preparing to retire or have recently changed jobs, you may need to decide what to do with the money in your previous employer's retirement plan. You have a few options to consider and we're here to help.

Learning Library

• Defined-Contribution Plans, Such as a 401(k) Fewer and fewer companies these days offer their employees traditional pension plans. Instead, you are more likely to be a defined-contribution plan, such as a 401(k), with a benefit that depends upon how much you and/or your employer contribute during your working years. Learn more about about how this affects you.
• Regular IRAs and Roth IRAs Learn the differences between the two most popular types of IRAs: Traditional IRAs (a.k.a. Regular IRAs) and Roth IRAs.
• Taking IRA Distributions At a certain point in your life, you will need to start withdrawing from your IRA. These withdrawals are also called distributions. Learn about the when minimum withdrawals are required, and how much you must withdraw each year, and the impact it may have on your taxes.
• SEP plans and SIMPLE Plans Learn about these retirement plans offered by small businesses, which offer the same advantages as 401(k) plans. Includes info about Savings Incentive Match Plan for Employees (SIMPLE) and Simplified Employee Pension (SEP) plans, as well as Qualified Plans.
• Converting IRAs to Roth IRAs, Roth Rollovers Roth IRAs have some features that make them more attractive than regular IRAs. Understand why you may want to convert your IRA to a Roth IRA, and what the implications are for such a conversion.
• Moving Your Retirement Plan, Rollovers When you change jobs and leave an employer that has a 401(k) or other defined-contribution retirement plan, you usually arrange to transfer your retirement account. Learn how to do so while avoiding penalties and income tax on the withdrawal, and rules related to this action.
• Taxation of Company Stock If you take a lump-sum distribution when you retire, you may be concerned with a potentially large tax bill from the increased value of company stock in your plan. This article will help you understand how the taxes on such company stock can be deferred.
• Long-Term Care Insurance Long-term care insurance provides financial support if you become unable to perform basic activities of daily living (ADLs). Learn what to look for in a long-term care policy.
• Buying Life Insurance Learn about the different types of life insurance you can get.
• Buying Variable Annuities Life insurance companies sell variable annuities, which are tax-deferred investments. If you buy a variable annuity, you select from a range of mutual fund-like investments called subaccounts. Learn more here.
• Rebalancing Your Portfolio As you approach retirement, you are likely to be more adverse to risk in your stock portfolio, and therefore want to shift to more conservative investments. This is known as rebalancing. Learn more about strategies involved.
• Your Social Security Benefits What is Social Security, and much can it aid in your retirement expenses.
• Estate Planning & Taxes Estate planning is the process of naming beneficiaries and managing the tax consequences of passing your wealth to those institutions or individuals. If your estate exceeds a certain value, you owe estate taxes. Learn more here.
• Retirement as an Opportunity Read our tips on how to enjoy your retirement. Your career might be over, but a new period of freedom begins.

Retirement Central

• Investment Planning Tools Informed planning is one of the cornerstones of an effective retirement strategy. We've provide you with a wide-variety of planning tools and calculators covering numerous aspects of retirement planning, from selecting the best type of IRA to designing a retirement income strategy that best fits your personal objectives.
• Retirement Planning FAQs (Frequently Asked Questions) Got questions? If so, you've come to the right place. Within this section of Retirement Central, you'll find answers to the most commonly asked retirement planning questions.
• Life Stage Planning Whether you're just staring a career, or already in retirement, the decisions you make today will help to shape your future. In this section, you have the opportunity to explore some of the key topics you should consider at various life stages to help ensure a successful retirement.

Retirement Central is powered by our partners at CUNA Mutual Group. Use it to learn more about IRAs, ESAs, and HSAs, to make calculations, and to open the accounts online.