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How do I calculate my target goal amounts using the goal planning feature in WebBroker?

You can choose between a Retirement Goal, a Major Purchase Goal, and a Grow My Money goal. Once you select a type of goal, you will be asked a series of questions that will help you determine how much money you'll need to pay for your goal.

Here is a list of questions you will be asked based on the type of goal that you select:

Retirement Goal

If you select the retirement goal, we will ask you the following questions:

1. Your current age

This must be a value between 0 and 99. When you have saved this information we will use this date as the starting point of your retirement savings time horizon.

2. Your earning per year before tax

This must be an amount greater than $0. We will use this amount to derive how much you'll need per year in pre-tax income once you're in retirement. This is needed to provide you with a target retirement goal amount.

3. Your retirement age

The goal planning tool requires your retirement age to be a value greater than your current age and less than your life expectancy, which is 90 years by default. You can change that default value on the Plan Summary page.

Your retirement age is used as the end point for your retirement savings investment horizon. It's also used as the starting point for determining your retirement spending investment horizon to calculate your target retirement goal amount. Your life expectancy is used as the ending point for your retirement spending investment horizon.

4. What you expect to need in retirement

You can choose:

  • Less: 60% of my current income
  • A little less: 80% of my current income
  • About the same: 100% of my current income
  • A specific amount: If you choose a specific amount, you will be asked the annual amount of pre-tax income you expect to need in retirement. This must be an amount greater than $0

Major Purchase Goal

If you select the retirement goal, we will ask you the following questions:

1. Your current age

This must be a value between 0 and 99. When you have saved this information we will use this date as the starting point of your major purchase savings investment horizon.

2. The amount you want to invest for a major purchase

This must be an amount greater than $0. This is a pre-tax, future amount that you want to have invested for your major purchase goal.

3. The age by which you expect to need the investment amount

This must be a value greater than your current age and less than 199. This is used as the ending point of your major purchase savings investment horizon.

4. The name of a purchase item

This is an optional field that can be used to give your major purchase a personalized name.

Grow my Money

1.Your current age

This must be a value between 0 and 99. When you have saved this information we will use this date as the starting point of your wealth creation savings investment horizon.

2. The age at which you expect to need the investment amount

This is an optional field for this goal. If this field is left blank, we will create a default of 20 years from your current age. This must be a value greater than your current age and less than 199. This is used as the ending point of your Grow My Money investment horizon.

3. The target investment amount

This is an optional field for this goal. This is the pre-tax, future amount that you want to have invested at the end of your goal. If this field is left blank, we will not provide you with a target investment goal amount.

2.            The age at which you expect to need the investment amount

This is an optional field for this goal. If this field is left blank, we will create a default of 20 years from your current age. This must be a value greater than your current age and less than 199. This is used as the ending point of your Grow My Money investment horizon.

3.            The target investment amount

This is an optional field for this goal. This is the pre-tax, future amount that you want to have invested at the end of your goal. If this field is left blank, we will not provide you with a target investment goal amount.

 

 

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