When considering a withdrawal from your retirement savings, it is important to understand the potential impact of such a decision.
The tools and information on this webpage permit you to estimate the impact of taking an early withdrawal from your retirement account, including potential lost asset growth, tax consequences and penalties based on information you specify. This calculator does not take into account any impacts resulting from the possibility of your plan provider suspending contributions for a period of time after a withdrawal is taken; nor does it consider whether you might have alternative sources of money available other than withdrawing money from your retirement plan. You should consult with your employer to determine if contributions could be suspended as a result of taking an early withdrawal.
The Early Withdrawal Calculator results represent analysis and estimates based on the information you have provided, but they do not reflect all relevant elements of your personal situation. These estimates should not be regarded as predictions, advice, or recommendations. The actual impact of your financial decisions may vary significantly from these estimates. This information does not constitute an application, offer or commitment by TIAA, or a representation of interest rates, investment performance or any other future performance. The accuracy of this calculator and its applicability to your circumstances is not guaranteed. You should obtain personal advice from qualified professionals. This information is provided for educational and illustrative purposes only and is not intended to constitute legal, financial, tax, or other advice. TIAA does not provide legal, accounting, or tax advice. Please consult your tax or legal advisors before taking any action that may have tax or legal consequences.
You should not view or construe the tools and information as a suggestion that you take or refrain from taking a particular course of action, as the advice of an impartial fiduciary, or as an offer to sell or a solicitation to buy any securities. Need Help? Let our TIAA financial consultants help you understand how an early withdrawal may impact your retirement goals by contacting us at 800-842-2252.
You may also contact TIAA for more information at 800 842-2252.
The information derived from this tool is for educational and illustrative purposes only and is not intended to constitute legal, financial, tax, or other advice. Any assessment, projection or estimate is purely hypothetical in nature, and does not in any way reflect actual investment results or guarantees of future results. Results are based on your inputs. You should not view or construe the tools and information as a suggestion that you take or refrain from taking a particular course of action, as the advice of an impartial fiduciary, or as an offer to sell or a solicitation to buy any securities. In making the tools and information available to you, we assume that you are capable of evaluating the information and exercising independent judgment. You should not buy or sell any security or take any action with respect to your retirement assets without first considering whether it is appropriate for you based on your own particular situation. TIAA-CREF Individual & Institutional Services, LLC will not perform any suitability or other analysis to check, for example, whether an action you take with respect to your retirement assets is consistent with your investment objectives. The use of this tool and these estimates does not in any way constitute tax advice. Contact your tax advisor regarding the tax impact of any decision.
The Early Withdrawal Calculator facts and assumptions (e.g., retirement ages, life expectancies, income levels, financial resources, rates of return and other features), and rates specific to the calculation of impact of early withdrawal and value of lost retirement funds that may affect a plan participant’s, beneficiary’s, or IRA owner’s assessment of the different income streams are explained in the calculator or are specified by the plan participant, beneficiary, or IRA owner. The Early Withdrawal Calculator does not include or identify any specific investment alternative or distribution option available under the plan or IRA, unless such alternative or option is specified by the plan participant, beneficiary, or IRA owner.