Retirement Calculator
Plan your retirement with confidence. Calculate how much you need to save, track your progress, and ensure you're on the right path to a comfortable retirement.
Retirement Goal
Calculate exactly how much you need to retire comfortably
Savings Progress
Track your retirement savings progress over time
Timeline Planning
See if you're on track to retire when you want
How Much Do You Need to Retire?
Most financial experts recommend saving 10-12x your final working year's income for retirement. However, your actual needs depend on your expected lifestyle, health costs, and other factors.
The 4% Rule
A common guideline suggests you can safely withdraw 4% of your retirement savings annually. This means you need 25x your desired annual retirement income saved.
Example Calculation
If you want $60,000/year in retirement:
$60,000 ÷ 0.04 = $1,500,000 needed
Factors to Consider
- Healthcare costs: Often increase with age
- Inflation: Reduces purchasing power over time
- Lifestyle changes: Travel, hobbies, downsizing
- Social Security: May cover 40% of pre-retirement income
- Taxes: Traditional 401(k) withdrawals are taxable
Retirement Savings Strategies
Start Early & Contribute Consistently
Time is your greatest asset. Starting to save at 25 vs. 35 can mean hundreds of thousands more in retirement, even with smaller monthly contributions.
Maximize Employer Match
Always contribute enough to get your full employer 401(k) match. It's free money with an immediate 100% return on investment.
Use Tax-Advantaged Accounts
401(k) - Traditional
Tax-deductible contributions, taxable withdrawals
Roth IRA/401(k)
After-tax contributions, tax-free withdrawals
HSA (Health Savings Account)
Triple tax advantage: deductible, growth, withdrawals
Increase Contributions Over Time
Increase your savings rate by 1% annually or whenever you get a raise. Small increases compound into significant additional retirement wealth.
Retirement Savings by Age Guidelines
Age 30
Have 1x your annual salary saved
Save 15% of income
Age 40
Have 3x your annual salary saved
Continue 15% savings rate
Age 50
Have 6x your annual salary saved
Consider catch-up contributions
Age 67
Have 10x your annual salary saved
Ready for retirement
These are general guidelines. Your actual needs may vary based on your retirement goals and lifestyle.
Retirement Planning FAQ
When should I start saving for retirement?
The earlier you start, the better. Even small amounts saved in your 20s can grow into substantial sums by retirement due to compound interest. If you haven't started yet, start today regardless of your age.
Should I prioritize 401(k) or Roth IRA?
If your employer offers a 401(k) match, contribute enough to get the full match first. Then consider a Roth IRA for additional savings. The choice between traditional and Roth depends on your current vs. expected retirement tax bracket.
What's a realistic rate of return for retirement planning?
Conservative planning uses 6-7% annual returns (after inflation). Historical stock market averages are around 10%, but it's better to be conservative and exceed expectations than fall short of an aggressive projection.
How much will I get from Social Security?
Social Security typically replaces about 40% of pre-retirement income for average earners. You can get your estimated benefits at ssa.gov. Don't rely solely on Social Security - it's designed to supplement, not replace, your retirement savings.
Should I pay off debt or save for retirement?
Always get your employer 401(k) match first (it's free money). Then pay off high-interest debt. For lower-interest debt, you can often benefit more from investing for retirement while making minimum payments.
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Start Building Your Retirement Today
The best time to start saving for retirement was 20 years ago. The second best time is now.