Retirement Calculator

Plan your retirement savings goals with our comprehensive online tool.

Current Age

years

Planned Retirement

years

Life Expectancy

79 in U.S. on average

Expected Social Security Income

$ per month

Other Income After Retirement

$ per month

Average Investment Return

Inflation Rate (Annual)

Your Current Income

$ per year

Income Needed After Retirement

Your current retirement savings

Future retirement savings

Current Age

years

Planned Retirement

years

Amount Needed at the Retirement Age

Your Retirement Savings Now

Average Investment Return

Current Age

years

Planned Retirement

years

Life Expectancy

79 in U.S. on average

Your Retirement Savings Now

Annual Contribution

Monthly Contribution

Average Investment Return

Inflation Rate (Annual)

The Amount You Have

You Plan to Withdraw

$ per month

Average Investment Return

There was an error with your calculation.

Result

$553,407 at Age 65

Savings Needed at 65: $1,516,653

Equivalent Purchase Power Now: $624,841

Lifestyle after Retirement: $55,198

You will have

You will need

MONTHLY INCOME AFTER RETIREMENT (IF SAVED $553,407):
	ACTUAL AMOUNT	TODAY'S MONEY
Total	$4,600	$1,895
From Savings	$3,100	$1,277
From Social Security	$1,200	$494
From Other Income	$300	$124

MONTHLY INCOME AFTER RETIREMENT (IF SAVED $1,516,653):
	ACTUAL AMOUNT	TODAY'S MONEY
Total	$9,911	$4,083
From Savings	$8,411	$3,465
From Social Security	$1,200	$494
From Other Income	$300	$124

IF YOU SAVE EVERY MONTH UNTIL 65
Amount to Save Every Month	$644.11
Total Principal	$261,880.23
Total Interest	$538,119.77
IF YOU SAVE EVERY YEAR UNTIL 65
Amount to Save Every Year	$7,939.66
Total Principal	$268,189.86
Total Interest	$531,810.14
IF YOU HAVE IT NOW
Additional Amount Needed	$109,288.10
Total Principal	$139,288.10
Total Interest	$660,711.90

Result
Balance at the retirement age of 65	$646,653.85
Equivalent to current purchase power of	$266,412.83
The amount you can withdraw monthly at 65 and increase 3% annually	$3,573.24
Equivalent to current purchase power of	$1,472.13
The amount you can withdraw monthly from 65 to 85	$4,573.73
At age 65, equivalent to current purchase power of	$1,884.32
At age 85, equivalent to current purchase power of	$1,043.30

Result

If withdraw $5,000 per month, $600,000 can last 15 years and 0.7 months.

WITHDRAW LENGTH	WITHDRAW AMOUNT
5 years	$11,555.39/month
10 years	$6,613.44/month
15 years	$5,011.76/month
20 years	$4,243.75/month
25 years	$3,807.73/month
30 years	$3,536.22/month
35 years	$3,357.34/month

What is an Online Retirement Calculator?

An Online Retirement Calculator is a tool designed to help individuals estimate how much money they will need to save and invest to maintain their desired lifestyle during retirement. By inputting factors like age, current savings, income, expenses, and investment returns, it provides a projection of whether your retirement savings will be sufficient to meet your future needs.

How to Use an Online Retirement Calculator?

Enter Your Personal Information:
- Input your current age, expected retirement age, and life expectancy.
Specify Your Current Financial Status:
- Add details about your current savings, annual income, and monthly expenses.
Set Retirement Goals:
- Define your desired annual income during retirement and any significant planned expenses.
Provide Investment Details:
- Include your expected annual return on investments and annual savings contributions.
Adjust for Inflation:
- Factor in inflation to ensure your savings account for rising costs over time.
Review Your Results:
- The calculator will estimate if you’re on track to achieve your retirement goals or if adjustments are needed, like increasing savings or delaying retirement.

Frequently Asked Questions-

What factors influence the accuracy of a retirement calculator?
- The results depend on accurate inputs such as savings, expenses, inflation rates, and expected returns.
Can I use the calculator for early retirement planning?
- Yes, most calculators allow you to set custom retirement ages, even if earlier than traditional retirement ages.
How does inflation affect my retirement savings projections?
- Inflation reduces purchasing power over time, so calculators factor it into future expenses and required savings.
What if I don’t have any retirement savings yet?
- The calculator can help create a savings plan by showing how much you need to save monthly to meet your goals.
Can the calculator include additional income sources like Social Security or pensions?
- Many retirement calculators allow you to input expected income from Social Security, pensions, or part-time work during retirement.