If you’re like most people, the answers to these questions are “I don’t know.” In an effort to help you answer these questions, ING developed My RetirementWIZARD.
|My RetirementWIZARD is a free, interactive calculator that will help illustrate what it might take to eventually reach your objectives. It features a retirement and paycheck analysis integrated into one web-based calculator.
Retirement Analysis - Estimate how much you need to save annually—and per paycheck—in order to eventually reach your financial objectives tomorrow. The analysis takes into account current retirement savings, Social Security retirement benefits, pension plan benefits, and ongoing 403(b) plan benefits.
Paycheck Analysis – After completing the Retirement Analysis, you can illustrate how various retirement plan savings amounts might impact your take-home pay today.
If you wish to itemize your current paycheck and identify how much you can afford to save in the plan, you will also need a copy of a recent pay stub.