Retirement Calculator
Plan retirement savings and estimate income needs. Calculate 401k, pension, Social Security, and investment growth to determine if you can retire comfortably at your target age.
PopularYour Information
Current Savings
Assumptions
7-8% is typical for balanced portfolio
Percentage of your contribution matched by employer
Historical average is 2-3%
Retirement Projection
Great Job!
You're on track to meet your retirement goals! Keep up your current savings plan.
Retirement Timeline
How to Use the Retirement Calculator
Enter your current age, planned retirement age, life expectancy, current savings, monthly contributions, and desired retirement income. The calculator determines if you're on track and how much more to save.
Retirement Planning Fundamentals
The 4% Rule: Withdraw 4% of your retirement savings annually to sustain for 30 years.
Example: Need $50,000/year? You need $1.25 million saved ($50,000 ÷ 0.04)
How Much Do You Need?
| Annual Income | Savings Needed (4% rule) |
|---|---|
| $30,000/year | $750,000 |
| $50,000/year | $1,250,000 |
| $75,000/year | $1,875,000 |
| $100,000/year | $2,500,000 |
Power of Starting Early
Saving $500/month at 7% return:
- Start at 25, retire at 65: $1.26 million
- Start at 35, retire at 65: $607,000 (52% less!)
- Start at 45, retire at 65: $255,000 (80% less!)
Retirement Savings Accounts
- 401(k): Employer-sponsored, tax-deferred, often with matching (contribute enough for full match!)
- Traditional IRA: Tax-deductible contributions, $6,500/year limit (2024)
- Roth IRA: After-tax contributions, tax-free withdrawals, $6,500/year limit
- 403(b): Like 401(k) for non-profits and educators
- SEP IRA: For self-employed, up to $66,000/year (2024)
Retirement Planning Tips
- Start as early as possible to maximize compound growth
- Maximize employer 401(k) match (it's free money!)
- Increase contributions by 1% annually
- Diversify investments (stocks, bonds, real estate)
- Reduce allocation to risky assets as you near retirement
- Plan for healthcare costs (Medicare doesn't cover everything)
- Consider inflation - your expenses will increase over time
- Have 3-6 months emergency fund before aggressive retirement saving