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Retirement Calculator

Calculate how much you need to save for retirement, how long your savings will last, and how much you can withdraw each month during retirement.

Retirement Savings
Savings Plan
Withdrawal Plan
Savings Longevity
Basic Information
years
years
years
/year
Assumptions
%/year
% of current income
%/year
%/year
Optional
/month
$
How can you save for retirement?

This calculation presents potential savings plans based on desired savings at retirement.

years
years
$
$
%/year
How much can you withdraw after retirement?

This calculation estimates the amount a person can withdraw every month in retirement.

years
years
years
$
$
$
%/year
%
How long can your money last?

This calculator estimates how long your savings can last at a given withdrawal rate.

$
$/month
%/year

Retirement Savings Results

You will need $1,234,567 at retirement
Years until retirement: 32 years
Retirement duration: 18 years
Annual income needed (today's $): $52,500
Annual income needed (future $): $134,202
Monthly income needed: $11,184
Other income (monthly): $0
Required savings at retirement: $1,234,567
Current savings future value: $193,567
Additional savings needed: $1,041,000

Savings Plan Results

You need to save $1,234 per month
Years until retirement: 32 years
Future value of current savings: $193,567
Additional amount needed: $406,433
Monthly contribution needed: $1,234
Annual contribution needed: $14,808
Total contributions: $473,856
Total interest earned: $126,144

Withdrawal Plan Results

You can withdraw $2,345 per month
Years until retirement: 32 years
Retirement duration: 18 years
Savings at retirement: $1,234,567
Total contributions: $192,000
Total interest earned: $1,042,567
Monthly withdrawal amount: $2,345
Annual withdrawal amount: $28,140
Total withdrawals: $506,520
Remaining balance: $0

Savings Longevity Results

Your savings will last 15 years
Annual withdrawal amount: $60,000
Years until depletion: 15
Age when depleted: 82
Total withdrawals: $900,000
Total interest earned: $300,000

About Retirement Calculator

This retirement calculator helps you determine how much you need to save for retirement, how long your savings will last, and how much you can withdraw each month during retirement. It takes into account factors like your current age, retirement age, life expectancy, current savings, investment returns, and inflation.

How Retirement Savings Work

Retirement planning involves several key components:

  1. Current Savings: The amount you've already saved for retirement.
  2. Contributions: Regular additions to your retirement savings.
  3. Investment Growth: The return on your investments over time.
  4. Inflation: The decreasing purchasing power of money over time.
  5. Withdrawals: The amount you'll take out during retirement.

Key Retirement Concepts

Compound Interest: Your money grows exponentially as you earn returns on both your principal and accumulated interest.

4% Rule: A common guideline suggesting you can withdraw 4% of your retirement savings annually without running out of money.

Retirement Income Replacement Ratio: The percentage of your pre-retirement income you'll need to maintain your lifestyle in retirement (typically 70-90%).

Tips for Retirement Planning

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