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Preparing for the Future
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What are the tax savings of a qualified retirement/cafeteria plan?
Implementation of a Qualified Plan and/or Section 125 Cafeteria Plan can result in significant tax savings and benefits to both the employer and employee. Use the following calculator to estimate the potential savings generated by implementing one or both of these plans.
What is my current cash flow?
Businesses generate a sources and uses of cash statement to evaluate their income and expenses and to check profitability. Similarly, a cash flow statement can help you evaluate your personal income and expenses and see if you are running 'in the red or the black' each month.
What is my current net worth?
In order to get where you want to go, you need to know where you are. You can get a view of your financial position by generating a personal net worth statement. Over time your net worth will change as your assets earn interest or are depleted and your liabilities increase or decrease. Use this calculator to estimate what your net worth could be in the future based on specified growth rates.
How much should I be saving for college?
With college costs increasing at twice the rate of inflation, it is important to start saving early. Interest working for you now in a regular savings program is much better than having interest work against you in the future in the form of education loans. Use our college savings calculator to determine how much you should be saving for college on a regular basis.
What would my loan payments be?
The loan amount, the interest rate, and the term of the loan can have a dramatic effect on the total amount you will eventually pay on a loan. Use our loan payment calculator to determine the payment and see the impact of these variables on a specified loan amount complete with an amortization schedule.
How much will I earn in my lifetime?
Most people earn a small fortune during their lifetime. Yet many of them are unaware of how their annual income adds up over the years. This calculator, designed to help you estimate how much you'll earn before you retire, may surprise you with your own earning capacity.
What is my life expectancy?
With medical advances and improved lifestyles, life expectancies in the United States are on the rise.* Use this basic calculator to help determine how many years you may need to plan for in retirement or how many years you may need to provide income to a surviving spouse or children. * Source: National Association of Insurance Commissioners, 2001
Taxable vs. tax-advantaged savings?
Tax-deferral can have a dramatic effect on the growth of an investment. Use this calculator to determine the future value of an investment being subject to income tax each year versus deferring the tax until withdrawal.
What is my risk tolerance?
On your way home from work, do you drive in the slow lane or the fast lane? Each person has a different propensity for risk. When investing, this risk propensity can be used to determine the percentage of your portfolio that is exposed to equities. Complete the following questionnaire to help determine your risk profile.
What is the long-term impact of increased investment return?
It may surprise you how much more you could accumulate in savings simply by repositioning assets to achieve potentially a slightly higher return. Even one, two or three percent return over a short number of years can make a dramatic difference.
How much can I contribute to an IRA?
Many employees are not taking full advantage of their employer's matching contributions. If, for example, your contribution percentage is so high that you obtain the $17,500 (year 2013) limit or $23,000 (year 2013) limit for those 50 years or older in the first few months of the year then you have probably maximized your contribution but minimized your employer's matching contribution.
Should I convert to a Roth IRA?
Roth IRA is a great way for clients to create tax-free income from their retirement assets. Yet, keep in mind that when you convert your taxable retirement assets into a Roth IRA you will generally pay ordinary income tax on the taxable amount that is converted. The conversion amount is not subject to the 10% early distribution penalty. Your tax-free potential is maximized if you pay the taxes from your current income or personal savings and not from your IRA. Individuals of all income levels are eligible to convert to a Roth IRA.
How does inflation impact my retirement income needs?
It may surprise you how much inflation can erode purchasing power. Use this calculator to estimate how much more income you may need when factoring in inflation between now and until you reach retirement to keep the same standard of living that you may have today.
How much will I need to save for retirement?
Retirement can be the saddest or happiest day of your life. This pre-retirement calculator will help you determine how well you have prepared and what you can do to improve your retirement outlook. It is important that you re-evaluate your preparedness on an ongoing basis. Changes in economic climate, inflation, achievable returns, and in your personal situation will impact your plan.
When should I begin saving for retirement?
A penny saved is a penny earned, but a penny saved today is a penny potentially earning more. Use this calculator to determine how much more you could accumulate at retirement by beginning your savings plan today rather than waiting.
How much should I save to reach my goal?
What are you saving for: a computer, car, boat, summer home, down payment? Use this calculator to determine what you need to save on a regular basis to have the funds ready when needed.
Calculate rate of return
The rate of return (ROR), sometimes called return on investment (ROI), is the ratio of the yearly income from an investment to the orignial investment. The initial amount received (or payment), the amount of subsequent receipts (or payments), and any final receipt (or payment), all play a factor in determining the return. Use this rate of return calculator to calculate these returns.
How long until my savings reach my goal?
Compound interest can have a dramatic affect on the growth of a single deposit. Use this calculator to determine how many years an existing savings account will take to reach your stated objective.
What could my current savings grow to?
Compound interest can have a dramatic effect on the growth of series of regular savings and initial lump sum deposits. Use this calculator to determine the future value of your savings and lump sum.
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