Retirement Savings Calculator

Find out how much you need to retire and whether you're on track

Your Details

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Your Projections

Projected Savings at Retirement
$0
Total Needed (4% Rule) $0
Gap / Surplus $0
Years Money Will Last 0
Total Contributions $0
Total Interest Earned $0
Real Return (after inflation) 0%

Savings Growth & Drawdown Projection

Savings Balance
Drawdown Phase

Scenario Comparison

Optimistic

8% annual return

$0

Money lasts: —

Gap/Surplus: —

Moderate

6% annual return

$0

Money lasts: —

Gap/Surplus: —

Conservative

4% annual return

$0

Money lasts: —

Gap/Surplus: —

Estimated Social Security Benefit

Rough estimate based on your current income. Actual benefits depend on your full earnings history.

Est. Monthly Benefit (at 67) $0
Est. Annual Benefit $0
Income Replaced by SS 0%
Savings Needed After SS $0

Retirement Planning Tips

Catch-Up Contributions

  • At age 50+, you can contribute an extra $7,500/year to your 401(k) beyond the $23,000 base limit
  • IRA catch-up allows an extra $1,000/year over the $7,000 base
  • SECURE 2.0 allows workers aged 60-63 to contribute up to $10,000 extra to a 401(k) starting in 2025
  • Maxing out catch-up contributions for 15 years can add $100,000+ to your retirement savings
  • Consider contributing to an HSA as a supplementary retirement account if eligible

Asset Allocation by Age

  • 20s–30s: 80–90% stocks, 10–20% bonds. Time is your greatest asset — tolerate volatility for higher returns
  • 40s: 70–80% stocks, 20–30% bonds. Begin shifting toward stability while maintaining growth
  • 50s: 60–70% stocks, 30–40% bonds. Protect accumulated wealth as retirement nears
  • 60s+: 40–60% stocks, 40–60% bonds. Focus on income and capital preservation, but maintain some growth to combat inflation
  • Target-date funds automate this "glide path" for you if you prefer a hands-off approach

How Much Do I Need to Retire?

Determining how much you need to retire depends on several factors: your desired retirement lifestyle, expected retirement age, healthcare costs, and how long your money needs to last. The most widely used guideline is the 4% rule, which suggests you can safely withdraw 4% of your portfolio each year in retirement. This means you need roughly 25 times your annual retirement spending saved up.

For example, if you want $60,000 per year in retirement (in today's dollars), you'd need approximately $1.5 million saved. Our retirement savings calculator helps you determine exactly where you stand and what adjustments you might need to make to reach your goal.

Understanding the Retirement Savings Gap

The retirement savings gap is the difference between what you're projected to have at retirement and what you actually need. A positive number (surplus) means you're on track or ahead — a negative number (gap) signals you need to take action.

If you have a gap, here are the primary levers you can pull:

  • Increase monthly contributions: Even an extra $100/month over 30 years at 7% return adds over $120,000
  • Delay retirement: Working just 2-3 extra years lets your savings grow while reducing the number of retirement years to fund
  • Reduce desired retirement income: Downsizing, relocating to a lower-cost area, or adjusting lifestyle expectations can significantly lower your target
  • Optimize investment returns: Ensure you're properly diversified and not paying excessive fees — even 0.5% in unnecessary fees can cost you hundreds of thousands over a career

How Inflation Impacts Your Retirement

Inflation is the silent threat to every retirement plan. At a 3% average inflation rate, the purchasing power of a dollar is cut in half roughly every 24 years. This means that the $5,000/month retirement income you plan for today would require over $12,000/month in 30 years to maintain the same standard of living.

This calculator uses your specified inflation rate to show projections in today's dollars, giving you a realistic picture of how much purchasing power your savings will actually provide. It's one of the most important inputs in any retirement planning calculator.

The Power of Starting Early

Compound interest rewards early savers disproportionately. Someone who starts saving $500/month at age 25 will have significantly more at 65 than someone who starts saving $1,000/month at 35, even though the late starter contributes more total money. This is because the early saver's contributions have decades more time to compound and grow.

If you feel behind, don't be discouraged. The second best time to start is today. Use our calculator to see how different contribution levels can change your trajectory, and take advantage of catch-up contributions once you're eligible at age 50.

Frequently Asked Questions

A common rule of thumb is the 4% rule: you need 25 times your desired annual retirement spending saved. For example, if you want $60,000 per year in retirement, you need approximately $1.5 million. However, the exact amount depends on your expected retirement age, lifestyle, healthcare costs, Social Security benefits, and investment returns.
The 4% rule states that you can withdraw 4% of your retirement portfolio in the first year, then adjust for inflation each subsequent year, and your savings should last at least 30 years. It was derived from the Trinity Study. So if you have $1 million saved, you could withdraw $40,000 in year one. While widely used as a guideline, some financial planners suggest a more conservative 3–3.5% rate given current market conditions.
Financial advisors commonly recommend saving 15–20% of your gross income for retirement, including any employer match. If you start in your 20s, 15% is often sufficient. Starting later requires higher percentages: in your 30s aim for 20–25%, and in your 40s you may need 30% or more. Use this calculator to find the exact monthly contribution needed based on your specific situation.
Historically, a diversified stock portfolio has returned about 7–10% annually before inflation (roughly 5–7% after inflation). For conservative planning, many advisors use 6% nominal return. A balanced stock/bond portfolio might return 5–7%. This calculator lets you compare optimistic (8%), moderate (6%), and conservative (4%) scenarios so you can plan for multiple outcomes.
Yes, inflation is critical to retirement planning. At 3% annual inflation, $1 today will only be worth about $0.41 in 30 years. This means if you need $60,000/year in today's dollars, you'll actually need roughly $146,000/year in 30 years. This calculator adjusts for inflation so your projections reflect real purchasing power, giving you a more accurate picture of your retirement readiness.
Social Security can cover a portion of your retirement income, reducing how much you need from personal savings. The average Social Security benefit is about $1,907/month ($22,884/year). Higher earners may receive up to $4,873/month at full retirement age. However, financial planners recommend not relying too heavily on Social Security alone, as benefits may be adjusted in the future and typically replace only 30–40% of pre-retirement income.
Catch-up contributions are additional amounts that workers aged 50 and older can contribute to retirement accounts beyond the standard limits. The catch-up contribution limit is $7,500 for 401(k) plans (on top of the $23,000 base limit) and $1,000 for IRAs (on top of the $7,000 base limit). Starting in 2025, workers aged 60–63 can make even larger catch-up contributions of $10,000 to 401(k) plans under SECURE 2.0.
Common retirement savings benchmarks by age: by 30 have 1x your salary saved, by 40 have 3x, by 50 have 6x, by 60 have 8x, and by 67 have 10x your salary saved. These are guidelines from Fidelity Investments. Use this calculator to get a personalized projection based on your actual savings, contributions, and expected returns. The calculator will show whether you have a surplus or gap relative to your retirement income goal.
Nominal returns are your investment gains before accounting for inflation (e.g., 8% market return). Real returns subtract inflation to show your actual purchasing power growth (e.g., 8% nominal minus 3% inflation = roughly 5% real return). For retirement planning, using real returns gives you a more accurate picture since your future expenses will also increase with inflation. This calculator handles this by letting you set both the expected return rate and inflation rate separately.

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