Retirement Calculator

How old are you, and when will you retire?

 I’m and plan to retire at age

What’s your current annual income?

$ per year

Expected annual income increase?

 %

How much do you save annually for retirement?

 % of your income = $

How much have you already saved for retirement?

$

Expected average annual rate of investment return?

 %

Expected inflation rate?

 %
Expected annual spending in retirement? (in today’s dollar)
 $

Retirement Calculator Instructions

To use this calculator effectively, please provide the following information:

1. Your current age and when you expect to retire: the retirement age has gradually changed over the years. You can also enter various retirement ages to see how it affects your retirement finance.

2. Expected income increase: this can be a subjective guess. Again, enter various numbers for different scenarios. In general, you can enter a historical inflation rate as most likely, your work compensation usually can keep up with the inflation.

3. Annual saving rate (%): Enter the annual saving rate. This is the percentage that you put aside from your income to a retirement plan account (such as a 401(k) account), an IRA, or just a brokerage or bank savings account. For retirement savings, it’s important to invest for the long term.

4. Your current savings ($): Enter the savings amount you have so far. Be sure to review your various savings accounts including 401(k) account(s).

5. Expected annual rate of investment return (%): In general, you can enter various numbers for multiple scenario analyses. Historically, stocks have averaged about 10% or so annual return (before inflation) and a balanced portfolio with stocks and bonds mix returns from 5% to 8%.

After filling in all the parameters, click the “Calculate” button to get the results that are shown in a chart. Clicking on Balances by Year will show year-by-year data.

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