Retirement Calculator
Use this calculator to estimate how much you need to save for retirement and whether you're on track to meet your goals. Adjust the inputs to see how different scenarios affect your retirement readiness.
Your Information
Current Savings & Contributions
Retirement Income
Your Retirement Projection
Enter your information and click "Calculate Retirement" to see your personalized retirement projection.
Disclaimer: This calculator provides estimates based on the information you provide and various assumptions about future economic conditions. Actual results may vary. This tool is for educational purposes only and does not constitute financial advice. Consider consulting with a qualified financial advisor for personalized retirement planning.
Retirement Planning Basics
Successful retirement planning involves understanding several key factors that affect your financial security in retirement:
The Power of Starting Early
Due to compound interest, the earlier you start saving for retirement, the less you'll need to save overall. Even small contributions can grow significantly over time.
The 4% Rule
A common guideline suggests that withdrawing 4% of your retirement savings in the first year, then adjusting that amount for inflation in subsequent years, provides a sustainable withdrawal strategy for a 30-year retirement.
Inflation's Impact
Inflation erodes purchasing power over time. A 3% annual inflation rate means that $100 today will only buy $40 worth of goods in 30 years.
Diversification
Spreading investments across different asset classes can help manage risk while pursuing growth, especially important as you approach retirement.
Remember that retirement planning is not a one-time event but an ongoing process that should be reviewed and adjusted regularly as your circumstances and goals change.