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AGC – International Union of Operating Engineers Local 701 Trust Funds

AGC - International Union of Operating Engineers Local 701 Trust Funds

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Retirement Calculator

Check how well you’re preparing for retirement

The retirement calculator estimates how well your current pension and personal savings are preparing you for retirement. It may be difficult to estimate exactly how much retirement life will cost, but it highlights important expenses you may not have considered.

Enter your current monthly expenses

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Rent or mortgage payments, vacation home, household repairs and maintenance.

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Food, clothing, medical and dental bills, prescriptions not covered by insurance.

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Federal and State, property and real estate, Social Security.

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Gas, electric, telephone, water, cable, etc.

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Car loans, gasoline, car maintenance, and plane, train, bus and taxi fares.

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Recreation costs, dining out, entertainment, travel, club dues, and hobbies.

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Credit and charge cards, personal loans.

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Medical, dental, auto, homeowner, life, long-term care.

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Total monthly expenses
$0.00
Total yearly expenses (monthly × 12)
$0.00
Total yearly retirement expenses (yearly × 0.80)*
$0.00

* 80% of your current expenses are used as an estimate of reduced expenses after retirement. For example, your house might be paid off. This amount is in today's dollars, so you'll need to adjust it upward each year for inflation.

Enter estimates of your monthly retirement income (and your spouse's, if applicable)

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Stocks, bonds, savings account, checking account, real estate.

Total monthly income
$0.00
Total yearly income (monthly × 12)
$0.00

Will you have what you need?

Total annual retirement income
$0.00
Less total yearly retirement expenses
$0.00
Total
$0.00

Enter your expenses and income to see your estimate.

** A positive number means you will have enough income to meet your retirement needs. A negative number means you have a shortfall. You may need to save more through 401(k) Plan contributions, stock and bond investments or personal savings, whatever strategy works best for you.

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