DERRICK FINANCIAL GROUP - Insurance, Investments, Financial Services - IRA Eligibility : Calculator: IRA Eligibility

Saving for a comfortable retirement is one of the most common financial goals among working people. One popular retirement savings vehicle is the IRA. Even if you have access to an employer-sponsored retirement plan, you may still be eligible to supplement your employer’s plan by contributing to a tax-deductible IRA or a Roth IRA. This calculator is designed to help you determine whether you qualify for the different types of IRAs and to estimate the potential future value of each type of IRA for which you are eligible.

1. What will your age be as of December 31 this year?
2. Are you covered by an employer-sponsored retirement plan?	YesNo
3. Do you have a spouse who is covered by an employer-sponsored retirement plan?	YesNo
4. What do you (and your spouse, if applicable) expect your adjusted gross income to be this year?	$
5. What will your filing status be for this year? (Choose "Married Filing Separately" if you lived with your spouse at any time during the year. Choose "Single" if you did not live with your spouse at any time during the year.)
6. What pre-tax return do you expect on your investments between now and when withdrawals begin (0 to 10 percent)?	%
7. What marginal tax bracket do you expect to be in during your working years?
8. At what age do you expect to begin withdrawing funds from your IRA? (Note that mandatory withdrawals (distributions) from traditional IRAs must begin by April 1 of the year following the year in which you turn age 70-1/2. There are no mandatory withdrawal requirements for Roth IRA owners. Beneficiaries of either type of IRA are required to take mandatory distributions (based on their own life expectancies).)
9. What pre-tax return do you expect on your investments once withdrawals begin (0 to 10 percent)?	%
10. What marginal tax bracket do you expect to be in at retirement?
11. For how many years do you intend to withdraw funds from your IRA?

Charles Richard Derrick, Registered Representatives of Park Avenue Securities, LLC (PAS). Securities products and services are offered through PAS, 954 Ridgebrook Road, Suite 300, Sparks, Md. 21152, 410-828-5400. Field Representatives, The Guardian Life Insurance Company of America, New York, New York. PAS is an indirect, wholly-owned subsidiary of Guardian. Derrick Financial Group is not an affiliate or subsidiary of PAS or Guardian.

Stephen Lee Derrick and Charles Lee Derrick, Registered Representatives and Financial Advisors of Park Avenue Securities, LLC (PAS). Securities products/services and advisory services are offered through PAS, a registered broker-dealer and investment advisor, 954 Ridgebrook Road, Suite 300, Sparks, Md. 21152, 410-828-5400. Field Representatives, The Guardian Life Insurance Company of America, New York, New York. PAS is an indirect, wholly-owned subsidiary of Guardian. Derrick Financial Group is not an affiliate or subsidiary of PAS or Guardian.

The information on this site is intended for the residents of DC, KY, MA, MD, ME, NC, PA, and VA. The financial representatives of Derrick Financial Group are not licensed to sell insurance in all 50 states. To find out if an agent is licensed in your state, please contact Lee Derrick at 410-263-9708.

Registered Representatives securities licensed in DC, KY, MA, MD, ME, NC, PA, and VA. This website is strictly intended for individuals residing in those states. No offers may be made or accepted from any resident outside these specified states.

Neither Guardian, nor its subsidiaries, agents or employees provide tax or legal advice. You should consult your tax or legal advisor regarding your individual situation.

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The information or opinions contained in this Internet site should not be construed by any consumer and/or prospective client as an offer to sell or the solicitation of an offer to buy any particular investment product. The information contained herein is directed solely to those individuals who reside in jurisdictions in which the representative is registered in the state where the consumer and/or prospective client reside. Any subsequent direct communication with a consumer and/or prospective client shall only be conducted by a representative that is registered in the state where the consumer and/or prospective client reside.