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Retirement Calculator

Plan your retirement savings and calculate how much you need to retire comfortably. Get personalized recommendations based on your goals and timeline.

Retirement Planning Details

Average life expectancy is ~78-82 years, plan for longer to be safe

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Most experts recommend 70-90% of pre-retirement income

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Historical stock market average is ~10%, conservative estimate 6-8%

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Retirement Projection

$1,200,000
Total Needed at Retirement
$890,000
Projected Savings
$310,000
Shortfall
Years to Retirement: 30 years
Years in Retirement: 20 years
Annual Income Needed: $60,000
Monthly Contribution: $500
Expected Return: 7.0%

Retirement Readiness

Behind Target

You may need to increase contributions or adjust retirement plans.

Recommendations

Additional Monthly Needed: $207
Total Monthly Suggested: $707
% of Income to Save: 11.3%

Retirement Scenarios

Conservative Plan

$1,050,000
Total at Retirement
Expected Return: 5%
Monthly Needed: $680
Risk Level: Low

Bonds, CDs, conservative funds

Moderate Plan

$890,000
Total at Retirement
Expected Return: 7%
Monthly Needed: $500
Risk Level: Medium

Balanced portfolio, index funds

Aggressive Plan

$760,000
Total at Retirement
Expected Return: 9%
Monthly Needed: $380
Risk Level: High

Growth stocks, emerging markets

Retirement Planning Tips

Start Early

Time is your greatest asset in retirement planning. Starting early allows compound interest to work in your favor. Even small amounts can grow significantly over decades.

Take Advantage of Employer Match

If your employer offers 401(k) matching, contribute at least enough to get the full match. This is essentially free money that can significantly boost your retirement savings.

Diversify Your Investments

Don't put all your retirement savings in one type of investment. A diversified portfolio can help reduce risk while maintaining growth potential over the long term.

Increase Contributions Over Time

As your income grows, increase your retirement contributions. Many plans allow automatic annual increases, making it easier to boost your savings rate painlessly.

Consider Multiple Account Types

Use a mix of traditional 401(k)/IRA (tax-deferred) and Roth accounts (tax-free growth). This provides tax diversification and flexibility in retirement.

Plan for Healthcare Costs

Healthcare costs typically increase in retirement. Consider Health Savings Accounts (HSAs) and factor medical expenses into your retirement income planning.

Age-Based Savings Guidelines

How Much Should You Have Saved?

These benchmarks are based on multiples of your annual income and can help you track your progress:

Age 30: 1x annual income
Age 35: 2x annual income
Age 40: 3x annual income
Age 45: 4x annual income
Age 50: 6x annual income
Age 55: 7x annual income
Age 60: 8x annual income
Age 67: 10x annual income

Note: These are general guidelines. Your actual needs may vary based on your lifestyle, health, location, and retirement goals. The earlier you start, the easier it becomes.

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