Retirement Planning Calculator

Last reviewed on October 1, 2026.

Plan your path to retirement with confidence. This comprehensive calculator helps you determine how much you need to save, when you can retire, and what your retirement income will look like. Includes Social Security, inflation, and tax considerations. Everything is calculated in your browser; nothing you enter is sent to us.

Current Situation

Plan past the average - many planners use 90 to 95

Current Retirement Savings

Include any employer match

Retirement Goals

80% A common rule of thumb is 70-90% of pre-retirement income
Long-run U.S. average: about 3%
Before inflation. Diversified portfolios: 5-8% is a common planning range

Social Security Benefits

Find your estimate at ssa.gov/myaccount. Assumed to start when you retire.

Retirement Planning Tips

  • Start saving early to maximize compound interest
  • Take full advantage of employer 401(k) matching
  • Consider Roth vs Traditional retirement accounts
  • Diversify investments across asset classes
  • Plan for healthcare costs in retirement
  • Review and adjust your plan annually
  • Consider working a few extra years for significant impact

Asset Allocation

70%
25%
5%

Age-based rule of thumb: 110 - age = stock %

Your mix sets the assumed volatility in the simulation. The average return comes from the Basic tab.

Taxes in Retirement

Your average (effective) rate, not your top bracket

Applied to every withdrawal, as if all savings were in pre-tax 401(k)/IRA accounts. Roth withdrawals are generally tax-free, so this errs on the cautious side.

Healthcare Planning

Only costs not already covered by your income goal, in today's dollars
Annual premium or set-aside, today's dollars

Risk Analysis

Each simulation runs year by year from today through your life expectancy, so the order of good and bad market years (sequence-of-returns risk) is built in.

Financial Independence, Retire Early (FIRE) Calculator

FIRE Goals

Uses your current age from the Basic tab

Current Finances

Auto-calculated from income/expenses

FIRE Strategy

4% rule is traditional, 3.5% is conservative

FIRE Movement Resources

  • Lean FIRE: Retire with minimal expenses ($40k/year or less)
  • Regular FIRE: Comfortable retirement ($40-100k/year)
  • Fat FIRE: Luxurious retirement ($100k+/year)
  • Barista FIRE: Part-time work for benefits
  • Coast FIRE: Save enough early, then coast

The 4% Rule: Withdraw 4% of portfolio annually, adjusted for inflation

Rule of 25: Need 25x annual expenses to retire

Retirement Planning Guide

The Power of Starting Early

Starting to save for retirement in your 20s versus your 30s can mean hundreds of thousands of dollars of difference due to compound growth. At a 7% average annual return, a 25-year-old saving $500/month would have about $1.24 million by 65, while someone starting at 35 would have about $585,000: less than half, despite contributing only 25% less.

Understanding the 4% Rule

The 4% withdrawal rule suggests you can safely withdraw 4% of your retirement portfolio in the first year, then adjust for inflation annually, with a high probability of not running out of money over 30 years. For a $1 million portfolio, that's $40,000 in year one.

Social Security Strategy

Delaying Social Security from 62 to 70 increases benefits by 77%. For someone with a $2,000/month benefit at full retirement age (67), waiting until 70 would increase it to $2,480/month for life.

Healthcare in Retirement

Healthcare is one of the biggest retirement costs. Fidelity's 2025 estimate put lifetime healthcare spending for a 65-year-old retiring that year at about $172,500 per person (roughly $345,000 for a couple), not including long-term care.

Retirement Account Types

Common Retirement Planning Mistakes

  1. Underestimating longevity: Plan for 90-95, not average life expectancy
  2. Ignoring inflation: $100k today = $180k in 20 years at 3% inflation
  3. Not diversifying: Don't put all eggs in one basket (company stock)
  4. Withdrawing too early: 401(k) and IRA withdrawals before 59½ generally incur a 10% penalty on top of income tax (some exceptions apply)
  5. Forgetting healthcare: Gap between retirement and Medicare at 65
  6. No estate plan: Ensure beneficiaries are updated

Frequently Asked Questions

How does this retirement calculator work?

The Basic tab grows your current savings and monthly contributions at your expected return, then compares the result with a target of 25 times the yearly income your savings must provide (your income goal minus Social Security, raised for inflation). It also estimates how long the money would last if you withdraw that income each year. The Advanced tab runs thousands of simulations with random market returns to estimate the odds your money lasts through your life expectancy. The FIRE tab estimates when you could reach financial independence.

Why are the results shown in future dollars and today's dollars?

Prices rise over time, so $1 million in 35 years will buy much less than $1 million today. At 3% inflation, prices roughly double about every 23 years. The calculator shows big balances in future dollars (what your statement will say) and converts income to today's dollars so you can compare it with your current lifestyle.

How much do I need to retire?

A common rule of thumb is 25 times your annual expenses (the 4% rule inverse). If you need $60,000/year in retirement, aim for $1.5 million. However, this varies based on lifestyle, location, health, and other income sources like Social Security.

Should I prioritize 401(k) or paying off debt?

Always contribute enough to get full employer matching (free money!). Then, pay off high-interest debt (credit cards). For low-interest debt (mortgage), consider doing both simultaneously since investment returns may exceed debt interest rates.

Roth or Traditional retirement accounts?

Choose Roth if you expect to be in a higher tax bracket in retirement or are young with decades of tax-free growth ahead. Choose Traditional if you're in a high tax bracket now and expect lower taxes in retirement. Many people benefit from having both.

What if I'm starting late?

It's never too late! Maximize catch-up contributions (an extra $8,000 in a 401(k) at 50+ in 2026), consider working a few extra years, reduce expenses, downsize housing, or plan for part-time work in early retirement. Even small changes make a big difference.