A retirement calculator estimates whether your current savings and income are on track to support your retirement goals.
Your age today.
The age you plan to stop working.
Your current pre-tax income.
Combined 401(k), IRA, and other retirement balances.
Including any employer match.
A common guideline is 70% to 80% of pre-retirement income.
Social Security, pensions, or annuity payments.
Expected annual growth on your investments.
Results are shown in today's dollars.
How long your savings need to last.
At 65, you're projected to have more than you need for a 25-year retirement.
Projected savings at 65
To cover your expense gap
All figures are shown in today's dollars, adjusted for inflation.
These results are estimates, not predictions. They're calculated from the figures you entered and assume your rate of return and inflation rate hold steady every year, which real markets don't do. Change any input and the result changes. Use this to compare scenarios, not to plan around a specific number.
Enter your current age, retirement age, annual income, current retirement savings, monthly contribution, and estimated monthly expenses in retirement. The calculator compares what you're projected to have against what you're projected to need.
Current age and retirement age set the number of years your savings have to grow before retirement.
Annual income is your current pre-tax income, used to estimate your savings capacity and future Social Security benefit.
Current retirement savings is the combined balance of your 401(k), IRA, and other retirement accounts today.
Monthly contribution is the amount you add to your retirement accounts each month, including any employer match.
Monthly retirement expenses is your estimated monthly budget once you stop working. A common guideline is 70% to 80% of your pre-retirement income.
Other retirement income includes Social Security, pensions, or annuity payments you expect to receive.
Rate of return is the annual growth rate you expect on your investments. Inflation rate adjusts your projected expenses so results are shown in today's dollars.
The calculator compares your projected retirement savings and income against your estimated retirement expenses. A gap between the two indicates your current plan may not support your target lifestyle.
Retirement planning is the process of building enough income and savings to support your living expenses after you stop working. It typically combines three sources: personal savings and investments, such as a 401(k), IRA, or brokerage account; Social Security; and any pension or annuity income.
Most retirement plans are built around two numbers: how much income you'll have, and how much income you'll need. Retirement income commonly needs to replace 70% to 80% of pre-retirement income, since some costs, such as retirement account contributions and commuting, go away once you stop working.
The two biggest levers in a retirement plan are how much you save and how long you save it. Additional years of contributions give your investments more time to compound.
Retirement accounts fall into two tax categories. Traditional accounts use pre-tax contributions and taxable withdrawals. Roth accounts use after-tax contributions and tax-free withdrawals.
Once you reach RMD age, 73 or 75 depending on your birth year, the IRS requires minimum withdrawals from most pre-tax retirement accounts.
Closing a gap between what you'll have and what you'll need comes down to a few levers: contribution rate, retirement age, and investment returns. A fiduciary financial advisor can help you decide which combination works for your situation. Matching with an advisor is free and comes with no pressure to commit.
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