Plan Your Future with Confidence: How to Use Our Retirement Calculator

Planning for retirement can feel overwhelming—but it doesn’t have to be. Our retirement calculator is designed to simplify the process by helping you project whether your current savings, income, and investment strategy are on track to support your ideal retirement lifestyle.

This guide walks you through each input field in the calculator and offers helpful tips to ensure your plan is grounded in reality and personalized to your goals.

How to Use the Retirement Calculator

At the top of this page, you’ll find a calculator that asks for a few key pieces of information. Here’s what each input means and how to fill it in:

1. Current Age

This is your age today. It serves as the starting point for all the future projections.

2. Annual Income

Enter your gross (pre-tax) income for the year. This helps the calculator suggest a reasonable savings rate and retirement goal based on your lifestyle today.

Tip: If your income varies, use an average of the last few years or your most recent stable year.

3. Age You’d Like to Retire

This is the age when you’d like to stop working full-time. The calculator uses this to determine how many years you have left to save and how long your retirement savings will need to last.

Tip: Consider your desired lifestyle, health outlook, and whether you want to fully retire or scale back to part-time.

4. Savings Per Month

How much do you currently save or invest toward retirement every month? This includes 401(k) contributions, IRAs, brokerage accounts, and other long-term savings.

Tip: Include both your contributions and any employer match if it goes directly into your retirement savings.

5. Retirement Spending Per Month

Estimate how much money you'll need each month in retirement. This should include housing, healthcare, food, travel, hobbies, and other lifestyle expenses.

Tip: Many people find they need 70–80% of their pre-retirement income, but that can vary widely. Be honest about the lifestyle you want.

6. Current Investment Savings

Enter your current total savings across retirement accounts (401(k), IRA, brokerage, etc.).

Tip: Don't include emergency funds or short-term savings here—only money intended for long-term retirement use.

7. Expected Rate of Return

This is your estimated average annual return on your retirement investments, before inflation. A typical assumption for a diversified portfolio is between 5–8%, depending on risk level.

Tip: Be conservative. It's better to be surprised on the upside than to come up short.

8. Expected Rate of Inflation

Inflation reduces your purchasing power over time. A typical long-term estimate is 2–3%, but it can vary.

Tip: If you want a more cautious projection, increase the inflation rate slightly to see how it affects your outcome.

📊 What You’ll Learn from the Results

Once you’ve entered your information, the calculator will show you:

• How much you’ll have saved by your target retirement age.
• Whether your projected savings can cover your monthly retirement spending.
• How long your savings might last in retirement.

You can then adjust the inputs—like saving more each month, retiring later, or reducing your expected spending—to explore different “what if” scenarios.

Smart Tips for Retirement Planning

• Start early, even small amounts add up. The earlier you start saving, the more compound growth works in your favor.
• Revisit your plan yearly. Life changes, and so should your plan. Use the calculator to check in regularly.
• Don’t forget healthcare. Medical expenses can be significant in retirement—factor that into your monthly retirement spending.
• Consider taxes. This calculator gives you a high-level projection, but taxes can affect your actual income in retirement.
• Balance growth with safety. As you get closer to retirement, it’s wise to reduce risk in your investment portfolio.

Ready to Take Action?

Our calculator is here to give you clarity, not just numbers. Whether you’re years away from retirement or already well into your savings journey, it can help you make informed decisions today that shape a better tomorrow.

Try adjusting your inputs to see what changes have the biggest impact—and use that insight to take control of your financial future.