Union Bank & Trust Company will close at 2:00pm on Friday, December 23, 2022. All wire requests must be received by 1:30PM. Have a wonderful holiday season.

RESOURCES

CALCULATORS

All calculators are made available as self-help tools for your independent use with results based on information provided by the user.All examples are hypothetical and are for illustrative purposes only. Calculated results are believed to be accurate but results are not guaranteed. Loan calculators are not intended to provide financial advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. Users are advised to seek personalized advice from qualified professionals regarding all personal finance issues.

Loan Amount
Interest Rate %
Length of Loan
Additional Principal Each Month

Monthly Payment $423.96
Total Interest $5,437.43
Total Paid $25,437.43
Payoff Time 5 Yrs

Number of Payments 60
Annual Cost $5,087.52


All calculators are made available as self-help tools for your independent use with results based on information provided by the user. All examples are hypothetical and are for illustrative purposes only. Calculated results are believed to be accurate but results are not guaranteed. Loan calculators are not intended to provide financial advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. Users are advised to seek personalized advice from qualified professionals regarding all personal finance issues.


Loan Balance
Monthly Payment
Interest Rate %
Desired Payoff Time
Years Months

Additional Each Month $65.45
Total Monthly Payment $489.41
Total Interest $3,242.77
Total Paid $20,554.89
Actual Payoff Time 3 Yrs 6 Mths

Number of Payments 42
Annual Cost $5,872.92


All calculators are made available as self-help tools for your independent use with results based on information provided by the user. All examples are hypothetical and are for illustrative purposes only. Calculated results are believed to be accurate but results are not guaranteed. Loan calculators are not intended to provide financial advice. We can not and do not guarantee their applicability or accuracy in regards to your individual circumstances. Users are advised to seek personalized advice from qualified professionals regarding all personal finance issues.

Loan amount
Loan term
Interest rate %
Loan start date
Additional principal each month
Additional principal each
Additional principal in
Monthly Payments
Payoff time
Payoff date

Month and Year Payment Principal Paid Interest Paid Total Interest Balance
Monthly Expenses $0.00
Monthly house expenses
House payment Home maintenance
Monthly loan payments
Auto payment Auto payment 2
Credit card payments Bank service charge
Monthly insurance expenses
Auto Life
Health Home
Monthly utilities
Electric Gas
Sewer and water Cable
Telephone Internet
Other monthly expenses
Food Auto gas and maintenance
General merchandise Donations
Travel and entertainment Gifts
Child care Medical
Other
Net monthly income $2,000.00
You Your Spouse
I am paid
Gross income
Federal tax withholding
State tax withholding
Local tax withholding
Other taxes and withholding
FICA
Medicare
Insurance and benefits
Company retirement savings plan
Misc. income

Monthly expenses of

$0.00

leaves you with

$2,000.00

available for savings.

Monthly net income is

$2,000.00

after taking

$0.00

in deductions.


Current age Years
Household income
Rate of return before retirement %
Percent of income to contribute %
Years of retirement income Years
Expected rate of inflation %
Age of retirement Years
Current retirement savings
Rate of return during retirement %
Expected salary increase %
Percent of income at retirement %
 

You may need to save more.

Your plan provides you with $652,455 when you retire.
This retirement savings may run out at age 73.

This assumes annual retirement expenses of $94,808 which is 90% of your last year’s income of $105,342.

Current age

Your current age.

Age of retirement

Age you wish to retire. This calculator assumes that the year you retire, you do not make any contributions to your retirement savings. So if you retire at age 65, your last contribution happened when you were actually age 64. This calculator also assumes that you make your entire contribution at the end of each year.

Household income

Your total household income. If you are married, this should include your spouse’s income.

Current retirement savings

Total amount that you currently have saved toward your retirement. Include all sources of retirement savings such as 401(k)s, IRAs and Annuities.

Rate of return before retirement

This is the annual rate of return you expect from your investments after taxes. The actual rate of return is largely dependent on the type of investments you select. For example, from December 1999 to December 2009, the average annual compounded rate of return for the S&P 500 was -0.6%, including reinvestment of dividends. From January 1970 to December 2009, the average annual compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 10.1% (source: www.standardandpoors.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a bank may pay as little as 1% or less but carry significantly lower risk of loss of principal balances.

It is important to remember that these scenarios are hypothetical and that future rates of return can’t be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that funds and/or investment companies may charge.

Rate of return during retirement

This is the annual rate of return you expect from your investments during retirement, after taxes. It is often lower than the return earned before retirement due to more conservative investment choices to help insure a steady flow of income. The actual rate of return is largely dependent on the type of investments you select. For example, from December 1999 to December 2009, the average annual compounded rate of return for the S&P 500 was -0.6%, including reinvestment of dividends. From January 1970 to December 2009, the average annual compounded rate of return for the S&P 500, including reinvestment of dividends, was approximately 10.1% (source: www.standardandpoors.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a bank may pay as little as 1% or less but carry significantly lower risk of loss of principal balances.

It is important to remember that these scenarios are hypothetical and that future rates of return can’t be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that funds and/or investment companies may charge.

Percent of income to contribute

The percentage of your annual income you will save for your retirement goals. This should reflect the total you save toward your retirement. This should include any 403(b), 401(k), or 457(b) plans and your employer contributions to these plans. It should also include any other retirement accounts such as an IRA or a Roth IRA and any retirement savings in non-retirement accounts. This calculator assumes that you make one annual contributions at the end of each year, and any withdrawals happen once per year at the end of the year.

Expected salary increase

Annual percent increase you expect in your household income.

Years of retirement income

Total number of years you expect to use your retirement income.

Percent of income at retirement

The percent of your working year’s household income you think you will need to have in retirement. This amount is based on your income earned during the last year you will work. You can change this amount to be as low as 50% and as high as 150%.

Expected rate of inflation

What you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI), which has a long-term average of 3.1% annually, from 1925 through 2009. The CPI for 2009 was -1.0%, as reported by the Minneapolis Federal Reserve.

Married checkbox

Check this box if you are married. Married couples have a higher maximum social security benefit than single wage earners.

Include Social Security checkbox

Check this box if you wish to include social security benefits in your retirement planning. Social Security is based on a sliding scale depending on your income, how long you work and at what age you retire. Social Security benefits automatically increases each year based on increases in the Consumer Price Index. Including a spouse increases your Social Security benefits by 1.5 times your individual estimated benefit. Please note that this calculator assumes that you have only one working spouse. Benefits could be different if your spouse worked and earned a benefit higher than one half of your benefit. If you are a married couple, and both spouses work, you may need to run the calculation twice – once for each spouse and their respective income. This calculator provides only an estimate of your benefits.

The calculations use the 2010 FICA income limit of $106,800 with an annual maximum Social Security benefit of $27,876 per year for a single person and 1.5 times this amount for a married couple. To receive the maximum benefit would require earning the maximum FICA salary for nearly your entire career. You would also need to begin receiving benefits at your full retirement age of 66 or 67 (depending on your birthdate). Your actual benefit may be lower or higher depending on your work history and the complete compensation rules used by Social Security.

You Are Now Leaving Union Bank & Trust's Website
Clicking Will Result In You Leaving The Site

You are about to access a third-party website. Union Bank & Trust does not manage or maintain the third-party website, nor are we responsible for its content. The link to the third-party website is for your convenience only and is accessed at your own risk. The linked site may provide less security than Union Bank & Trust’s and may have a different privacy policy. Our linking to a website does not constitute an endorsement of that site, of the organization it represents, or of the content or products it offers, and none should be inferred.

Thank you for visiting Union Bank & Trust.

You Are Now Leaving Union Bank & Trust's Website
Clicking Will Result In You Leaving The Site

You are about to access a third-party website. Union Bank & Trust does not manage or maintain the third-party website, nor are we responsible for its content. The link to the third-party website is for your convenience only and is accessed at your own risk. The linked site may provide less security than Union Bank & Trust’s and may have a different privacy policy. Our linking to a website does not constitute an endorsement of that site, of the organization it represents, or of the content or products it offers, and none should be inferred.

Thank you for visiting Union Bank & Trust.

Click Here To Continue To Facebook

No, thank you. I do not want.
100% secure your website.
Powered by
You Are Now Leaving Union Bank & Trust's Website
Clicking Will Result In You Leaving The Site

You are about to access a third-party website. Union Bank & Trust does not manage or maintain the third-party website, nor are we responsible for its content. The link to the third-party website is for your convenience only and is accessed at your own risk. The linked site may provide less security than Union Bank & Trust’s and may have a different privacy policy. Our linking to a website does not constitute an endorsement of that site, of the organization it represents, or of the content or products it offers, and none should be inferred.

Thank you for visiting Union Bank & Trust.

Click Here to Continue To LinkedIn

No, thank you. I do not want.
100% secure your website.
Powered by