Plan your retirement with confidence — free, accurate, and 100% private (all calculations run in your browser).
This calculator helps you plan the financial aspects of your retirement — where you stand today, how much to save, and what your withdrawals will look like.
Total amount needed at retirement age (in future dollars)
Enter your target retirement amount, and we'll tell you exactly how much you need to save annually and monthly to reach it.
Estimate the monthly and annual amount you can safely withdraw during retirement.
Estimate how many years your retirement savings will last at a given withdrawal rate.
Retirement is the withdrawal from active working life — and for most retirees, it lasts the rest of their lives. It marks a major life transition where you shift from earning a regular salary to living off your accumulated savings, investments, pensions, and government benefits.
Retirement typically occurs between the ages of 55 and 70, though the exact timing depends on many personal factors including health, financial readiness, career satisfaction, and family circumstances.
There are many factors that influence a person's decision to retire:
Some people choose to "semi-retire" by gradually reducing their work hours. Others retire and then rejoin the workforce later. The key is that retirement is a personal decision that should be made when you are both financially and emotionally ready.
This is one of the most common questions — and unfortunately, there is no single answer. The amount depends on your desired lifestyle, life expectancy, health, Social Security eligibility, and many other factors. However, there are some general rules of thumb:
Save 10–15% of your pre-tax income every year during your working years. For example, if you earn $50,000 a year, you'd save $5,000–$7,500 annually. Starting at age 25 and saving 10% consistently can help you build a $1 million nest egg by retirement age.
You'll likely need 70–80% of your pre-retirement income to maintain your standard of living. If you earned $100,000 during your working years, you'd need $70,000–$80,000 annually in retirement. This varies greatly depending on lifestyle — some retirees want to travel the world, while others prefer a simple, quiet life.
Withdraw no more than 4% of your retirement nest egg each year. If you need $100,000 annually, you'd need a nest egg of $100,000 ÷ 4% = $2.5 million. This rule is designed to make your savings last 30+ years.
Inflation is the general increase in prices and the fall in purchasing power of money over time. The average inflation rate in the US over the past 30 years has been around 2.6% per year — meaning the purchasing power of $1 today is less than 50 cents compared to 30 years ago!
Inflation is one of the main reasons people underestimate how much they need to save. A retirement income of $50,000 today might need to be $90,000+ in 20 years just to maintain the same lifestyle. That's why our calculator factors inflation into every projection.
Social Security is a government-run social insurance program that provides benefits to retired workers, people with disabilities, and survivors. In the US, workers who have contributed to FICA tax through payroll withholdings receive Social Security benefits during retirement.
Social Security was designed to replace about 40% of the average worker's income. However, roughly one-third of the working population and 50% of retirees expect Social Security to be their major income source after retirement.
| Annual Income | Estimated Monthly Social Security |
|---|---|
| $20,000 | ~$800 |
| $50,000 | ~$1,400 |
| $100,000 | ~$2,000 |
Notice that while higher earners receive more in benefits, the increase is not proportional — meaning lower-income earners get a higher percentage of their income replaced.
401(k), 403(b), 457 Plans: These are employer-sponsored retirement accounts. Many employers offer matching contributions — for example, matching up to 3% of your salary. Contributions are made with pre-tax dollars, and funds grow tax-free until withdrawal. Only 6% of companies that offer 401(k)s don't make some sort of employer contribution. It is generally recommended to contribute at least the maximum amount your employer will match.
Traditional IRA: Contributions are made with pre-tax dollars and grow tax-deferred. Withdrawals are taxed as ordinary income in retirement.
Roth IRA: Contributions are made with after-tax dollars. Withdrawals — including all investment gains — are completely tax-free in retirement. This makes Roth IRAs extremely powerful for long-term wealth building.
Pension Plans: Traditional pension plans are employer-managed retirement funds. Most public servants in the US are covered by pension programs rather than Social Security. Upon retirement, employees can receive fixed payouts or a lump sum.
Beyond tax-advantaged retirement accounts, you can also use regular investment accounts to grow your wealth. Common options include:
Annuities: A fixed sum of periodic cash flows typically distributed for the rest of your life. There are immediate annuities (payments start right away) and deferred annuities (payments start later).
Reverse Mortgages: For homeowners, a reverse mortgage allows you to convert your home equity into cash while still living in your home. However, ownership of the home transfers to the lender at the end.
Passive Income: Rental income, business income, stock dividends, and royalties can supplement your retirement income — especially useful if you've maxed out your tax-advantaged accounts.
Inheritance: A portion of assets given to heirs. Note that inheritances may be subject to federal or state estate/inheritance taxes.