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Updated in January, 2012!
These easy-to-use Financial Planning Tools will help you explore various questions that you may have from time to time. Please take a few minutes to find out what each one can do to help you better understand specific questions that may occur to you. We have arranged them in general order of importance to the planning process for many clients. To use each tool, click on the highlighted title at the left of the description and begin working with it.
Additional information
Long Term Care
New!
Long term care is needed by those who can't perform the basic tasks required to take care of themselves. This can include people suffering from a debilitating illness or chronic injury. The need for long term care can arise unexpectedly, often creating a large financial burden. This calculator can help you determine if you are financially prepared for this impending expense.
Roth IRA Conversion with Distributions
New!
In 1997,
the Roth IRA was introduced. This new IRA allowed for all gains (or
growth) to be distributed completely tax-free provided certain
requirements are met. Since then, people with incomes under $100,000
have had the option to convert all or a portion of their existing
traditional IRAs to Roth IRAs. Starting in 2010, all IRA owners,
regardless of income level, will be eligible to convert their
traditional IRA to a Roth. Is this a good option for you? A conversion
has both advantages and disadvantages that should be carefully
considered before you make a decision. This calculator estimates the
change in total net-worth, at retirement, if you convert your
traditional IRA into a Roth IRA. It also allows you to compare the
impact of future Required Minimum Distributions between these accounts
for both the owner and their future beneficiaries.
Roth IRA Conversion
New!
This calculator estimates the change in total net-worth, at retirement, if you convert your Traditional IRA into a Roth IRA.
Personal Economic Recovery Calculator
New!
Recovering from a devastating investment loss takes both time and very often new contributions. Even a very large investment loss can be recouped if you are able to leave your money invested and begin adding new money. This calculator helps you determine what it might take to regroup, rebuild and re-grow after such an investment loss.
Required Minimum Distributions
The IRS requires that you withdraw at
least a minimum amount - known as a Required Minimum Distribution - from
your retirement accounts annually, starting the year you turn age
70-1/2. Determining how much you are required to withdraw is an
important issue in retirement planning. Use this calculator to determine
your Required Minimum Distributions.
Social Security
Do you wonder how much you might receive
in Social Security? Use this calculator to help you estimate your Social
Security benefits.
Home Budget
Analyze your budget, see where your money goes and find out
where you can improve!
Net Worth
This tool helps you determine
your net worth. It also estimates
how your net worth could grow (or shrink!) over the next ten years.
Life Insurance Needs
How much life insurance do you really need? Find out here!
About
JAVA tools
Information and interactive calculators are made available to you as self-help tools for your independent use. We can not and do not guarantee their accuracy or their applicability to your circumstances. We encourage you to seek personalized advice from the qualified C. E. Humphrey Associates professionals regarding all personal finance issues.