Retirement
Retirement Savings Calculator
Am I on track? Estimate the nest egg you might need, what your savings could grow to, and how much more per month could help close a gap. All in today's dollars.
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How it's calculated
Nest egg needed = (Income wanted − Social Security) ÷ Withdrawal rate
Real return = (1 + return) ÷ (1 + inflation) − 1Savings grow at the real return, so every figure is in today's dollars.
Real return = (1 + return) ÷ (1 + inflation) − 1Savings grow at the real return, so every figure is in today's dollars.
Worked example
Wanting $70,000 a year with $26,000 from Social Security leaves $44,000 to cover. At a 4% withdrawal rate: $44,000 ÷ 0.04 = $1,100,000.
How this works
- Your goal: the income you'd like, minus expected Social Security, is the part your savings would need to cover each year.
- Nest egg needed: that yearly amount divided by your withdrawal rate. At 4%, every $1,000 a year of income takes about $25,000 saved.
- Projection: your savings and monthly deposits grow at each return you choose, minus inflation, so every number is in today's dollars.
What it leaves out
Taxes on withdrawals, pensions, investment fees, changing returns year to year, health-care costs, and how long retirement lasts. A shortfall here isn't a verdict, just a reason to look closer.
Hypothetical illustration for education only, not investment, tax or retirement advice. Returns are assumptions, not predictions, and actual results will vary. Consider talking with a qualified professional about your own plan.