Retirement readiness
Retirement Savings Calculator
Quick answer: This retirement savings calculator helps you estimate whether your current savings rate is enough to support your retirement income goal.
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The old rule of thumb that you can simply save 10% and be fine in retirement is often far too simplistic for real life. This retirement savings calculator helps answer the question am I saving enough for retirement by showing exactly where you are headed and what to change if the projection is not enough.
Explore this calculator further
Project your retirement balance and retirement income
Enter your current savings, contribution rate, employer match, and retirement-income target to estimate whether you are on track or heading toward a gap.
Section 1 — Your Situation
Section 2 — Retirement Needs
Savings growth curve
To close this gap, try one of these
- Save — more per month → reaches goal
- Retire — years later → reaches goal
- Reduce monthly need by — → reaches goal
The 4% rule — what it is and why it matters
The 4% rule is a common shortcut used in retirement planning. It estimates that a portfolio may be able to support first-year withdrawals of roughly 4% of the starting balance, which gives you a quick way to translate savings into an income estimate.
It matters because people often focus only on the account balance and forget to ask what that balance can realistically support each month. The rule is only a rough planning guide, not a promise, but it is useful for seeing whether savings and lifestyle expectations are in the same ballpark.
How monthly retirement savings can compound over 30 years
These example balances assume a 30-year saving window and a 7% annual return, which makes it easier to see how contribution size changes the end result.
| Monthly Contribution | Total Contributed | Projected Balance | Portfolio Income at 4% |
|---|---|---|---|
| $250 | $90,000 | $304,176 | $12,167/year |
| $500 | $180,000 | $608,353 | $24,334/year |
| $1,000 | $360,000 | $1,216,705 | $48,668/year |
| $1,500 | $540,000 | $1,825,058 | $73,002/year |
How much should I have saved by age?
| Age | Suggested savings benchmark |
|---|---|
| 30 | 1x salary |
| 40 | 3x salary |
| 50 | 6x salary |
| 60 | 8x salary |
| 67 | 10x salary |
This calculator is for educational purposes only and is not financial advice. Consult a licensed financial advisor for personalized retirement planning.
Frequently Asked Questions
It depends on the lifestyle you want, how long you expect retirement to last, Social Security, and any other income you will have. The key question is whether your savings can support your monthly spending needs after inflation.
It is a retirement planning rule of thumb that assumes a portfolio may support withdrawals of about 4% of the starting balance per year. It is useful for planning, but it is not a guarantee.
A common benchmark is around 1x salary by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67. These are reference points, not universal rules.
You still have options. Saving more, capturing the full employer match, delaying retirement, or lowering retirement-spending expectations can all improve the outlook.