Retirement Savings CalculatorRetirement Savings Calculator

RETIREMENT SAVINGS CALCULATOR



This calculator will guide you through the process of estimating:
  • Your annual retirement income.
  • The total savings you'll need at retirement.
  • The value of your current savings at retirement based on your assumptions.
  • If you'll need additional savings to meet your retirement income goal.

Current salary:
Enter your current annual salary.
 $
(Example: 75,000)
Annual inflation rate:
Enter an estimated annual inflation rate (as a percentage). We will use this to estimate the value of your salary at retirement. (During the 1990s, the annual inflation rate has ranged between 3 and 4 percent.)
 %
(Example: 4)
Years to retirement:
Enter the number of years until you retire.

(Example: 15)
Replacement income:
Enter the percentage of your current income that you'll need when you retire. Averages show most people need 70% of current income levels when retired, because they have fewer personal expenses like college tuition or mortgage payments, and job-related expenses like commuting or business clothing. You can input whatever percentage you feel is appropriate.
%
(Example: 70)
Marital status:
Select your current marital status. Social Security payments depend on whether you're married or single.
 Married
Single
Include Social Security payments?:
This option determines whether you would like the calculator to include any social security benefits.
 Yes
No
Pension income:
Enter your expected annual pension income (in today's dollars). If you are unsure of this amount, you may wish to contact your benefits administrator for specifics.
$
(Example: 26,250)
Current savings:
Enter the amount you now have saved for retirement (such as annuities, mutual funds, IRAs, individual stocks, bonds, etc.).
 $
(Example: 50,000)
After-tax rate of return (before retirement):
Enter the after-tax rate of return you expect from now until your retirement. (Maximum value is 12 percent.)
 %
(Example: 6)
After-tax rate of return (after retirement):
Enter the rate of return you expect to see on your investments after retirement. (Most people invest more conservatively after retirement, so this rate might be lower than the one above. Maximum value is 12 percent.)
%
(Example: 6)