Retirement Savings Calculator
Plan your retirement and see if you're on track to meet your goals
A retirement savings calculator projects how much you'll have saved by retirement and whether it's enough to maintain your lifestyle. It factors in current savings, contributions, employer matches, Social Security, and investment returns to give you a comprehensive picture.
Formula:
Retirement Need = Annual Expenses × 25 (4% Rule)The 4% withdrawal rule suggests you need 25 times your annual expenses to retire safely.
- 1
Enter your current age and target retirement age
- 2
Input current retirement savings balance
- 3
Add monthly contributions and employer match
- 4
Set expected rate of return
- 5
Enter expected annual expenses in retirement
- 6
View retirement readiness score and recommendations
- Most people underestimate retirement savings needs
- Starting early dramatically reduces required savings
- Employer match is free money - always max it out
- Social Security alone won't maintain your lifestyle
- Healthcare costs are a major retirement expense
- Annual retirement planning review
- Deciding on contribution amounts
- Evaluating early retirement feasibility
- Planning for major life changes
- Comparing different retirement scenarios
- Stress-testing your plan
- •Max out employer match first - it's an immediate 50-100% return
- •Increase contributions by 1% annually, especially after raises
- •Consider Roth accounts for tax diversification in retirement
- •Review and rebalance allocations annually
Have questions about using this calculator? Check out our financial guides or contact us for help.
Projected Retirement Savings
$2,376,362
Recommended Savings
$1,500,000
You're on track!
Based on your current plan, you'll have enough saved to support $5,000monthly income in retirement using the 4% withdrawal rule.
In 35 years at retirement age 65, you'll have accumulated $2,376,362 with your current savings plan.
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Frequently Asked Questions
How much money do I need to retire?
A common rule is to save 25 times your expected annual retirement expenses (the 4% rule). If you need $60,000/year, you'd need $1.5 million. However, this varies based on your lifestyle, health, Social Security benefits, and other income sources.
What is the 4% rule for retirement?
The 4% rule suggests you can safely withdraw 4% of your retirement savings in the first year, then adjust for inflation each year. This strategy is designed to make your money last 30 years. For example, with $1 million saved, you could withdraw $40,000 in year one.
What's a realistic rate of return for retirement planning?
Conservative estimates use 5-6% for a balanced portfolio, moderate estimates use 7-8%. The historical stock market average is about 10%, but after inflation it's closer to 7%. Use lower estimates for more conservative planning.
How much should I save each month for retirement?
A common guideline is to save 15% of your gross income for retirement, including any employer match. If you start late, you may need to save more. Use this calculator to determine the monthly amount needed to reach your specific goal.
When should I start saving for retirement?
Start as early as possible! Thanks to compound interest, someone who starts at 25 and saves for 10 years may end up with more than someone who starts at 35 and saves for 30 years. Every year you delay costs you significantly in lost compound growth.