Retirement Calculator

Current Age: Retirement Age: Current Savings ($): Monthly Contribution ($): Annual Return Rate (%): Withdrawal Rate in Retirement (%):

Savings at Retirement:

Estimated Annual Withdrawal:

Years Sustained in Retirement:

Quick Links:

• What is Annuity?
• Types of Annuities
• How the Annuity Calculator Works
• Fixed vs Variable Annuity
• Benefits of Using an Annuity Calculator
• Common Mistakes to Avoid

Understanding Your Retirement Plan

Planning for retirement is one of the most critical aspects of financial health. This tool helps you estimate how much you'll have saved by the time you retire and whether your savings will last throughout your golden years.

Key Concepts

• Current Age: Your age today.
• Retirement Age: The age at which you plan to stop working.
• Current Savings: How much you've already saved toward retirement.
• Monthly Contribution: How much you add each month to your retirement account.
• Return Rate: Expected average annual return on investments.
• Withdrawal Rate: Estimated percentage of savings withdrawn annually during retirement.

How This Calculator Works

This calculator uses a compound interest model to project how your savings grow until retirement. It then simulates withdrawals during retirement based on your withdrawal rate to determine how long your savings will last.

Real-Life Example

If you're currently 30, plan to retire at 65, have $50,000 saved, contribute $500 per month, and earn an average of 7% annually, this calculator will show you how much you’ll have at retirement — and how long it will last if you withdraw 4% per year.

Why Planning Matters

Many people underestimate how much they need to save for retirement. With increasing life expectancy and rising healthcare costs, having a clear plan ensures you don’t outlive your money.

Tips for Better Retirement Planning

• Increase contributions over time: As income grows, increase what you save.
• Adjust asset allocation: Shift from aggressive growth strategies to more conservative ones as retirement nears.
• Track progress regularly: Revisit your plan every few years to stay on course.
• Consider working longer: Delaying retirement even a few years can significantly boost savings and reduce how long you’ll need to fund after retirement.

Conclusion

Use this calculator to understand where you stand financially and whether adjustments are needed to reach your retirement goals. Regular planning and review are key to a comfortable and secure retirement.