Retirement Calculator
Plan your retirement and see if you're on track to meet your goals
Your Information
Enter your current financial details and retirement goals
30 years
1880
65 years
5090
$
$
7%
1%12%
2.5%
0%8%
$
%
Your Retirement Projection
Based on the information you provided
Projected Retirement Savings
$1,421,310
at age 65
Sustainable Annual Income
$56,852
using 4% rule
Years Until Retirement35 years
Annual Income Needed in Retirement$113,914
Projected Savings Will Last~16 years
Income Gap$57,061 per year
Action Needed
To close this gap, consider increasing your annual contribution to $15,505 per year (an additional $9,505 per year or $792 per month).
About Retirement Planning
Retirement planning is the process of determining retirement income goals, and the actions and decisions necessary to achieve those goals. It includes identifying sources of income, estimating expenses, implementing a savings program, and managing assets and risk.
Retirement Savings Tips
- Start saving as early as possible to take advantage of compound interest
- Maximize contributions to tax-advantaged accounts like 401(k)s and IRAs
- Consider diversifying your investments based on your risk tolerance and time horizon
- Regularly review and adjust your retirement plan as your circumstances change
- Consider working with a financial advisor for personalized guidance
Common Retirement Accounts
- 401(k) or 403(b): Employer-sponsored retirement plans
- Traditional IRA: Tax-deductible contributions with tax-deferred growth
- Roth IRA: After-tax contributions with tax-free growth and withdrawals
- SEP IRA or Solo 401(k): Retirement options for self-employed individuals
- Health Savings Account (HSA): Can be used as a retirement account for healthcare expenses