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

Target Nest Egg$750,000
Years Until Retirement35 years
FIRE Number$1,200,000

✓ You are on track for retirement!

Your Current Situation

years
$
$
%

Retirement Goals

65 years
50 years80 years
90 years
70 years100 years
$

How much you'll spend per month

$

Monthly benefit at full retirement

Advanced Settings

2.5%
0%5%

Retirement Projection

Yellow line indicates retirement age. Projection shows savings growth and withdrawal phase.

Retirement Summary

35

Years to Retire

25

Years in Retirement

$12,000

Annual Savings

2.2%

Withdrawal Rate

Recommendations

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

Target Nest Egg$750,000
Years Until Retirement35 years
FIRE Number$1,200,000

✓ You are on track for retirement!

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.