Retirement Calculator
Calculate how much you'll have saved for retirement. Plan your retirement savings with monthly contributions and see your projected retirement income
Retirement Planning
Savings Breakdown
Savings Milestones
Age | Years from Now | Projected Savings |
---|---|---|
35 | 5 years | $49822 |
40 | 10 years | $106214 |
45 | 15 years | $186071 |
50 | 20 years | $299160 |
55 | 25 years | $459310 |
60 | 30 years | $686108 |
65 | 35 years | $1007293 |
Retirement Planning Guide
Maximize Your Savings
- Take advantage of employer 401(k) matching - it's free money
- Consider maxing out IRA contributions ($6,500 for 2024, $7,500 if 50+)
- Increase contributions with each raise to avoid lifestyle inflation
- Start as early as possible to benefit from compound interest
Investment Strategies by Age
- 20s-30s: Higher risk tolerance - consider 80-90% stocks
- 40s: Moderate approach - 60-70% stocks, 30-40% bonds
- 50s+: Preservation focus - gradually shift to more bonds
- Near retirement: Consider the "100 minus age" rule for stock percentage
How to Use
- 1
Enter current age
Input your current age to calculate years until retirement
- 2
Set retirement age
Choose when you plan to retire (typically 60-70)
- 3
Enter current savings
Input how much you have saved for retirement so far
- 4
Set monthly contribution
Enter how much you can save each month
- 5
Expected return rate
Set your expected annual investment return (typically 5-10%)
- 6
View projections
See your projected retirement savings and monthly income
Frequently Asked Questions
What is the 4% rule for retirement?
What is the 4% rule for retirement?
The 4% rule suggests you can withdraw 4% of your retirement savings in the first year, then adjust for inflation each year. This strategy aims to make your savings last 30 years. For example, with $1 million saved, you could withdraw $40,000 in the first year.
How much should I have saved by age?
How much should I have saved by age?
Financial experts recommend: 1x annual salary by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67. These are guidelines - your needs may vary based on lifestyle, health, and retirement plans.
What's the difference between traditional and Roth retirement accounts?
What's the difference between traditional and Roth retirement accounts?
Traditional accounts (401k, IRA) offer tax deductions now but you pay taxes on withdrawals in retirement. Roth accounts use after-tax money but withdrawals are tax-free in retirement. Choose based on whether you expect to be in a higher or lower tax bracket in retirement.
How does inflation affect retirement planning?
How does inflation affect retirement planning?
Inflation reduces purchasing power over time. A 2.5% inflation rate means $100 today will only buy $61 worth of goods in 20 years. This calculator accounts for inflation to show your savings in "today's dollars" so you can better understand your future purchasing power.