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Be sure to check out the hobbyist sections of our site. We're in the process of rolling out sections on photography and everyday gadgets. We don't focus on the cutting edge, new technologies -- we're focusing on how to use new technologies in everyday life.

Gadgets
every day uses for new and old technologies.

How Much Life Insurance do you Need?

Below is a short form to assist you in determining how much life insurance is for you. This tools should be used as a guideline to help you determine what you need. Please note, there are many different ways for you to determine how much you need, we provide you with information for you to come up with alternatives to what the saleman is going to be telling you.

Your Name
Enter the following 4 items as a whole number (no decimals)
Current Age
Expected retirement age
Expected annual inflation rate (%)
Expected annual earnings rate (%)

A Your Pre Tax Current Annual Gross Income ($)
B Your estimate of your family's needs in annual pretax dollars (some use 75% of A)
C Less: Income derived from other sources by your family (includes spouse's income, social security, interest, dividends, rents - for an estimate of social security benefits, contact Social Security and ask for SSA 7004).
D Equals: Replacement Income Needed

E Capital Needs for Annuity for Replacement Income.
F Estimate your funeral and last medical costs ($10,000-$100,000)
G Your debts to pay off (mortgage, bank loans, auto loans)
H College cost for 1 child (public 4 years = $40,000, private = $80,000-132,000)
H2 Number of children
H3 Number of years until college begins

I Capital cost for college
J Total of E, F, G & I

Less:
K Saving and Investment
L Retirement account balances
M Current amount of life insurance
N Total of K, L, M

O Life Insurance Needed




























If you're looking for information on the the FinPlan Divorce Planner (from the other FinPlan company), please continue on to http://www.divorceplanner.com.
Note - FinPlan.com does not offer any information regarding this program nor does it have any relationship with the company offering the software. This link is provided as a service only.
FinPlan.com offers several online tools and calculators as well as some software programs from FinPlan, Inc. FinPlan started developing software in the 1980s developing 10 programs covering several personal finance topics.

Family Retirement Planner
The FinPlan Family Retirement Planner provides an excellent high-level retirement planning model to help you determine your retirement planning needs which will allow you to develop a strategy to get there.

Financial Toolkit
The FinPlan Financial Toolkit provides a variety of financial tools designed to help you answer many questions on personal finance.
Link Section
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New on the Site:
Outdoor Photography Blog
Outdoor Photography Gallery
Beginning Photography
Intermediate Photography
Advanced Photography
Photo Section Index

Friends of FinPlan:

Financial Calculators
Online Photo Album
Learn Digital Photography
My Photo Gallery

New
Economic Indicators. A primer on several key economic indicators and what they can tell you about money and investing.

Important Facts
Effective January 1, 2002 there have been a few changes to the Traditional IRA. These changes are outlined here.

About Us
HighPeak Software, FinPlan.com, HighPeak Media.


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