Retirement Calculator

Plan for your retirement by calculating how much you need to save and what your retirement income will be.

Calculation Type:

Current Age:

Retirement Age:

Current Annual Income ($):

Income Replacement Ratio (%): Percentage of current income needed in retirement

Current Retirement Savings ($):

Current Monthly Contribution ($):

Target Retirement Savings ($):

Expected Annual Return (%): Historical stock market average is around 7-10%

Expected Inflation Rate (%):

Life Expectancy:

Expected Annual Social Security ($): Optional: Estimated annual Social Security benefits

Retirement Planning Information

Retirement planning is crucial for financial security in your later years. This calculator helps you understand how much you need to save.

Key Retirement Planning Concepts:

Income Replacement Ratio: Percentage of pre-retirement income needed
4% Rule: Withdraw 4% of savings annually in retirement
Compound Interest: Earnings on both principal and previous earnings
Inflation Impact: Reduces purchasing power over time

Retirement Savings Vehicles:

401(k): Employer-sponsored retirement plan with potential matching
IRA: Individual Retirement Account with tax advantages
Roth IRA: After-tax contributions, tax-free withdrawals in retirement
Social Security: Government retirement benefit program

Retirement Planning Strategies:

Start saving as early as possible to maximize compound growth
Contribute enough to get full employer 401(k) matching
Increase contributions by 1-2% annually or with raises
Diversify investments across different asset classes
Consider both traditional and Roth retirement accounts
Plan for healthcare costs in retirement

Common Retirement Planning Mistakes:

Starting too late or not saving enough
Underestimating life expectancy and retirement length
Not accounting for inflation
Withdrawing from retirement accounts early
Not taking advantage of employer matching