Obviously, you should know the interest rate of your annuity—or the interest rate range for a variable rate annuity. You should know the difference between the various kinds of annuities and how to earn from them.
It’s unlikely though that you’ll have to crunch the figures yourself. The Internet has no shortage of annuity calculators that you can use easily.
The American Association of Retired People, for example, has an annuity calculator that lets you plug in all sorts of data to determine how much you’ll need to save and what you can expect to receive from an annuity.
Those calculators make your predictions and your calculations much easier. They do the hard math for you. They’ll help you understand what you can afford to put aside and predict how comfortable your retirement will be. You’ll just need to know the interest rates, the number of years you’ll be saving, and the amount you can afford or want to receive.
But while those annuity calculators will answer the two most important questions you’re likely to have about annuities—how much your annuity will cost you; and how much it will give you—an annuity calculator can’t provide all the information you’ll need.
There a variety of annuity calculators available online that can be used as a reference point. Most of these calculators are free to use. And, their main purpose is to provide you with personalized quotes for your specific annuity.
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Annuity Calculators
To make sure that you’re using the right calculator for your specific situation, here are 15 annuity calculators worth using.
Fixed Annuity Calculator
A fixed annuity is a simple and straightforward option that’s reminiscent of a CD. You’re guaranteed a fixed interest rate on your investment. This can last anywhere from a year to the full length of your guarantee period. There are two types of fixed annuities, traditional fixed and MultiYear Guarantee Annuity (MYGA).
Since a fixed annuity isn’t as complicated as other types, neither is a fixed annuity calculator. For example, there’s the Due Annuity Calculator. Because you get a 3% guaranteed interest rate, you just need to plug in the following information;
 Monthly or One Time Contribution
 Yearly Contribution Percentage Increase (15, 10, 5, or Custom)
 Current Age
 Retirement Age
The calculator will then let you know how much you’ll receive each month.
Here is Due’s easy annuity calculator to help you.
Fixed Index Annuity Calculator
With a fixed index annuity, you’re able to earn interest from market exposure. But, if the market tanks, the interest rate is guaranteed to never be less than zero. As such, this type of annuity might be considered a winwin.
You will need much more data, however, when using a fixed index calculator. This includes;
 Starting balance
 Annual contribution
 Current age
 Withdrawl age
 Current tax rate
 Retirement tax rate
 Taxable account’s return
 Initial interest rate
 Years initial interest is guaranteed
 Expected average interest rate
 Minimum guaranteed rate
If you have this info on hand, the Annuity Guys have a handy fixed index annuity calculator you can use to see how it will fit into your retirement plan.
Immediate Annuity Calculator
With this type, which is also referred to as a Single Premium Immediate Annuity (SPIA) or an Income Annuity, you exchange a lump sum payment into a series of payments. These payments will be guaranteed for the specified period of the contract. What’s more, income checks start right away, hence the name of the annuity.
Due also has an Immediate Annuity Calculator, as does AIG. You’ll need data like investment amount, life expectancy, the annual rate of return, and frequency of payments.
DIA Calculator
A Deferred Income Annuity (DIA) has the same structure as an SPIA. The difference, however, is when you start receiving payments. Unlike an immediate annuity, you receive annuity payments at a later date.
When using a DIA calculator, you’ll to provide the following to secure a quote;
 State of residence
 Birthdate
 Gender
 Source of fund (IRA or nonIRA)
 Deposit amount
 When you want the income to start
Qualified Longevity Annuity Contract (QLAC) Calculator
A Qualified Longevity Annuity Contract, or QLAC for short, is a special type of annuity known as a longevity annuity. With a QLAC contract, you use your qualified retirement savings, like those from an IRA or 401(k), to fund the annuity. But, this will delay the start of that income till after age 70½. As a result, this overrides the IRSrequired minimum distribution (RMD) rules.
Income Rider Calculator
If you recall, an income rider is an addon that you can attach to your annuity. It’s usually associated with a variable or indexed annuity to guarantee a lifetime income stream. Remember, that this is an optional product that you tack onto your annuity. As such, you may be charged an additional fee.
Lifetime Annuity Calculator
Generally, you purchase a lifetime annuity with a lump sum payment. In turn, you’ll receive a guaranteed and predetermined income for the rest of your life. A lifetime annuity can be either immediate or deferred. And, knowing this can help you plan accordingly.
You can use a tool, such as the one from Charles Schwab, to get an annuity income estimate in just a few steps. All you have to do is select how long you want the income to last. In this case, for the rest of your lifetime. You then select what to base the estimate on, either the amount invested or the monthly income needed. And, the final step is picking when your payments to begin.
Rate of Return Calculator
With this calculator, you’ll be able to find what you are anticipated rate of return will be. In other words, this lets you measure the profitability of an investment.
American Equity has a Rate of Return Calculator. The company states on its site, “The Rate of Return Calculator will help you explore the power of compounding growth. Simply input the starting and ending premiums, the number of years allowed for growth, and the tax rate, and the calculator will tell you what annual interest rate will be required to achieve that growth.”
Annuity Cost Savings Calculator
While there are a lot of advantages to annuities, if you’re not careful, they can also be costly. Thanks to this calculator, like the one offered by TIAA, you can lower your annuity expenses. This is possible by TIAA compares its Intelligent Variable Annuity (IVA) to other variable annuities. It also takes into account your initial investment, how long you intend to invest, assumed annual rate of return, and current annual expenses.
Can I Retire Calculator
Do you have enough money to retire while being able to maintain the lifestyle you want? One way to find is through a Retirement Calculator.
While this isn’t specifically an annuity calculator, it can let you know if you have enough saved to cover your essential expenses, emergencies, and potentially inflation or investment returns. Bankrate’s Retirement Calculator can be used to help you design your own unique retirement plan by letting you know how much you’ll need to retire comfortably.
Life Expectancy Calculator
Most people don’t want to think when they’re doing to die. However, that’s kind of a sticking point with annuities. Having a ballpark idea of your life expectancy assists you in deciding on an immediate or deferred annuity. Moreover, if you have a longer life expectancy, this may lower your monthly payments.
The Social Security Administration has a Life Expectancy Calculator. However, it’s pretty basic. The calculator from Blueprint Income might be a better option. You take a short quiz that will return a more customized life expectancy that’s been based on some 400,000 NIN data samples.
The bottom line.
The most important knowledge you’ll need when you assess an annuity isn’t the details of the mathematical formulas or the annuity tables. It’s to know what questions to ask and how to understand the answers.
 What Is an Annuity?
 The Difference Immediate Annuities and Deferred Annuities
 How does an annuity work?
 The Benefits of a Deferred Annuity
 The Benefits of an Immediate Payment Annuity
 What Is a Variable Annuity?
 What Is a Fixed Index Annuity?
 What Is an Indexed Annuity?
 A Brief History of Annuities
 Will Annuities Recover?
 Money for Today or the Rest of Your Life?
 Are There Any Other Types of Annuities?
 Become Familiar With Annuity Fees
 What Are Your Payout Options?
 Weighing the Pros and Cons of Annuities
 Is An Annuity Right For You?
 How To Measure Your Annuity
 Understanding Annuity Formulas
 Annuity Calculators
 Questions To Ask Before Buying An Annuity
 Annuity Glossary Index