Determine how much you need to save for retirement and estimate your monthly income. Plan your savings strategy with projected growth and withdrawal rates.
Are you on track for the retirement you want? This comprehensive calculator combines your 401(k), IRA, Social Security, and other savings to project your retirement income. It accounts for inflation, withdrawal rates, and life expectancy to give you an honest assessment of your retirement readiness.
This retirement savings calculator helps you determine whether your current savings trajectory will support your desired retirement lifestyle. It calculates how much you need to accumulate by retirement age based on your expected monthly income needs, then works backward to show if your current savings rate is on track. The calculator applies the time-tested 4% withdrawal rule, which research suggests can provide a 30-year retirement without depleting assets, adjusting the withdrawal rate based on your input. You can model different scenarios by changing contribution amounts, investment returns, retirement age, and withdrawal rates to see how adjustments affect your outcome. Understanding whether you are saving enough early in your career provides crucial time to make course corrections before retirement approaches.
Result: With $50,000 saved at 35, contributing $1,000/month at 7% returns until 65, you would have approximately $1,850,000. Using the 4% rule, this provides $74,000/year in retirement income — about $6,200/month before taxes.
The 4% safe withdrawal rule is the standard retirement planning guideline: you can withdraw 4% of your retirement portfolio in the first year, adjusted for inflation each subsequent year, with a high probability of not running out of money over a 30-year retirement. To generate $60,000 per year, you need approximately $1.5 million saved.
Social Security replaces approximately 40% of pre-retirement income for average earners, but the replacement rate is lower for high earners and higher for low earners. The full retirement age for those born after 1960 is 67. Claiming at 62 reduces benefits by about 30% compared to waiting until full retirement age.
Healthcare costs in retirement are often underestimated. A 65-year-old couple retiring in 2026 can expect to spend approximately $315,000 on healthcare throughout retirement, not including long-term care. Medicare premiums, deductibles, and out-of-pocket costs consume a significant portion of retirement income.
Be the first to know when 2026 tax brackets, mortgage rates, and insurance data change. Plus, get our free Tax Season Checklist PDF.
No spam, ever. Unsubscribe at any time.
Add Retirement Savings Calculator to your blog or website — free, no account needed
<div class="calchubb-embed" data-calc="retirement-savings" data-height="500"></div>
<script src="https://calchubb.com/embed.js"></script>Estimate your 401(k) balance at retirement with employer matching contributions. See how your savings, match, and compound growth build over time.
Find out how soon you can retire early using the FIRE method. Calculate your target retirement number and track progress toward financial independence.
Estimate your Social Security benefits based on claiming age. Compare how delaying benefits from age 62 to 70 impacts your monthly and lifetime payouts.
Results are estimates only and not financial advice. Calculator logic verified by Robert Williams, CFP®. Full disclaimer · Methodology