![]() ![]() While federal tax rates are scheduled to revert to pre-2018 levels after 2025, those rates are not reflected in these calculations.ĭata and Assumptions about You. The Non-Social Security Income Replacement Ratio, which varies widely for the Tested Salaries, reflects estimated spending needs in retirement (including a 5% reduction from preretirement levels) Social Security benefits (using the SSA.gov Quick Calculator assuming claiming at full retirement ages and the Social Security Administration's assumed earnings history pattern) state taxes (4% of income, excluding Social Security benefits) and federal taxes (based on rates as of January 1, 2019). ![]() (That withdrawal amount divided by preretirement income equals the “Non-Social Security Income Replacement Ratio”). The withdrawal amount is calculated as the income that we estimate is necessary to support spending in retirement minus estimated Social Security benefits. ![]() In determining the target savings range at retirement, we assume 4% of assets will be withdrawn at age 65 (an annual withdrawal rate intended to support steady inflation adjusted spending over a 30-year retirement). ![]()
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