Retirement Calculator
Plan your retirement with our comprehensive calculator. See if you're on track to meet your retirement goals and how much you need to save.
Retirement Projection
Projected Nest Egg
$2,192,672
at age 65
Monthly Income
$8,809
in retirement
✓ You are on track for retirement!
Your Current Situation
Enter your current age and savings
Retirement Goals
Set your retirement age and expected expenses
How much you'll spend per month
Advanced Settings
Adjust inflation rate assumptions
Retirement Projection
Visualize your savings growth over time
Yellow line indicates retirement age. Projection shows savings growth and withdrawal phase.
Retirement Summary
Key metrics at a glance
35
Years to Retire
25
Years in Retirement
$12,000
Annual Savings
2.2%
Withdrawal Rate
Recommendations
Personalized tips to reach your goals
Maximize Tax-Advantaged Accounts
Contribute to 401(k) up to employer match, then max out IRA ($7,000/year in 2024, $8,000 if 50+).
Review Asset Allocation
At age 30, consider 70% stocks and 30% bonds (age in bonds rule).
Retirement Projection
Projected Nest Egg
$2,192,672
at age 65
Monthly Income
$8,809
in retirement
✓ You are on track for retirement!
What if you saved more each month?
Projected Nest Egg
$2,192,672
Personalized Insights
2 insights based on your inputs
On Track for Retirement
Your projected nest egg exceeds your target by $1,442,672.
Time is on Your Side
With 35 years to go, consistent investing will compound significantly.
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Quick Answer
A retirement calculator helps you determine how much to save and when you can retire. Enter your age, savings, contributions, and expected retirement age at practicalwebtools.com. The 4% rule suggests you need 25x your annual expenses saved (1M for 40K/year spending). Most experts recommend saving 15% of income for retirement.
Key Facts
- The 4% rule: Withdraw 4% of savings annually for 30-year retirement
- Need approximately 25x annual expenses to retire (4% rule)
- Average retirement age: 64 (down from 67 historically)
- 15% savings rate recommended for retirement
- Social Security replaces about 40% of pre-retirement income for average earners
- Healthcare costs in retirement average $315,000 per couple (Fidelity)
- Only 39% of Americans have calculated retirement needs
Frequently Asked Questions
A common rule is the 4% rule: multiply your annual retirement expenses by 25 to get your target nest egg. For $50,000/year expenses, you need $1.25 million. This assumes a 4% safe withdrawal rate that historically sustained portfolios for 30+ years.
The 4% rule suggests withdrawing 4% of your portfolio in the first year of retirement, then adjusting for inflation each year. Based on historical data, this gives a high probability your money lasts 30+ years. Some suggest 3.5% for more safety.
Start as early as possible! Thanks to compound interest, $500/month from age 25 to 65 at 7% return yields $1.2 million. Starting at 35 yields only $567K. Every decade you wait roughly halves your final amount.
Aim for 15-20% of gross income for retirement. If your employer matches 401(k) contributions, that counts toward your goal. If starting late, you may need 25-30%. Use catch-up contributions after age 50.
Historical stock market returns average 10% before inflation, 7% after. A balanced portfolio (60% stocks, 40% bonds) might expect 6-7%. Be conservative in projections - using 6-7% accounts for fees and realistic returns.
Retirement Projection
Projected Nest Egg
$2,192,672
at age 65
Monthly Income
$8,809
in retirement
✓ You are on track for retirement!