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About Retirement Calculator, Inc.

CBS The Early Show

Watch the video clip

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• Analysis of the Economics of Early Social Security Withdrawal

• FREE Retirement Calculator recommended by Ray Martin on the CBS Early Show - Watch the video clip
• FREE Retirement EBook written by Bill Losey, America’s Retirement Strategist
• FREE Retirement Intelligence Information Services Newsletter
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• FREE Consultation with a certified financial advisor in your area

Find Retirement Income

Where Will You Find Retirement Income?

Where will you find retirement income? Though some people will read that question and think that their best shot at finding retirement income will take grabbing a shovel and heading out into the yard hoping that someone once buried cash in the backyard, you are likely to discover that, with some careful planning, you will be able to find retirement income within the money that you have already started to save and invest. Similarly, those who pull out treasure maps and consider mining for diamonds and gold are likely to find that they are able to focus on building an income, regardless of where they are starting from.

You may be reading this and thinking, "Yeah, right," but rest assured that it's true. Just as those who have saved and invested wisely for years are able to feel confident that they will have the money that they need in order to relax, travel, cover medical expenses, move to an active adult community - or anything else that they have been looking forward to throughout their working lives - it's possible for you to save, invest and achieve all of your goals. You just need to take advantage of access to the right tools.

The first of those tools is the retirement calculator that you can download from this page. With that calculator, if you have already been saving and investing, you will be able to look at your accounts as well as stocks and bonds to see whether or not they are performing in a way that will help you to reach your financial goals. If you are not headed in the right direction or you are looking for ways to increase the income you have available, you will be able to look at other stocks and how they would affect your portfolio before moving so much as a penny of your money.

If on the other hand you are trying to find retirement income and have not started saving and investing, you'll still benefit from the retirement calculator. Just as those who are looking to find more retirement income can see how different stocks, mutual funds and even savings accounts are going to perform, you can look at your options to determine the best plan of action - a plan that will let you find the retirement income that you are going to need to have available.

Of course, that doesn't mean that you will be left on your own to figure out how to find retirement income. Whether you are using the retirement calculator to get more information or because you want to start saving and investing in your future, you will be able to talk with a financial advisor in your local area to ask questions and figure out the right course of action for achieving your goals. The financial advisor will call you - you won't even have to seek out an advisor.

As a result, you will have the opportunity to find retirement income that you were not aware that you already had - to find retirement income that's just right there waiting to be discovered.

Find a Qualified Financial Planner in Your Area

Do You Know the Answers to These Important Retirement Questions?

• Are you retired or thinking about retiring?
• Do you have enough money to comfortably live throughout your retirement years?
• Would you like FREE face to face advice or retirement consulting from a trusted local financial advisor?
• Are you looking for help to achieve your long-term financial goals?
• Would you like to learn more about Annuities, 401's, Life Insurance and Long Term Care?

Would you like to retire, but aren't sure you can?

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Everyone who has thought about retirement has asked themselves these and other questions. Now you can get ALL the answers in Retire in a Weekend! This short, simple, humorous, easy-to-understand book answers the 10 most popular questions and addresses the 5 biggest concerns people have about retiring! So stop asking yourself IF you can retire ... with Retire in a Weekend! you'll learn HOW to actually do it.

For a limited time, purchase Retire In a Weekend for $29.95 and receive a free download of Retirement Calculator Premium.

Analysis of the Economics of Early Social Security Withdrawal

Robert J. Phillips
Chief Retirement Consultant

Deciding whether or not to take the early withdrawal of social security at age 62 can be difficult. If you need this income at 62 to fund your retirement the decision is fairly straightforward. Take it early! On the other hand, if you have another source of revenue to fund your retirement your decision will be primarily based on lifestyle, health and investment preferences.

Several factors can affect your decision. First is your life expectancy. If you are in good health and have a family history of living beyond 90 then waiting for full benefits may be best. Two other factors impact this decision. First and most important is the value of money or your expected return from your investments. If you are using other investments instead of social security to fund your retirement you should use the rate of return of these investments as your value of money. There is another way to look at the value of money. If you do not require the social security money to live, you can invest the distributions for the future. The rate of return of this investment is your value of money. If your investments will make larger returns such as stocks this would favor taking the early withdrawal.

The last factor impacting your decision is inflation. Social security includes an annual adjustment based on inflation. You cannot control this variable but you should be aware of its impact. If future inflation is significant it will favor a later full distribution

FREE Social Security Calculator:

We developed a calculator to assist in analyzing the impact of taking early benefits at age 62 or waiting for full benefits at age 66 to 67 depending on the year you were born...If you were born in 1960 or later your full benefits will begin at age 67 and your reduction for early benefits at age 62 will be 30%. If you were born between 1946 and 1960 your full benefits begin as early as age 66. We have included a chart that summarizes information.

To use the calculator you need to input your year of birth. You also need to input a value of money up to 10% and a projected inflation adjustment. The calculator analyzes income generated over time from both the early and full benefit investments. It calculates the age at which full social security will catch up and breakeven with the early withdrawal. If you were born before 1960 your breakeven age will be impacted by the year you were born. An early breakeven age favors waiting for full benefits.

The social security calculator is not the final answer whether to take an early withdrawal but it does give you additional economic data to assist in that decision. Ultimately you must balance income, investments and lifestyle to optimize your enjoyment during your retirement years.