Plan Your Retirement
Savings
See exactly how much you'll have at retirement, whether you're on track,
and what adjustments will get you there — all in seconds.
Estimates only — not financial advice. Results depend on market performance, inflation, and individual circumstances. Consult a certified financial planner (CFP) for personalised retirement planning.
“Note: This calculator provides estimated projections for educational and planning purposes only. It does not constitute official financial, tax, or investment advice. Always consult with a certified financial planner or advisor before making major retirement decisions.”
How to Use This Retirement Calculator
Enter your current age, current retirement savings, monthly contribution, expected annual return, planned retirement age, and desired monthly income in retirement. The calculator shows whether you are on track, how much you need to save, and your projected nest egg at retirement.
How Much Do You Need to Retire?
The most widely used rule is the 25x Rule: multiply your desired annual retirement income by 25. This is based on the 4% Safe Withdrawal Rate — the amount research suggests you can withdraw annually without running out of money over a 30-year retirement.
| Desired Monthly Income in Retirement | Annual Need | Retirement Nest Egg Required (25x) |
|---|---|---|
| $3,000/month | $36,000 | $900,000 |
| $4,000/month | $48,000 | $1,200,000 |
| $5,000/month | $60,000 | $1,500,000 |
| $6,000/month | $72,000 | $1,800,000 |
| $8,000/month | $96,000 | $2,400,000 |
| $10,000/month | $120,000 | $3,000,000 |
How Much to Save by Age – Retirement Benchmarks
| Age | Savings Target | Based On |
|---|---|---|
| 30 | 1x annual salary | Fidelity guideline |
| 35 | 2x annual salary | Fidelity guideline |
| 40 | 3x annual salary | Fidelity guideline |
| 45 | 4x annual salary | Fidelity guideline |
| 50 | 6x annual salary | Fidelity guideline |
| 55 | 7x annual salary | Fidelity guideline |
| 60 | 8x annual salary | Fidelity guideline |
| 67 (retire) | 10x annual salary | Fidelity guideline |
If your current savings lag behind these benchmarks, do not panic — increasing your contribution rate by even 1%–2% per year makes a dramatic difference over a long horizon.
Monthly Savings Needed to Reach $1,000,000 at 7% Return
| Starting Age | Years to Invest | Monthly Savings Needed | Total Contributed |
|---|---|---|---|
| 25 | 40 years | $381/month | $182,880 |
| 30 | 35 years | $545/month | $228,900 |
| 35 | 30 years | $787/month | $283,320 |
| 40 | 25 years | $1,159/month | $347,700 |
| 45 | 20 years | $1,747/month | $419,280 |
| 50 | 15 years | $2,772/month | $498,960 |
Starting at 25 requires saving less than half what a 40-year-old must save to reach the same goal — despite having the same total years until retirement. This is the compounding effect in action.
Retirement Account Contribution Limits
| Account | 2026 Limit | Catch-Up (Age 50+) | Tax Benefit |
|---|---|---|---|
| 401(k) / 403(b) | $23,500 | +$7,500 = $31,000 | Pre-tax or Roth |
| IRA (Traditional or Roth) | $7,000 | +$1,000 = $8,000 | Pre-tax or tax-free growth |
| SEP-IRA (self-employed) | $70,000 | No catch-up | Pre-tax |
| SIMPLE IRA | $16,500 | +$3,500 = $20,000 | Pre-tax |
| HSA (self-only plan) | $4,300 | +$1,000 age 55+ | Triple tax advantage |
Social Security – What to Expect
| Claim Age | Benefit vs Full Retirement Age | Example ($2,000 FRA benefit) |
|---|---|---|
| 62 (earliest) | -30% | $1,400/month |
| 64 | -20% | $1,600/month |
| 67 (full retirement age) | 100% | $2,000/month |
| 70 (maximum) | +24% | $2,480/month |
Delaying Social Security from 62 to 70 increases your monthly benefit by 76%. For someone in good health expecting to live past 80, waiting generally results in significantly more lifetime income.
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Frequently Asked Questions
Using the 25x rule: multiply your desired annual expenses in retirement by 25. Most financial planners suggest that $1M–$2M is sufficient for a comfortable retirement for a single person or couple living modestly. In high cost-of-living areas or with high lifestyle expectations, $3M+ may be needed. Don’t forget to factor in Social Security income, which reduces how much you need to self-fund.
The 4% rule (also called the Safe Withdrawal Rate) states that you can safely withdraw 4% of your retirement portfolio in Year 1, then adjust for inflation each year, with a high probability of not running out of money over a 30-year retirement. It was developed from the “Trinity Study” analyzing historical stock and bond market data. Critics note it may be too aggressive for 40+ year retirements.
No — it is never too late. At 50, you still have 15–17 years of compounding growth before typical retirement age, plus the IRS allows larger “catch-up” contributions ($31,000 in a 401(k) and $8,000 in an IRA for those 50+). Aggressively maximizing contributions, reducing lifestyle expenses, and delaying retirement by even 2–3 years can dramatically improve your outcome.
The key question is whether your tax rate will be higher now or in retirement. If you expect to be in a higher tax bracket in retirement, choose Roth (pay taxes now, withdraw tax-free later). If you’re in a high bracket now and expect to be lower in retirement, choose traditional (reduce taxes now, pay later). Many financial advisors recommend diversifying across both to hedge against future tax uncertainty.
Inflation erodes purchasing power over time. At 3% inflation, $1 today will only buy $0.55 worth of goods in 20 years. This means $5,000/month feels comfortable today but may feel like $2,750/month in 20 years. Your retirement plan should assume 2%–3% annual inflation and either invest in growth assets that outpace inflation or hold inflation-protected securities like TIPS and I-bonds.