Retirement Planner
Calculate how much you need to save for retirement and track your progress toward your goal.
Your Information
Age & Timeline
Current Age
years
Target Retirement Age
years
Life Expectancy
years
Plan for at least 25-30 years in retirement
Current Savings
Current Retirement Savings
$
401(k), IRA, and other retirement accounts
Monthly Contribution
$/mo
Retirement Goals
Desired Annual Retirement Income
$/yr
Typically 70-80% of pre-retirement income
Expected Social Security (Annual)
$/yr
Check ssa.gov for your estimate
Assumptions
Expected Annual Return (Pre-Retirement)
%
Expected Annual Return (During Retirement)
%
Expected Inflation Rate
%
Retirement Projection
$0
Projected Nest Egg at Retirement
Based on your current savings plan
On Track ✓
Years to Retirement
0
Years in Retirement
0
Target Nest Egg
$0
Shortfall/Surplus
$0
Progress Toward Goal
$0
$1,000,000
Projected Savings Growth
Now
Retirement
Projected Savings
Target Goal
Nest Egg Composition at Retirement
$0
Total
Contributions: $0
Investment Growth: $0
Current Savings: $0
Retirement Income Breakdown
Annual Withdrawal (4% Rule)
Sustainable withdrawal from your nest egg
$0
Social Security
Estimated annual benefit
$0
Total Annual Income
Combined retirement income
$0
Income Goal
Your target annual income
$0
💡 Recommendation
How Much Do You Need to Retire?
A common rule of thumb is the “4% Rule” – you can safely withdraw 4% of your nest egg annually without running out of money over a 30-year retirement.
Target Nest Egg = (Annual Income Need – Social Security) × 25
Example: ($60,000 – $20,000) × 25 = $1,000,000
Example: ($60,000 – $20,000) × 25 = $1,000,000
This means if you need $40,000/year from savings, you should aim for $1 million by retirement.
Retirement Savings by Age
Fidelity recommends these savings milestones based on your salary:
Age
Target Savings
If earning $75K
30
1x salary
$75,000
40
3x salary
$225,000
50
6x salary
$450,000
60
8x salary
$600,000
67
10x salary
$750,000
Maximizing Your Retirement Savings
- Max out employer match: This is free money. If your employer matches 50% up to 6%, contribute at least 6%.
- Increase contributions annually: Boost by 1% each year, especially after raises.
- Use tax-advantaged accounts: 401(k), IRA, and HSA all offer tax benefits.
- Consider Roth options: Pay taxes now for tax-free withdrawals in retirement.
- Avoid early withdrawals: Penalties and lost growth can significantly impact your nest egg.
Important Considerations
- Healthcare costs: Medicare doesn’t cover everything. Budget $300K+ for healthcare in retirement.
- Inflation impact: $60K today will have less purchasing power in 30 years.
- Sequence of returns risk: Market downturns early in retirement can significantly impact your portfolio.
- Social Security uncertainty: Benefits may be reduced in the future. Don’t over-rely on them.
- Longevity risk: Plan for a longer retirement than you expect. Running out of money is a real risk.