Should My Spouse Work? (Retirement Impact)

Evaluate the retirement consequences of single vs. dual income households.

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Work & Costs Details

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Spouse Work Analysis

Net Spouse Income (After Costs & Tax)$21,000
Total Work-Related Costs$17,000
Additional Retirement Savings$392,680
Total Retirement Impact$584,680
Effective Hourly Rate$10

Working adds $21,000 annually after costs.

How it works›

Model and assumptions. Combines the entered additional earnings, work costs, contributions and retirement benefits to estimate the household effect. Future wages and benefit assumptions are held as entered; a full household tax or benefit eligibility determination is outside this model.OpenStax: annuity formulas