Retirement Calculator
Calculate retirement savings and needs
Retirement Calculator
Historical stock market average: ~7-10% per year
How to Use
- Enter your current age and target retirement age
- Input your current retirement savings
- Specify how much you plan to contribute monthly
- Set expected annual return rate (7-10% is typical for stocks)
- Calculate to see projected savings at retirement
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About Retirement Calculator
Plan your financial future with our comprehensive retirement calculator. This powerful tool helps you determine how much money you'll need to save for retirement, how much to contribute monthly, when you can afford to retire, and whether your current savings plan will meet your goals. Calculate retirement needs based on desired retirement income, expected lifespan, inflation rates, investment returns, and current savings. Essential for young professionals starting retirement planning, mid-career workers adjusting their strategy, pre-retirees finalizing plans, and financial advisors helping clients. The calculator projects compound growth of investments, accounts for inflation eroding purchasing power, shows retirement savings milestones, and provides actionable insights for achieving retirement goals. Make informed decisions about 401(k) contributions, IRA investments, and general retirement savings with data-driven projections.
Key Features
Comprehensive Retirement Projections
Calculate how much you need to save, monthly contribution requirements, and projected retirement age based on your financial goals and current situation.
Inflation Adjustment
Accounts for inflation reducing purchasing power over time. See real values adjusted for inflation to understand true future value.
Compound Interest Modeling
Projects investment growth with compound returns. Understand how time and returns multiply your retirement savings exponentially.
Multiple Scenarios
Compare different contribution amounts, return rates, and retirement ages. See how changes affect your retirement outcome.
Visual Projections
Charts show savings growth over time, milestone progress, and projected income in retirement for easy understanding.
Retirement Income Planning
Calculate how long savings will last in retirement and monthly income from retirement nest egg based on withdrawal rates.
How to Use Retirement Calculator
Enter your current age and desired retirement age
Enter your current age and desired retirement age. Follow the tool interface to complete this step.
Input your current retirement savings (401k, IRA, investments)
Input your current retirement savings (401k, IRA, investments). Follow the tool interface to complete this step.
Enter how much you contribute monthly to retirement
Enter how much you contribute monthly to retirement. Follow the tool interface to complete this step.
Set expected annual return rate (typically 6-8% for diversified portfolio)
Set expected annual return rate (typically 6-8% for diversified portfolio). Follow the tool interface to complete this step.
Input desired annual retirement income (in today's dollars)
Input desired annual retirement income (in today's dollars). Follow the tool interface to complete this step.
Set inflation rate (typically 2-3% historically)
Set inflation rate (typically 2-3% historically). Follow the tool interface to complete this step.
View projections showing if you're on track and adjustments needed
View projections showing if you're on track and adjustments needed. Follow the tool interface to complete this step.
Frequently Asked Questions
How much money do I need to retire?
A common rule is 25x your desired annual retirement income (4% withdrawal rule). If you want $50,000/year, you need $1.25 million. However, this varies based on retirement age, lifespan, Social Security, pensions, and healthcare costs. Our calculator helps personalize this number.
What's the 4% rule?
The 4% rule suggests withdrawing 4% of your retirement portfolio annually, adjusted for inflation each year. Historically, this withdrawal rate allows portfolios to last 30+ years. For $1 million saved, that's $40,000/year. This is a guideline, not a guarantee.
What return rate should I expect?
Historical stock market averages around 10% nominal (7% after inflation). Conservative diversified portfolio: 6-7%. Aggressive growth: 8-10%. Bond-heavy: 4-5%. Don't assume returns - markets fluctuate. Our calculator lets you model different rates.
Should I account for inflation?
Absolutely! Inflation historically averages 2-3%. $50,000 today won't buy the same in 30 years. Calculate retirement needs in today's dollars, but understand you'll need more nominal dollars in the future to maintain purchasing power.
What about Social Security?
Social Security provides income but typically replaces only 40% of pre-retirement income for average earners. Don't rely solely on it. Calculate retirement needs beyond Social Security to maintain your desired lifestyle.
When should I start saving for retirement?
As early as possible! Thanks to compound interest, someone starting at 25 needs to save far less monthly than someone starting at 35 for the same retirement goal. Starting early is the single most powerful retirement planning action.
How much should I contribute to 401(k)?
At minimum, contribute enough to get full employer match (free money!). Ideally, 15% of gross income including employer match. Max out 401(k) if possible ($22,500 limit in 2023, $30,000 if 50+). Our calculator shows exactly what you need.
Can I retire early?
Yes, but it requires aggressive saving and careful planning. Early retirement means savings must last longer with no Social Security until 62+. Use our calculator to model early retirement scenarios and required savings rates.
Use Cases
- Early Career Retirement Planning: Young professionals can see the power of starting early. Even small monthly contributions grow substantially over 30-40 years through compound interest.
- Mid-Career Strategy Adjustment: Evaluate if current savings rate is sufficient or if increased contributions are needed. Understand trade-offs between retirement age and savings.
- Pre-Retirement Final Planning: Verify savings will support desired lifestyle, decide exact retirement timing, and adjust withdrawal strategy for sustainable income.
- Financial Goal Setting: Set specific, data-driven retirement savings goals. Know exactly how much to save monthly to achieve desired retirement lifestyle.
- What-If Scenario Analysis: Model different scenarios: retiring earlier/later, higher/lower investment returns, different contribution levels. Make informed decisions with data.