I would assume it doesn't take inflation into consideration, meaning you'll get $17,000, regardless of what that's worth in 25 years. TIAA has various non-guaranteed components in the return that might improve that, assuming they show up.I was stating I hope the $17,000 estimate is not taking inflation into consideration because $17,000 in 25 years will be much less than it is today, especially after contributing $400 monthly to the annuity.
I don't understand the "doesn't account for inflation" comment.
My experience with the online retirement income estimator is that it can be wildly inaccurate; I asked I was told that sometimes when you change values (which I often do) without completely starting over the results are erratic. That's surprising to me but based just on how it handles inputs it seems like it's not well-designed. If I get to the point of seriously wanting to annuitize I'd definitely investigate more.
Statistics: Posted by tibbitts — Mon Jan 20, 2025 5:43 pm