An annuity is a financial product that offers regular payments in exchange for an initial investment or continuous contributions made over a specified period.
An annuity calculator is a tool designed to help individuals estimate the future value of an annuity or determine the necessary contributions to achieve a desired future income stream.
Investment Amount: The lump sum amount you plan to invest in the annuity at the outset.
Annual Interest Rate: The expected annual rate of return on the annuity investment.
Annuity Duration: How long do you wish your Annuity to last - 5,10,15 or 20 years or for your lifetime and/or your Spouse's lifetime.
Annuity Payout Start Age: The age at which you plan to begin withdrawing funds from the annuity.
Monthly Income Required from the Annuity: The number of years over which you plan to withdraw funds from the annuity.
Inflation Rate: We assume an inflation rate of 3%.
We don't assume taxes for your annuity. If taxes are applicable the monthly amount received should be adjusted based on the applicable tax rate.