How to use the Retirement calculator
- Enter your numbers. Fill in current age, retirement age, current retirement savings, monthly savings, yearly spending in retirement.
- Enter assumptions details. Fill in return before retirement, inflation, safe withdrawal rate.
- Read your results. Results update instantly. The headline shows the projected savings at 65; the breakdown and table below show the details.
How much do you need?
A common rule of thumb is the 4% rule: withdrawing about 4% of your savings in the first year (then adjusting for inflation) has historically lasted 30 years in most market conditions. So you need roughly 25 times the yearly spending your savings must cover (after Social Security and pensions).
The formula
Projected = savings grown monthly + monthly contributions
Closing a gap
- Increase contributions, especially to capture any 401(k) match.
- Work a few years longer: more contributions, more growth, fewer years to fund.
- Plan for lower spending or part-time income early in retirement.
Worked example
With these inputs: current age35; retirement age65; current retirement savings$60,000; monthly savings$1,000; yearly spending in retirement (today’s $)$60,000; return before retirement6.5%; inflation2.5%; safe withdrawal rate4%.
The calculator gives a projected savings at 65 of $1,525,686 (short by $1,620,665). Other results: amount you’ll need$3,146,351, yearly income it supports$61,027, savings in today’s dollars$727,360, years until retirement30.
What your results mean
The amount you’ll need is your desired annual spending, inflated to your retirement year, divided by your withdrawal rate. If your projected savings fall short, increase contributions, retire later or plan for lower spending.
Tips
- Subtract expected Social Security and pensions from your spending goal for a fairer target.
- A 4% withdrawal rate is a starting point; 3–3.5% is more conservative for early retirees.
- Capture any full employer 401(k) match first.
Frequently asked questions
How much do I need to retire?
A rule of thumb is about 25 times your expected annual spending (the 4% rule). This calculator adjusts that for inflation and your own withdrawal rate.
What is the 4% rule?
A guideline from historical studies: withdrawing 4% of your starting balance, adjusted for inflation each year, has lasted 30 years in most historical periods.
Is the 4% rule safe?
It’s a starting point from historical U.S. data. Some planners use 3.5% for early retirees or longer horizons.
Should I include Social Security?
Enter spending net of expected Social Security. Get your estimate at ssa.gov/myaccount.
Are taxes included?
No. Withdrawals from traditional accounts are taxable, so build that into spending.
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