You might have retirement savings in a 401(k), 403(b), or 457(b) plan, as well as an IRA or cash and investments. Discover the projected date for your retirement based on your financial situation.
App Highlights
- When Can I Retire app computes your retirement age by considering various optional factors such as current salary, annual salary increment, yearly retirement contribution, contribution increase, employer matching contribution, post-retirement expenses, social security benefits, and other retirement income.
- The app takes into account the constraint that you cannot withdraw funds from a 401(k), 403(b), or an IRA prior to age 59 ½ without incurring a 10% penalty. However, withdrawals from a 457(b) plan do not face this early withdrawal penalty.
- The app acknowledges that there is a specified maximum limit for contributions to your employer-sponsored retirement plan. For instance, you can contribute up to $22,500 to your 401(k), 403(b), or 457(b) plan for the current year as per regulations. Additionally, individuals aged 50 and above have a catch-up contribution limit of an extra $7,500.
- The app considers that the total of your contributions and employer matching contributions to a 401(k) or 403(b) plan cannot surpass your salary or $66,000 for the ongoing year as per statutory provisions. An additional catch-up contribution limit of $7,500 is applicable for individuals aged 50 and above.
- It presents a comprehensive overview of both pre-retirement and post-retirement financial plans.
- You are able to send your pre-retirement and post-retirement plans in tabular and graphical formats via email to yourself or others using the app.
- The app securely stores your inputs and maintains them across sessions after calculating your retirement age successfully.
- You can easily distribute the app through Text Message, WhatsApp, Facebook, or Twitter directly from within the application.
Terms of Use: Link to Terms of Use
Overview
When Can I Retire is a Freeware software in the category Business developed by Grow Nest Egg, LLC.
The latest version of When Can I Retire is 8.2, released on 04/04/2024. It was initially added to our database on 02/17/2024.
When Can I Retire runs on the following operating systems: iOS.
Users of When Can I Retire gave it a rating of 4 out of 5 stars.
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