Based on the information you provided, your net annual Social Security benefit is shown below:

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2022 Social Security limits are used in this calculator and are based on your age. The limits are typically adjusted annually.

2022 amounts are used for the gross annual Social Security benefit and are based on full retirement age with the applicable percentage reduction for receiving benefits prior to full retirement age.

This chart shows the percentage represented by your net Social Security benefit and the percentage by which your gross annual Social Security benefit could be reduced.

It’s important that you accumulate a large enough portfolio to meet your retirement income expectations. Based on the assumptions you entered, the results below show how long your portfolio would potentially last based on the rate of return and monthly income need you entered.

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Will your portfolio last as long as you hoped? If this estimate does not meet your
expectations, you may want to consider increasing your retirement savings, or consider
whether you may be able to position a portion of your portfolio for potentially
greater gains. But remember, with increased return potential comes increased investment
risk.

Retirement Portfolio Lifespan

This hypothetical illustration does not represent the performance of any particular
investment vehicle. Investments seeking higher rates of return also involve a higher
degree of investment risk. Rates of return will vary over time, particularly for
long-term investments.

Generally, if you withdraw funds from a tax-deferred retirement account and have
not reached age 59 1/2, your withdrawal will be subject to a 10% penalty on the
amount withdrawn. In addition to paying income taxes at the federal level, you
may have to pay state taxes. There may also be a state penalty on
an early withdrawal. State taxes are not considered in this example.

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Whenever possible, it’s generally best to avoid paying early withdrawal penalties on retirement assets. How much of your retirement nest egg would be lost to taxes and penalties if you took an early withdrawal? Note that this example assumes that the account is funded with pre-tax or tax-deductible contributions, and that withdrawn amounts are taxable.

Total taxes and penalties are estimated to be $0.00. After taxes
and penalties, the amount remaining will be $0.00.

There are certain exceptions to the penalty imposed on an early withdrawal. However,
income taxes must still be paid. Consult your tax advisor before taking any action.

Distribution Potentially Lost to Penalties and Taxes

The results below show the projected future cost based on the time frame you selected and the rate of inflation you expect over that period. How will you stay ahead of inflation? There are strategies you can implement to help your savings and investments keep pace with inflation over the long term.

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The graph below illustrates the incremental year-by-year increase in prices based
on the factors you input. Even at relatively low rates of inflation, the cost of
goods and services can rise dramatically over time. For example, assuming 4 percent
inflation, the value of $1 would be cut in half every 18 years. That means if you
are currently 30 years old, prices will have quadrupled by the time you reach retirement
age, assuming 4 percent annual inflation.

Impact of Inflation

Based on the information you provided, the estimated required minimum distribution
is shown below.

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Required minimum distributions generally must begin no later than April 1 of the
year following the year in which you turn 72. They must be taken by December
31 of each year thereafter.

This calculator uses the factors from the IRS’s Uniform Lifetime Table. If your
spouse is your sole beneficiary and is more than 10 years younger than you, an alternate
calculation, which may result in lower RMD amounts, should be used.

This chart shows the portion of your account(s) that you would be required to withdraw
this year based on the information you provided.

Required Minimum Distribution

This calculator is intended only to provide an estimate of your RMD. Your actual RMD may be affected by additional factors, including but not limited to the type of retirement plan and whether you are retired, that can affect your actual RMD.

Examine these results carefully. As you can see, there is a lot of information to consider and the numbers may look large.

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The Cost of Procrastination

How much do you need to save each year to provide your desired retirement income?
This graph shows the amount you would have to save each year to work toward your
goal, at the rate of return you entered, if you started saving today, and if you
wait five years to start saving. As you can see, waiting just a few years can have
a substantial impact on the amount you need to save.

The amount accumulated if you started saving today is $0.00.
The amount accumulated if you save the same annual amount at the same annual return,
but wait five years to start is $0.00.

The information provided is not specific investment advice, a guarantee of performance, or a recommendation. Rates of return will vary over time, particularly for long–term investments. Investments offering the potential for higher rates of return also involve a higher degree of risk.