IMPORTANT: The projections or other information generated by the Planning & Guidance Center's Retirement Analysis regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results. Your results may vary with each use and over time. For hypothetical illustration only. Retirement income is based on estimated Social Security and estimated withdrawal amount from retirement savings after age 67.

The Social Security estimate assumes the hypothetical person's age is 48 and he earns $70,000 in annual income and that he will be claiming Social Security at his full retirement age of 67. Further assumptions are 4% income growth and 30% income reduction during semi-retirement at age 55 or 58.

Estimated withdrawal amounts are Monte Carlo simulations based on historical asset class returns and are not recommendations. It assumes the $300,000 balance is invested in a target date fund, and a 15% saving rate until semi-retirement, and then 0% saving rate during semi-retirement. Withdrawals begin at age 67 with a 10% effective tax rate in retirement and a plan to age of 93. See the methodology footnote* below for more.

All numbers are in today's dollar and rounded down to the nearest $1,000.

Source: Fidelity Investments.

Fidelity does not provide legal or tax advice. The information herein is general and educational in nature and should not be considered legal or tax advice. Tax laws and regulations are complex and subject to change, which can materially impact investment results. Fidelity cannot guarantee that the information herein is accurate, complete, or timely. Fidelity makes no warranties with regard to such information or results obtained by its use, and disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Consult an attorney or tax professional regarding your specific situation.

Keep in mind that investing involves risk. The value of your investment will fluctuate over time, and you may gain or lose money.

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