Retirement Planning Calculator
Calculate how much you need to retire comfortably. Plan your future with our comprehensive retirement planning calculator.
Retirement Planning Calculator
Plan your retirement savings and calculate how much you need to save to reach your retirement goals.
How to Use the Retirement Planning Calculator
Our retirement planning calculator helps you determine how much you need to save for a comfortable retirement. Here's how to use it effectively:
Step 1: Enter Your Current Information
- Current Age: Your age today
- Current Savings: Total retirement savings you have now
- Current Income: Your annual income before taxes
Step 2: Set Your Retirement Goals
- Retirement Age: When you plan to retire
- Income Replacement: Percentage of current income needed in retirement (typically 70-90%)
- Monthly Contribution: How much you can save each month
Step 3: Investment Assumptions
- Expected Return: Annual investment return (historically 6-8% for diversified portfolios)
- Inflation Rate: Expected inflation rate (typically 2-4%)
Retirement Planning Strategies
Early Career (20s-30s)
- Start saving early to benefit from compound interest
- Contribute to employer 401(k) match programs
- Consider Roth IRA for tax-free growth
- Focus on growth investments
Mid Career (40s-50s)
- Maximize retirement contributions
- Catch-up contributions if over 50
- Diversify investment portfolio
- Consider long-term care insurance