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| | | | | Retirement and College Savings Tools | | Morningstar® Integrated Web Tools offers retirement and college planning calculators that firms can showcase on their websites. Built on solid methodologies, these calculators deliver real numbers to advisors so they can help investors plan for the future. The calculators give users the flexibility to test different scenarios and present possible outcomes to their clients. | |
| Standard capabilities include: | | | | | Retirement and College Cost Calculators | | | | | |
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| | | These simple calculators help advisors evaluate their clients’ progress in saving for retirement or college. Each calculates the current savings, annual savings, and annual return needed for investors to meet their goals. They also indicate the percentage of retirement or college costs covered if investors follow a particular savings plan. | | | | | | Retirement Analysis allows advisors or individuals to easily assess the future implications of their investment decisions and strategies. This tool uses Monte Carlo simulations, powered by the Ibbotson Wealth Forecasting Engine, to calculate thousands of future wealth scenarios. It considers current investment balance, savings rate, and desired retirement income to determine the probability of achieving retirement income goals. | | | | | | These tools help advisors determine their clients’ Roth IRA eligibility and compare traditional IRA and Roth IRA benefits. The calculators analyze the cost and tax implications of converting between IRA accounts. Each generates a PDF report that documents current IRA balance, expected rate of return, and conversion outcome. | | | | | Retirement Concept Illustrator | | | | | |
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| | | The Retirement Concept Illustrator evaluates different retirement scenarios, visually demonstrating the concepts of longevity, withdrawal rates, annuitization, and asset allocation. It tests portfolio allocations and withdrawal rates to simulate income payout in retirement. Withdrawals are applied as a percentage of the initial portfolio value and are adjusted for inflation each following year. | | | | |
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