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Any information presented about tax considerations affecting your financial transactions or arrangements is not intended as tax advice and cannot be relied on to avoid any tax penalties. Neither Merrill Edge™ nor its Financial Solutions Advisors provide tax, accounting or legal advice. You should review any planned financial transactions or arrangements that may have tax, accounting or legal implications with your personal professional advisor. Bank of America and its affiliates are not tax or legal advisors. Face Retirement is not intended to offer any tax, legal, financial or investment advice and does not assure the availability of or your eligibility for any specific product offered by Bank of America, its affiliates or any other institution, nor does Face Retirement predict or guarantee the actual results of any investment product. The terms and conditions of products offered by institutions will differ and may affect the results of the calculator. You shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs. Please consult with qualified professionals to discuss your situation.
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The results provided by the Face Retirement tool are intended for illustrative purposes only and accuracy is not guaranteed. The results should not be relied upon nor should they be deemed as investment advice.
IMPORTANT: The projections or other information generated by the Face Retirement tool regarding the likelihood of various future costs are hypothetical in nature and are not guarantees of future results. Assumptions concerning inflation are for illustrative purposes only. Any asset or portfolio earnings and/or returns shown or used does not reflect the cost of investing, including commissions or fees.
1 EBRI 2013 Survey: Ruth Helman, Nevin Adams, Craig Copeland, and Jack VanDerhei, "2013 Retirement Confidence Survey: Perceived Savings Needs Outpace Reality for Many," EBRI Issue Brief, no. 384, March 2013.
2 Merrill Edge Website: http://www.merrilledge.com/save-for-retirement
3 Assuming an annual return of 5.78%
4 Assuming an annual return of 5.78%. Rate of return is hypothetical and is not indicative of any particular investments, performance or yield. Return does not include reinvestment, dividends or income.
5 IRS Website: www.irs.gov
6 US Bureau of Labor Statistics
7 Social Security Administration Website: http://ssa-custhelp.ssa.gov/app/answers/detail/a_id/13/
8 Social Security Administration Website: http://www.ssa.gov/pubs/ageincrease.htm
9 US Census Bureau
10 Social Security Website: http://www.socialsecurity.gov/OACT/quickcalc/early_late.html
11 EBRI 2012 Survey: http://www.ebri.org/pdf/notespdf/EBRI_Notes_10_Oct-12.HlthSvg-only.pdf
12 Based on Social Security Life Expectancy Calculator: http://www.ssa.gov/OACT/population/longevity.html
13 Bureau of Labor Statistics & USInflationData.com http://www.usinflationcalculator.com/inflation/historical-inflation-rates/. Average rate of inflation was calculated by taking the average of the historical inflation rate data from 1914 to 2012. This rate is assumed to be increasing at an exponential growth.
We encourage you to consult with qualified professionals to discuss your situation.