Retirement Calculator

Calculate if you're on track for retirement and see how your savings will grow over time

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Current Situation

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Retirement Details

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% of pre-retirement income

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How to Use the Retirement Calculator

Our free retirement calculator helps you determine if you're on track for retirement. Enter your current age, savings, income, and retirement goals to see projections of your future savings and whether you'll have enough to maintain your desired lifestyle throughout retirement.

Frequently Asked Questions

How much do I need to retire?

The amount you need to retire depends on your desired lifestyle, expected expenses, and life expectancy. A common rule of thumb is to aim for 70-80% of your pre-retirement income. Use our retirement calculator to estimate your specific needs based on your situation.

How is retirement savings calculated?

Our calculator projects your retirement savings by taking your current savings, adding regular contributions with compound interest growth until retirement, then calculating if this amount will cover your expenses throughout retirement. It accounts for inflation, investment returns, and other retirement income sources like Social Security.

What is a good retirement savings rate?

Financial experts typically recommend saving 10-15% of your gross income for retirement, including employer matches. If you're starting late, you may need to save 20% or more. The earlier you start, the less you need to save monthly due to compound interest.

What rate of return should I expect in retirement?

Before retirement, a diversified portfolio might average 6-8% annual returns. During retirement, when preservation becomes more important, expect 4-6% returns with a more conservative allocation. Actual returns vary based on market conditions and your investment strategy.

How does inflation affect retirement planning?

Inflation reduces the purchasing power of your money over time. With a 3% annual inflation rate, you'll need about twice as much money in 24 years to maintain the same lifestyle. Our calculator accounts for inflation when projecting your retirement needs.

What is the 4% retirement withdrawal rule?

The 4% rule suggests withdrawing 4% of your retirement savings in the first year, then adjusting for inflation each subsequent year. This strategy aims to make your money last 30 years. However, your personal situation may require a different withdrawal rate.