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Retirement Calculator - Retirement Savings Planner

Free retirement calculator to estimate your retirement savings goal, monthly contributions needed, and projected retirement income.

Retirement Calculator

Plan your retirement and calculate required savings

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Total retirement savings you have now (401k, IRA, etc.).

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How much you save for retirement each month.

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Average annual investment return. Historical stock market average is ~7-10%.

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How much monthly income do you want in retirement?

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Retirement Plan

Enter your values to see results

and click the "Calculate" button

Retirement Planning Basics

Retirement planning helps ensure you have enough money to maintain your lifestyle after you stop working. Key factors include when you start saving, how much you contribute, investment returns, and how long your retirement lasts. Starting early is crucial due to compound interest - even small amounts grow significantly over decades.

How to Use This Calculator

  1. Enter your current age and planned retirement age
  2. Input your current retirement savings
  3. Specify your monthly contribution
  4. Enter expected investment return rate
  5. Set your desired monthly retirement income
  6. Click Calculate to see your retirement projection

The 4% Rule

Annual Withdrawal = Total Savings × 4%

The 4% rule suggests you can withdraw 4% of your retirement savings annually with a high probability of not running out over 30 years. Required Savings = Annual Expenses × 25.

Frequently Asked Questions

How much do I need to retire?
Using the 4% rule: multiply your desired annual income by 25. For $60,000/year, you need $1.5 million. Adjust for Social Security and pensions. Many financial advisors suggest 10-12x your final salary.
What is the 4% rule?
The 4% rule states you can withdraw 4% of your retirement savings in year one, then adjust for inflation each year, with a high probability of not outliving your money over 30 years. It's based on historical market returns.
When should I start saving for retirement?
As early as possible. Thanks to compound interest, saving $200/month from age 25 results in more than saving $400/month from age 35. Every decade delay roughly doubles the required savings rate.
How much should I save each month?
A common guideline is 15% of gross income, including any employer match. If starting late, you may need 20-25% or more. Use this calculator to determine your specific needs.
What return should I expect on investments?
Historical stock market returns average 7-10% annually before inflation. A balanced portfolio might expect 5-7%. Be conservative in projections - it's better to have more than less.
Should I include Social Security in my planning?
Yes, but conservatively. Social Security may provide 30-40% of pre-retirement income for average earners. Check your estimated benefit at ssa.gov, but plan to not rely on it entirely.

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