#Retirement living expenses calculator for free
#Retirement living expenses calculator software

by using its data-driven and objective software called Guaranteed Retirement Analytics for Income and Legacy (GRAIL).

This calculation is done independently by Hedgeness Inc. The Proposed Gap Solution is designed to calculate the investment amount needed today to purchase a variable annuity with an add-on living benefit to cover the estimated Income Gap in the first year of retirement and continue that income payment through the lifetime of the retiree. Your clients should consider their individual situation, including time horizon, risk tolerance, investment objectives and the need for an annuity before investing. Your clients’ individual circumstances may vary. The outcomes presented by the Proposed Gap Solution are provided for informational purposes and are not intended as investment advice or a recommendation. Results may vary with each use and over time. This tool is for illustrative purposes only and is not representative of the past or future performance of any Jackson product. IMPORTANT: The outcomes displayed in the Proposed Gap Solution are hypothetical in nature, do not reflect an individual's actual investment results and are not a guarantee of future results. The general inflation rate is calculated by averaging yearly inflation rates, as published by BLS4 over a 22-year period. In other cases where a negative inflation rate is returned, a general inflation rate of 2.24% is used. The subcategory inflation values are calculated by taking a 22-year average of the percentage change in prices as published by the Bureau of Labor Statistics Consumer Price Index for All Urban Consumers report4.įor cases where the average inflation rate over the 22-year period results in a value significantly higher than other categories, the period is extended to a 54-year period. The weighted inflation values are then averaged together to make a category weighted inflation factor. The weighted inflation factor is calculated first by adjusting each subcategory inflation value based on the weight of the estimated subcategory expense value to the total category estimated expense value. The PCE index tracks changes in price levels and consumer behaviors at the state and national level and is calculated annually. Personal Consumption Expenditures price index (PCEPI)3 2021 was the last year data was collected. It represents an average value over a 39-year period from 1983 to 2021. The CPI-E takes into account spending behaviors in households with a member age 62 or above.

#Retirement living expenses calculator for free

By signing up with Personal Capital for free and aggregating all your accounts in one place, you'll be well on your way toward financial independence.The RPP determines the inputted state’s purchasing power by weighing its average price level of goods and services against other states' averages.Ĭonsumer Price Index for the Elderly (CPI-E)2

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Though you must create Personal Capital login credentials to use them, you don't need to enroll in Personal Capital's advisory service. Our favorite financial management tool is free to use and take less than a minute to sign up.

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We love the free features Personal Capital offers, including the ability to: We believe that Personal Capital is the most comprehensive free financial tool you can find online to manage your finances and track towards your FI date. Now that you’ve calculated your time horizon to financial independence, we strongly encourage you to start tracking your money.