Retirement Calculator - Calculate Retirement Savings & Goals
Free online retirement calculator to calculate retirement savings goals, monthly contributions, and retirement income. Plan your financial future with confidence.
Retirement Planning Details
Retirement Results
Enter retirement planning details to calculate savings goals
About Retirement Calculator
The Retirement Calculator helps you plan for retirement by calculating how much you need to save and what your retirement income will be.
Key Factors:
- Current Age: Your age now
- Retirement Age: When you plan to retire
- Current Savings: Money already saved
- Monthly Contributions: Regular savings amount
- Annual Return Rate: Expected investment growth
- Desired Monthly Income: Retirement income goal
- Life Expectancy: How long you expect to live
Retirement Planning Tips:
- Start saving early - compound interest is powerful
- Contribute to employer-sponsored plans (401k, 403b)
- Consider IRA contributions for tax advantages
- Diversify your investments
- Review and adjust your plan regularly
- Consider inflation in your calculations
Retirement Accounts:
- 401(k): Employer-sponsored retirement plan
- IRA: Individual Retirement Account
- Roth IRA: Tax-free retirement savings
- Pension: Employer-provided retirement benefit
- Social Security: Government retirement benefit
Applications:
- Retirement planning and goal setting
- Investment strategy development
- Financial advisor consultations
- Budget planning and allocation
- Life insurance and estate planning
Note: This calculator provides estimates based on fixed returns and contributions. Actual results may vary due to market fluctuations, inflation, and other factors.
Frequently Asked Questions
How much should I save for retirement?
A common rule is to save 10-15% of your income, but this depends on your age, income, and retirement goals. Use this calculator to determine your specific needs.
What's a good retirement age?
The traditional retirement age is 65, but many people retire earlier or later based on their financial situation, health, and personal preferences.
How do I calculate my retirement needs?
Consider your desired retirement income, expected expenses, inflation, and how long you'll need the money. This calculator helps estimate your savings requirements.
What's the 4% rule?
The 4% rule suggests you can withdraw 4% of your retirement savings annually without running out of money. This is a general guideline, not a guarantee.
Should I prioritize 401k or IRA?
If your employer offers a 401k match, contribute enough to get the full match first. Then consider IRA contributions for additional tax advantages.