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Retirement Calculator

Estimate how much you need to save for retirement

Retirement Calculator

Current Age

Retirement Age

Life Expectancy

Current Savings ($)

Monthly Contribution ($)

Expected Annual Return (%)

Desired Monthly Income in Retirement ($)

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About This Calculator

A retirement calculator estimates how much money you need to save for a comfortable retirement and whether you are on track to reach that goal. It considers your current age, target retirement age, current savings, monthly contributions, expected investment return rate, inflation rate, and desired annual retirement income. A common rule of thumb is that you need 25 times your desired annual retirement spending (the "4% rule"), meaning if you want $60,000 per year in retirement, you need approximately $1.5 million saved. The calculator models your savings trajectory from now until retirement, then simulates withdrawals during retirement to show whether your money will last through your expected lifespan. Inflation is a critical factor — at 3% inflation, $60,000 today has the purchasing power of only about $33,000 in 20 years, so your target must be in future dollars. This tool helps you determine how much to save monthly, how adjusting your retirement age affects your numbers, and the impact of different asset allocations. Starting early is the single most powerful lever due to compound growth — saving $500 per month from age 25 yields roughly twice as much at 65 as starting at age 35.

How to Use

1
Enter your profile
Input your current age, retirement age, life expectancy, current savings, monthly contribution, and expected return rate.
2
Set your goal
Enter your desired monthly retirement income.
3
View your plan
See whether your savings meet your retirement goal and what adjustments may help.

Frequently Asked Questions

Q. How much money do I need to retire?

A widely used guideline is 25 times your desired annual retirement spending (based on the 4% safe withdrawal rate). If you need $50,000 per year, target $1.25 million. However, individual needs vary based on lifestyle, healthcare costs, Social Security benefits, and whether you have a pension. Use this calculator to model your specific situation.

Q. What is the 4% rule?

The 4% rule states that you can withdraw 4% of your retirement portfolio in the first year, then adjust for inflation each subsequent year, with a high probability of your money lasting 30 years. Based on the Trinity Study, it assumes a balanced stock/bond portfolio. In low-return environments, some advisors suggest 3–3.5% to be more conservative.

Q. At what age should I start saving for retirement?

As early as possible. Someone who starts saving $500/month at age 25 at a 7% return accumulates about $1.2 million by 65. Starting at 35, the same contribution yields only about $567,000. Those extra 10 years of compounding nearly double the result — time is the most powerful factor in retirement planning.

Q. How does inflation affect retirement savings?

Inflation erodes purchasing power, meaning you need more money in the future to maintain today's living standard. At 3% inflation, prices roughly double every 24 years. A retirement that costs $50,000 per year today would cost about $90,000 in 20 years. Always plan in inflation-adjusted (real) terms.

Disclaimer: Results are for informational purposes only and do not constitute professional advice. Always consult qualified professionals for important decisions.

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