Retirement Calculator

Retirement Calculator

Calculate retirement savings and income

About Retirement Calculator

Our comprehensive retirement calculator helps you plan for your financial future by projecting your retirement savings and monthly income. Whether you're just starting to save or approaching retirement age, this tool provides valuable insights to help you achieve your retirement goals.

What It Calculates

  • Total Retirement Savings: Projected nest egg at retirement age
  • Years to Retirement: Time remaining until your target retirement
  • Monthly Income: Estimated monthly income during retirement
  • Savings Growth: How your money grows over time
  • Personalized Recommendations: Tips to improve your retirement outlook

Retirement Planning Components

Current Financial Status
  • Current age and retirement target
  • Existing retirement savings
  • Monthly contribution amount
  • Expected investment returns
  • Risk tolerance assessment
Future Projections
  • Compound growth calculations
  • Inflation considerations
  • Withdrawal rate strategies
  • Life expectancy planning
  • Healthcare cost estimates

How to Use

Enter your current age, target retirement age, existing savings, monthly contribution amount, and expected annual return rate. The calculator will project your retirement savings and provide personalized recommendations to help you reach your retirement goals.

Understanding Your Results

Total Savings

Your projected retirement nest egg

Monthly Income

Estimated monthly retirement income

Years to Go

Time remaining until retirement

Retirement Planning Strategies

  • Start Early: Time is your greatest ally in retirement planning
  • Increase Contributions: Boost savings as your income grows
  • Diversify Investments: Spread risk across different asset classes
  • Consider Tax Advantages: Maximize 401(k), IRA, and other tax-deferred accounts
  • Plan for Healthcare: Account for medical expenses in retirement
  • Review Regularly: Adjust your plan as circumstances change

Common Retirement Accounts

401(k): Employer-sponsored retirement plan with potential matching

Traditional IRA: Tax-deferred individual retirement account

Roth IRA: Tax-free withdrawals in retirement

SEP IRA: Simplified employee pension for self-employed

403(b): Retirement plan for non-profit employees

Annuities: Insurance products providing guaranteed income

Retirement Income Sources

  • Social Security: Government retirement benefits
  • Personal Savings: 401(k), IRA, and other investments
  • Pension Plans: Employer-provided retirement income
  • Part-time Work: Continued employment during retirement
  • Real Estate: Rental income or reverse mortgages
  • Business Ownership: Selling or continuing business operations
Pro Tip

The earlier you start saving for retirement, the more time compound interest has to work in your favor. Even small monthly contributions can grow into substantial sums over decades. Consider increasing your contribution rate by 1% each year to gradually build your retirement savings without feeling the pinch.