How much do I need to retire?

A common rule is to save 25 times your annual expenses (the 4% rule). For $60,000/year in retirement, you need about $1.5 million saved.

The 4% rule suggests withdrawing 4% of your retirement savings in the first year, then adjusting for inflation. Historically, this approach has sustained a 30-year retirement.

When should I start saving for retirement?

As early as possible! Starting at 25 vs 35 can result in nearly double the savings by retirement age due to compound growth.

Should I include Social Security?

Social Security can supplement retirement income, but benefits may be reduced in the future. Plan conservatively by not relying solely on Social Security.

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Retirement planning starts with understanding how much you need to save. This calculator estimates your retirement savings goal based on your desired lifestyle, expected Social Security, and investment returns.

Retirement Calculator

Current Age

Retirement Age

Current Savings

Monthly Contribution

Expected Annual Return

Desired Annual Retirement Income

Results

Savings at Retirement

$2,376,362.19

Monthly Income

$7,921.21

total Contributions

$470,000.00

total Interest

$1,906,362.19

Visualization

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How It Works

We project your savings growth until retirement, then calculate how long your nest egg will last based on your withdrawal rate and expected returns during retirement.

Formula

Retirement Savings = Contributions × Growth Factor; Withdrawal = Savings × Safe Withdrawal Rate

Assumptions

Constant contribution amounts (adjusted for inflation)
Average market returns
4% safe withdrawal rate
Social Security benefits at full retirement age

This calculator provides estimates for informational purposes only and does not constitute financial, tax, or legal advice. Consult a licensed professional before making financial decisions.

Frequently Asked Questions

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