Retirement Income Estimator
SESLOC Financial Calculators
Our retirement calculators can help you plan for your financial goals.*
Use of these calculators is not to be construed as guarantees of credit, of deposit account earnings or of tax savings. See full disclosure below.
* Interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment or borrowing advice. Calculators provide hypothetical illustrations of historical, current or future performance estimates. Actual rates, terms and payments may vary. Calculators are for educational and illustrative purposes only. These calculators provide data that may help you analyze your financial situation based on assumptions and information you provide. A calculator should not be relied on as your only source of data. Calculators are provided from sources we believe to be reliable; however, there is no accuracy guarantee. Use of this calculator is provided to you without warranty of any kind, express or implied or statutory, including "fitness for a particular purpose." We encourage you to seek personalized advice from qualified financial professionals regarding your personal finance situation. User agrees to hold SESLOC Federal Credit Union harmless from any and all costs and liabilities for any improper use or violation of these terms. These terms and agreement are governed by California law.
Financial Planning Tips
From the News+ Blog
A big reason many Americans are foregoing college is the cost. For the 2022-2023 year (most recent data available), the average one-year cost for tuition, fees, room, and board was $23,250 for in-state students at a four-year public college, $40,550 for out-of-state students, and $53,430 at a four-year private college. But many schools, especially “elite” private colleges, cost substantially more, with some over the $80,000 mark.
In early 2022, the IRS issued proposed regulations regarding required minimum distributions (RMDs) to reflect changes made by the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019. The IRS has held off on releasing final regulations so that it can address additional changes to RMDs made by the SECURE 2.0 Act of 2022, which was passed in late 2022. In the meantime, the IRS has issued interim RMD relief and guidance for 2023. Final RMD regulations, when issued, will not apply before 2024.
The Fiscal Responsibility Act of 2023, signed into law on June 3, 2023, suspends the federal debt ceiling until January 2025. The legislation also includes a number of spending cuts. It is estimated to reduce federal budget deficits by about $1.5 trillion over the 2023-2033 period relative to the May 2023 baseline projections, according to the Congressional Budget Office.