Help define your retirement goals and expectations
Review your current savings and sources of retirement income
Identify savings shortfalls and ways to overcome them
If your contract offers a retirement plan from The Principal and you're eligible, login to access retirement plan information and planning tools. Click the following link then locate near the bottom of the page a Retirement Planning Calculator. It is a great tool that can help you determine what your expenses might be in retirement and how to plan accordingly.
Information Checklist
Your info from the Principal Financial Group will automatically be entered where applicable, including:
Personal information, such as name and birth date
Current balance in retirement plans, such as 401(k)s, IRAs, etc.
Current balance in other retirement products
Annual retirement plan contributions by you and your employer
Annual defined benefit pension
Any other resources you plan to use for retirement, such as mutual funds or annuities
Items you'll need to enter into the calculator:
Any retirement or investment products you have with other financial institutions
Your current annual earned income
Annual amount you want to spend during retirement*
Annual rate of return you want to assume for your investments
Expected annual Social Security benefit amount*
Other government programs you're eligible for
General info automatically entered, but can be changed to see how it would affect your analysis:
Desired beginning and ending retirement ages
Average annual income increase
Annual inflation rate
Age you would like Social Security benefits to begin
Average income tax rate
*Tools are provided to help you estimate these figures.
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