Retirement Calculator
Retirement calculators estimate how much you need to save for retirement using compound interest and withdrawal rates. Formula: Future Value = Current Savings × (1+r)^t + Annual Contributions × [((1+r)^t - 1) / r]. The 4% rule suggests withdrawing 4% annually from retirement savings. For example, a 30-year-old saving $500/month with $10,000 initial at 7% returns reaches $566,764 by age 65. Accounts for inflation, Social Security, and life expectancy.
Plan your retirement savings and estimate monthly income in retirement. Calculate if you are on track to meet your retirement goals.
Current Age
Retirement Age
Life Expectancy
Current Retirement Savings
Monthly Contribution
Expected Annual Return
Desired Monthly Income in Retirement
Savings at Retirement (Age 65)
$2,376,362
✓ On track for your retirement goal!
Sustainable Monthly Income
$12,807/mo
Years of Retirement
25 years
Total Contributions
$470,000
Total Investment Returns
$1,906,362
Retirement Planning Guidelines
- 4% Rule: Withdraw 4% of savings annually for sustainable retirement income
- Aim to replace 70-80% of pre-retirement income
- Consider Social Security and pension as additional income sources
- Factor in healthcare costs, which increase with age
How to Use
- Enter your value in the input field
- Click the Calculate/Convert button
- Copy the result to your clipboard
Frequently Asked Questions
- How much do I need to retire?
- The 4% rule suggests you need 25× your annual expenses. For $50,000/year spending, save $1.25 million. More conservative estimates suggest 3-3.5% withdrawal rate. Factor in Social Security, pensions, and healthcare costs when calculating.
- What is the 4% rule?
- The 4% rule states you can withdraw 4% of your retirement savings annually with high probability of not running out over 30 years. $1 million = $40,000/year. Based on historical market returns. May need adjustment for early retirement or conservative portfolios.
- When should I start saving for retirement?
- Start as early as possible. Starting at 25 vs 35 with same contributions can mean 2× more at retirement due to compound interest. Even small amounts early outperform larger amounts later. Time in market is crucial.
- How much should I save for retirement each year?
- Common guidelines: 10-15% of income. Save at least enough to get employer 401(k) match (free money). Max out tax-advantaged accounts: $23,000/year for 401(k), $7,000 for IRA (2024 limits). Increase percentage as income grows.
- How do I account for Social Security?
- Check your estimated benefits at ssa.gov. Average benefit is ~$1,900/month. Full retirement age is 66-67 depending on birth year. Delay to 70 for 8% more per year. Social Security may cover 30-50% of pre-retirement income for average earners.