Financial Calculators — Prosperity Life & Financial Solutions

Life Insurance Coverage Calculator

Estimates the coverage amount you may need using the DIME method: Debts, Income replacement, Mortgage, and Education costs.

Total Debts (excluding mortgage) Credit cards, car loans, student loans, personal loans

Annual Income Your current gross annual income

Years of Income to Replace How many years your family would need support (typically 10–20)

Remaining Mortgage Balance Balance on your home mortgage today

Education Costs for Dependents Estimated total college or education costs for children

Existing Life Insurance Coverage Total face value of all current life insurance policies

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Fill in your details and click Calculate to see your estimated coverage need.

Estimated Coverage Need

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recommended life insurance coverage

Debt payoff —

Income replacement —

Mortgage payoff —

Education costs —

Less existing coverage —

Coverage gap —

This is a starting estimate using the DIME method. Your actual need may vary based on your specific situation, assets, and goals. A personalized review can refine this number.

Get a Free Coverage Review

Retirement Income Gap Calculator

Compares your projected monthly retirement income against your estimated monthly expenses to identify any gap that needs to be filled.

Estimated Monthly Expenses in Retirement Housing, food, healthcare, transportation, leisure, etc.

Monthly Social Security Benefit Your estimated benefit at your planned claiming age

Monthly Pension Income Any defined-benefit pension from employer or government

Monthly Annuity or Guaranteed Income Any annuity payouts or other guaranteed income sources

Other Monthly Income (part-time, rental, etc.)

Total Retirement Savings (IRA, 401k, etc.) Used to estimate how long a monthly withdrawal could last

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Enter your income sources and expenses to see your estimated retirement income gap.

Monthly Income Gap

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per month needs to come from savings

Monthly expenses —

Total guaranteed income —

Monthly gap from savings —

Annual withdrawal needed —

Estimated years savings will last —

Assumes a 4% average annual return on savings during distribution. This is a simplified estimate — actual longevity of savings depends on investment returns, inflation, and withdrawal timing.

Get a Free Retirement Consultation

Roth IRA Conversion Calculator

Estimate the potential tax impact of converting traditional retirement savings into a Roth IRA, and see the long-term tax-free growth advantage.

Current Traditional IRA / 401k Balance Your total pre-tax retirement account balance (for reference)

Amount to Convert The portion you are considering converting to a Roth IRA

Current Federal Tax Bracket Your current marginal federal income tax bracket

Expected Retirement Tax Bracket The tax bracket you expect to be in when taking retirement withdrawals

Years Until Retirement

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Enter your conversion amount and tax brackets to see the estimated long-term impact.

Potential Tax-Free Advantage

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estimated advantage over keeping funds in traditional account

Taxes owed on conversion now —

Projected Roth value at retirement (tax-free) —

Traditional value after retirement taxes —

Tax-free growth advantage —

This calculator provides estimates only and does not constitute tax or financial advice. Assumes 6% average annual growth.

Book a Roth Conversion Strategy Session

Want a More Accurate Picture?

These calculators provide quick estimates. For a detailed, personalized review of your retirement income, life insurance needs, or rollover options, schedule your free retirement strategy consultation with Loretta.