Income Growth Calculator
The Income Growth calculator demonstrates how your income and total earnings might grow from today until the time you plan to retire. Income growth is compounded annually in this calculator.*
- Enter ballpark values by dragging the sliders left or right.
- Enter exact numbers by clicking in the box and type your number (no commas). The results of your calculations show in the box near the middle of the calculator.
- Current Age
- Enter your current age.
- Retirement Age
- Enter the age at which you expect to retire. The difference between the retirement age and your current age is the number of years over which your income growth will be compounded.
- Current Income
- Enter your current gross annual income, which is your anticipated total income from all sources and before taxes or withholding.
- Expected Raises
- Enter the average percentage you expect your income to grow every year.
- Based on the information you’ve provided, this summarizes what your gross annual income will be at retirement and the total income you would have earned between your current age and retirement age.
- This graph shows how your annual income grows for every year between your current age and your retirement age. Move your cursor over any of the bars in the graph to see what your annual income is estimated to be in that year.
*Calculators provided are estimation tools and do not necessarily reflect products, terms or rates that Home Federal Bank may offer. Please contact your Home Federal banker to verify results.