Retirement Calculator

Your current age determines the time horizon for your savings to grow before retirement. Starting younger allows your investments to take full advantage of compounding, leading to substantial growth over time. If you're starting later, focus on higher contributions or retire a year or two later to maximize your financial security.

Enter what you earn before taxes each year. If your income fluctuates, use an average. Your earnings determine how much you can realistically save while covering current expenses.

Enter the total in all your retirement accounts: 401(k), IRA and any other savings earmarked for retirement. Include all relevant accounts, such as traditional IRAs, Roth IRAs and employer-sponsored plans, for accurate results. The calculator uses this amount, plus your future contributions and investment returns, to project whether you'll meet your goals.

Contribute at least 10% of your monthly income toward retirement savings, though increasing this amount helps. Enter your amount to see how consistent saving combined with compounding accelerates your progress. If your employer offers 401(k) matching, make sure you contribute enough to capture the full match.

Plan for 70% to 80% of your pre-retirement income to sustain your standard of living after retiring. This figure should cover essentials like housing and health care in retirement, plus discretionary expenses such as travel. Include this estimate to assess whether your projected savings will meet your expected needs or require adjustments.

Leave this blank or add income from Social Security, pensions or annuities. Social Security, pension and annuity income make your projection more accurate, though they're optional.

Social Security provides monthly payments based on your work history. Pensions and annuities add steady income. Enter these amounts to see how much of your budget they'll cover versus what you'll need from savings.

The age when you plan to retire impacts how long your investments can grow and how many years your savings need to last. If you were born in 1960 or later, full Social Security benefits become available at age 67. Delaying retirement allows more time for compounding, increasing your nest egg. Retiring earlier may require larger contributions upfront to account for a longer withdrawal period.

How long will you live? Use averages based on your gender, lifestyle and family history. Planning for more years in retirement protects you from outliving your money. Consider your spouse's life expectancy as well, since the surviving partner will need income throughout their lifetime.

Enter how much your investments might grow each year before you retire. A mixed portfolio of stocks and bonds typically returns 6% to 8% annually over the long term. Use a realistic rate to see accurate projections of your savings growth.

After you retire, your investment strategy typically shifts toward preserving savings rather than aggressive growth. Conservative portfolios focused on bonds and fixed-income assets usually return 3% to 5% annually. Enter this rate so the calculator can estimate how your savings will sustain you.

Inflation erodes your money's buying power over time. The current U.S. inflation rate averages around 3.0%. Enter this rate to see a realistic projection of what you'll need to maintain your lifestyle. Adjust the figure based on economic forecasts if you prefer.

Salary raises or bonuses can greatly increase your retirement savings. The calculator can factor in an average annual income increase to project higher future contributions. For example, a 3% yearly raise can grow your retirement balance over time, making it an important consideration in long-term planning.