Retiring in 5, 7, or 10 Years? Discover How to Create Income for Life.
You've worked hard to build your retirement savings. Explore how part of your savings could help create predictable lifetime income while another portion remains positioned for potential growth.
- Are approaching retirement or need income next year.
- Have savings in a 401(k), 403(b), TSP, IRA, CD, brokerage, or savings account.
- Want to explore lifetime income and protection from direct market losses.
- Want to see how your retirement paycheck could look at different ages.
Your Savings Have Grown. Now What Will They Pay You?
For years, your focus may have been saving, contributing to retirement accounts, and growing investments.
As retirement approaches, the question changes. It's not just how much you've saved. It's how much income your money could provide, and how long that income could last.
A Paycheck for Life
Explore contractual lifetime income options designed to continue throughout retirement, subject to the issuing insurer's guarantees.
Market-Loss Protection
Certain fixed indexed insurance strategies avoid direct negative index credits, although charges and withdrawals can reduce contract values.
Potential Continued Growth
Allocate another portion of savings toward potential index-linked interest credits, subject to contract limitations.
See Your Retirement Income by Age
Choose your age, retirement date, and savings allocation. See how your illustrative retirement paycheck and separate growth account could develop over time.
Step 1 — Your Age and Retirement Date
Step 2 — Your Retirement Savings
Step 3 — Income and Growth Allocation
Choose how much of your savings goes toward the lifetime income strategy and how much remains in the separate growth strategy.
Step 4 — Adjust Income and Growth Assumptions
Income timing: Your selected income factor is applied to today's income allocation for illustration. This simplified model does not assume additional growth in the income allocation before payments begin. Actual payout factors and guaranteed income amounts depend on age, deferral period, and contract terms.
Your Illustrative Retirement Paycheck
Starting at age 61, your illustrative annual income would be $37,500.
Step 5 — Estimate Your Retirement Income Taxes
Explore the potential difference between gross income and estimated income after taxes.
| Gross Annual Income | $37,500 |
| Illustrative Taxable Income | $37,500 |
| Estimated Annual Taxes | $8,250 |
| Estimated Net Annual Income | $29,250 |
| Estimated Net Monthly Income | $2,438 |
This is a simplified tax illustration, not an actual federal or state tax calculation. Tax brackets, deductions, other income, Social Security, and individual circumstances are not modeled.
Step 6 — Your Retirement Income Journey by Age
Explore illustrative income payments and potential growth from your current age through age 100.
The chart shows the separate growth allocation, not the value of the lifetime income contract. Historical price returns are repeated for illustration only. Actual performance may differ.
Age-by-Age Retirement Projection
| Age | Year | Annual Income | Cumulative Income | Growth Account |
|---|
How to read the table: Income begins at the selected age. Cumulative income reflects completed annual payments through each age milestone. It is money paid out, not a remaining account balance. The income contract's surrender value and death benefit are not modeled.
Where Can Your Retirement Income Money Come From?
You may already have eligible savings that could be considered for a retirement income strategy. Account rules and taxes vary.
401(k) Plans
Explore eligible rollover options from previous employers or qualifying distributions.
403(b) Plans
Learn about income options for eligible education and nonprofit retirement balances.
Thrift Savings Plan
Explore options for eligible TSP transfers and distributions.
Traditional and Roth IRAs
Review possible transfers while preserving applicable tax treatment.
Certificates of Deposit
Explore whether part of your maturing CD savings fits a longer-term strategy.
Brokerage and Savings Accounts
Review eligible nonretirement funds, liquidity needs, and potential tax consequences.
Not all accounts can be transferred directly into annuities. Some transactions require liquidation or distributions and may trigger taxes or other consequences.
Retiring in 5, 7, or 10 Years?
Retiring in 5 Years
Review your income needs, liquidity, and how lifetime income options could fit your plan.
Retiring in 7 Years
Explore future income dates and potential accumulation opportunities.
Retiring in 10 Years
Prepare for the transition from accumulating savings to receiving retirement income.
What If the Market Drops Right Before You Retire?
Market declines near retirement can be challenging when you're withdrawing money to cover living expenses.
Certain insurance-based strategies offer contractual lifetime income options that do not depend directly on market performance. They may complement, rather than replace, your existing investments.
Potential Benefits
- Lifetime income options
- Protection from direct negative index credits in certain contracts
- Potential index-linked interest credits
- Joint-income options
- Possible enhanced-income features for qualifying events
Important Considerations
- Surrender periods and limited liquidity
- Possible rider charges
- Caps, participation rates, and spreads
- Inflation risk
- Tax consequences
- Insurer claims-paying ability
How Your Retirement Income Review Works
1. Request a Consultation
Share your retirement timeline and types of savings accounts.
2. Explore Your Options
Review potential income strategies, liquidity, eligibility, and taxes with a licensed professional.
3. Make an Informed Decision
Compare contract illustrations, guarantees, charges, and alternatives before moving any funds.
Frequently Asked Retirement Income Questions
Can I turn my 401(k) into lifetime income?
Eligible retirement funds may be rolled into an appropriate IRA annuity, subject to plan and tax rules.
Does my age affect lifetime income?
Yes. Actual contract payout factors may depend on age, income start date, joint-life elections, and contract provisions. This educational calculator keeps the income factor editable rather than automatically assuming age-based rates.
What does a 7.5% income factor mean?
It is an illustrative annual payout factor applied to the income allocation. It is not a 7.5% investment return or an actual carrier quote.
Can I receive income while keeping money growing?
Potentially. Savings can be allocated among different accounts and products for different retirement objectives.
Are retirement income payments taxable?
Pretax retirement funds generally produce taxable distributions. Nonqualified annuity payments and qualifying Roth distributions may have different tax treatment.
Can my spouse receive income after I die?
Certain contracts offer joint lifetime income options. Benefits depend on the contract and income election.
Are annuities FDIC-insured?
No. Annuities are insurance contracts. Guarantees depend on the issuing insurer's claims-paying ability.
Can I access my money?
Access depends on the contract. Withdrawals may be limited or subject to surrender charges and could reduce future income benefits.
You Saved for Retirement. Now Explore How Your Savings Could Pay You for Life.
Whether retirement is next year or 5–10 years away, discover how lifetime income and potential growth strategies could work together.
Request Your Free Retirement Income ConsultationNo obligation. Education first. Solutions second.
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Important Information and Disclosures
This page is educational and does not provide individualized financial, investment, legal, or tax advice.
Lifetime income and index-linked interest strategies described here may involve fixed indexed annuities and optional income riders issued by insurance companies.
Annuities are not FDIC-insured. Guarantees depend on the issuing insurer's financial strength and claims-paying ability.
Index-linked interest is not a direct investment in the S&P 500. Crediting terms may include caps, spreads, participation rates, and other limitations that may change.
The calculator uses hypothetical income factors and tax assumptions. It does not model the income contract's remaining value, death benefit, rider charges, or product-specific income calculations.
Growth projections use a repeated historical price-return sequence and assume an illustrative 0% annual index-crediting floor, no charges, no withdrawals, and unchanged crediting terms. Past performance does not predict future results.
Consult licensed insurance professionals and qualified tax advisors before making rollover, distribution, or annuity decisions.