Retirement Calculator
Using your current age, income and retirement savings rate, this retirement calculator will show whether you're on track for the retirement you want.
Knowing where you stand is crucial. Use this tool to see how prepared you are for retirement, and what steps you may need to work on
Retirement details
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What you'll have
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This represents the estimated total amount of money that an individual would have accumulated by the time of their retirement.What you'll need
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This represents the estimated total amount of money that an individual would need to have accumulated by the time of their retirement to cover their expenses.Our free calculator estimates your retirement nest egg based on your current retirement savings strategies and then calculates how it would stretch over your retirement in today’s dollars, taking inflation into account.
How to fill out the advanced details
Retirement age: Enter the age you plan to retire. Age 67 is the full retirement age (when you get your full Social Security benefits) for people born in 1960 or later.
Life expectancy: This is how long you expect to live. You’ll want your retirement savings and income to last throughout your life, so it's a good idea to aim high here. We are using 95 as our default life expectancy, which is a conservative estimate that assumes a longer life span.
Inflation rate: We have assumed an inflation rate of 3%. You can adjust this to see how inflation could affect your retirement savings.
How we calculated your retirement results
To come up with our estimate of the total amount of savings you’ll have for retirement (“What you’ll have”), we start with your current age and how much you’ve saved so far. Using your income and savings contributions, we calculate how much more you’ll save between now and your projected retirement date. We take salary increases, compound interest and rates of return into account when arriving at the total number.
To calculate your target retirement savings total (“What you’ll need”), we use your life expectancy to determine how much you’ll need (taking inflation into account) to match your projected monthly budget in retirement and have it last from retirement through the remainder of your life.