Retirement
Savings Calculator
Project your retirement savings and estimate monthly retirement income. This free calculator uses compound growth to show if you are on track for retirement.
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How This Retirement Works
The calculator projects compound growth on your current savings and future contributions. The 4% rule estimates sustainable monthly withdrawals by assuming you withdraw 4% annually, a rate historically shown to last 30 years. This gives a sense of retirement income your savings could generate.
When Should You Use This Tool
Use this calculator annually to check retirement progress, when changing jobs, increasing income, or evaluating whether to increase contributions. Starting early maximizes compound growth benefits. Even small increases in monthly contributions significantly impact final results.
Is This Tool Accurate and Safe
This calculator provides estimates based on assumed constant returns. Real markets fluctuate, and sequence of returns matters significantly in retirement. Consider this as one input among professional financial planning. Social Security and pensions supplement these savings. All data stays private.
Frequently Asked Questions
How much do I need to retire comfortably?
Common guidelines suggest 10-12x your annual salary by age 67. However, your actual needs depend on desired lifestyle, location, healthcare costs, and other income sources like Social Security.
What is the 4% rule for retirement?
The 4% rule suggests withdrawing 4% of your retirement savings annually (adjusted for inflation) to make your money last approximately 30 years. Some advisors now recommend 3-3.5% for added safety.
How much should women save for retirement differently?
Women typically live longer than men and may have career gaps affecting Social Security. Consider saving 15-20% of income and planning for a longer retirement period than men might need.
What if I started saving late for retirement?
Maximize contributions using catch-up provisions after 50. Consider working longer, reducing current expenses to save more, or planning for part-time work in early retirement. Starting at any age beats not starting.