In order to simplify this Estimator, we have made additional assumptions on your behalf that, when combined with the inputs you have given us, result in the numbers presented here. Modifying the assumptions can result in a different income amount.
The assumptions that we made on your behalf are:
- The owner(s) is/are also the annuitant(s) or the person(s) upon whose life the payout of an annuity is based and who will receive annuity payouts
- Payments will be made monthly
- The annuity purchase date is today
- For single premium immediate annuities and deferred income annuities, you receive your first income payment on the date you select.
- Funds used to purchase this annuity are from non-qualified dollars
Other important factors:
- Rates are subject to change
- Life only payout contracts may not be available to owners at advanced ages.
- The estimates displayed here are rounded to the nearest whole dollar
- To replicate the income payment, the same investment amount used to get an estimate must be used to fund the annuity
- The estimates do not reflect the impact of taxes
- Guarantees are subject to the claims-paying ability of the issuing insurance company (not Schwab)
By working with a Schwab representative, you will be able to customize your income annuity payments specific to your needs, by:
- Setting a different payment frequency (for example annually or quarterly)
- Choosing a different income start date
- Calculating payments that include a cost of living adjustment
- Selecting an annuity carrier