- If you choose to omit housing information, the calculation will show the effects of income taxes and sales taxes. If you include housing information, the calculation will reflect expenses on your new home as well, including property taxes, interest payments, and mortgage payments.
- Households manage their finances so as to smooth out their discretionary spending over their lifetime.
- Wage/business income is the same in both states.
- Earnings during your working years will increase each year at the assumed rate of inflation of 3 percent.
- Any money invested in retirement accounts or regular savings accounts will grow at 4 percent per year.
- This calculator is for educational purposes only. It should not be construed as financial or investment advice.
- This program will not provide an accurate comparison if you have reached your full retirement age.
- Personal data is not stored or shared through this website.