A Newkirk news release said the new estimators include:
- How much can I withdraw? Individuals can select their projected retirement balance and their number of planned years in retirement, and the calculator will provide the amount of funds available for withdrawal without prematurely exhausting the account (based on one of three rates of return).
- How long will my money last? This projects the length of time participant retirement income should last – based on the participant’s anticipated balance, desired monthly income, and anticipated number of years in retirement. The length of time will vary based upon the rate of return, with three rates provided for illustrative purposes.
“The Retirement Payout Estimator gives retirement plan providers another tool to help participants understand their future retirement income needs,” said Pete Newkirk, president of Newkirk. “For many years, we’ve offered a Retirement Planning Calculator that demonstrates the benefits of savings. This new calculator will help focus attention on the amount of funds available on a month-to-month basis for withdrawal after retirement.”
The 4″ x 9″ printed slide calculators are printed in four colors on two sides and are designed to coordinate with most collateral materials, the company said. The printed estimator is available with or without a custom imprint.
The online version of the calculator also includes:
- How much money do I need to have at retirement? Participants will receive a projection of how much money they will need at retirement given their expected needs, anticipated number of years in retirement, anticipated rate of return, and rate of inflation.
The Retirement Payout Estimators are available by contacting Newkirk by phone at 518-862-3226 or by e-mail at email@example.com .