A retirement calculator projects whether your savings will last through retirement. Enter your age, savings, contributions, and expected returns to see your projected retirement balance using the 4% safe withdrawal rule.
Retirement Calculator
Plan your retirement by estimating how much you need to save, how your investments will grow, and whether your nest egg will last through retirement.
Your Details
Savings
Retirement Income Plan
Savings Projection
Planning for Retirement
Retirement planning is the process of determining your retirement income goals and the actions and decisions necessary to achieve those goals. It includes identifying sources of income, estimating expenses, implementing a savings program, and managing assets and risk.
The 4% Rule
A widely cited guideline suggests you can withdraw 4% of your retirement portfolio in the first year, then adjust for inflation each subsequent year, with a high probability of your money lasting 30 years. For example, a $1,000,000 portfolio would support approximately $40,000/year in withdrawals.
Key Takeaways
- Starting early is the single most impactful decision. A 25-year-old saving $300/month will accumulate more than a 35-year-old saving $600/month by age 65.
- Inflation erodes purchasing power. A $60,000 lifestyle today will cost approximately $121,000 in 25 years at 3% inflation.
- Maximize tax-advantaged accounts first: 401(k) employer match, then Roth IRA, then additional 401(k) contributions, then taxable accounts.
- Healthcare costs in retirement are often underestimated. Fidelity estimates a 65-year-old couple will need approximately $315,000 for healthcare expenses in retirement.