Retirement Calculator

Plan your retirement by calculating how much you need to save, whether your savings will last, and what adjustments to make for a comfortable retirement.

Retirement Details

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Enter your retirement details and click "Calculate" to see your projection.

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Pro Tip

Consider using the 4% withdrawal rate as a starting point. If your annual expenses are $60,000, your FIRE number is $1.5 million. Use tax-advantaged accounts to maximize savings.

Try the FIRE Calculator →

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Planning for Retirement

Retirement planning is the process of determining how much money you need to live comfortably after you stop working, and creating a strategy to accumulate that amount. The earlier you start, the more time compound growth has to build your nest egg.

A common rule of thumb is to aim for 70-80% of your pre-retirement income as annual retirement spending. However, your actual needs depend on your lifestyle, health care costs, housing situation, and desired activities in retirement.

The 4% rule suggests that you can safely withdraw 4% of your retirement portfolio annually without running out of money over a 30-year retirement. This means you need approximately 25 times your desired annual withdrawal saved by retirement.

Social Security, pensions, and other income sources can reduce the amount you need from personal savings. Consider all income streams when planning, but do not rely solely on Social Security as it may only cover a portion of your expenses.

Retirement Savings Growth

FV = PV(1 + r/12)12t + PMT × [((1 + r/12)12t − 1) / (r/12)]

Where:

FV = Total savings at retirement

PV = Current retirement savings

r = Annual rate of return

t = Years until retirement

PMT = Monthly contribution

Example

$50,000 saved, $1,000/month, 7% return, 35 years to retirement:

  • • Current savings grow to: ~$565,497
  • • Monthly contributions grow to: ~$1,814,941
  • • Total at retirement: ~$2,380,438
  • • At $60,000/yr withdrawal, money lasts 40+ years

Frequently Asked Questions

How much do I need to retire comfortably?
A common guideline is to have 25 times your annual expenses saved. If you spend $60,000 per year, aim for $1.5 million. However, this varies based on your lifestyle, location, health needs, and other income sources like Social Security.
What is the 4% rule?
The 4% rule states that you can withdraw 4% of your retirement savings each year and have a high probability of not running out over a 30-year retirement. A $1 million portfolio would support $40,000 in annual withdrawals.
Should I adjust my investment strategy near retirement?
Yes, most advisors recommend shifting toward more conservative investments as you near retirement. A common guideline is to hold your age as a percentage in bonds (e.g., 60% bonds at age 60).
How does inflation affect my retirement plan?
Inflation typically averages 2-3% per year, meaning costs double roughly every 24-36 years. Your withdrawal needs will increase over time, which is why growth-oriented investments remain important even in retirement.
When should I start saving for retirement?
The earlier the better. Starting at 25 vs 35 can mean the difference between $1.5 million and $700,000 at retirement with the same monthly contributions, thanks to compound growth.