Retirement Calculator
Project your nest egg, see what it is worth in today's dollars, and find out how much you need to save each month to hit your retirement income goal.
Last verified · Methodology
The 4% rule is the most widely used retirement withdrawal guideline: withdraw 4% of your portfolio in year one, then adjust for inflation each year. To find your target nest egg, multiply annual spending by 25. For account types, a Roth IRA grows tax-free (withdrawals not taxed), while a 401(k) grows tax-deferred (withdrawals taxed as ordinary income).
How to Use This Calculator
Enter Your Ages and Savings
Start with your current age, target retirement age, and what you have already saved in 401k, IRA, or other retirement accounts.
Set Your Contributions and Return
Enter your monthly contribution (include employer match) and your expected annual return. Most financial planners use 6-7% as a moderate stock-heavy portfolio assumption.
Check the Gap
Enter your desired monthly income in retirement. The calculator shows if you are on track and how much more you would need to contribute to close any gap.
Retirement Savings Benchmarks by Age
Fidelity guidelines. Multiplier of annual salary. On a $70,000 salary, multiply each row by $70,000.
| Age | Salary Multiplier | Target ($70k salary) | Target ($100k salary) |
|---|---|---|---|
| 30 | 1x | $70,000 | $100,000 |
| 40 | 3x | $210,000 | $300,000 |
| 50 | 6x | $420,000 | $600,000 |
| 60 | 8x | $560,000 | $800,000 |
| 67 | 10x | $700,000 | $1,000,000 |
The Power of Starting Early
Time is the biggest factor in retirement savings. Here is what happens when two people save $500 per month at 7% annual return, but one starts at age 25 and the other at age 35:
| Scenario | Years Saving | Total Contributed | Nest Egg at 65 |
|---|---|---|---|
| Started at age 25 | 40 | $240,000 | $1,312,000 |
| Started at age 35 | 30 | $180,000 | $612,000 |
Starting 10 years earlier with only $60,000 in extra contributions results in $700,000 more at retirement. That is compound interest doing the heavy lifting.
| Monthly Contribution | 10 Years | 20 Years | 30 Years |
|---|---|---|---|
| $500 | $87,000 | $261,000 | $567,000 |
| $1,000 | $174,000 | $522,000 | $1,135,000 |
| $1,500 | $261,000 | $783,000 | $1,702,000 |
| $2,000 | $348,000 | $1,044,000 | $2,270,000 |
| $2,500 | $435,000 | $1,305,000 | $2,837,000 |
| $3,000 | $521,000 | $1,565,000 | $3,404,000 |
A common rule is 25 times your annual expenses. If you expect to spend $60,000 per year in retirement, you need roughly $1.5 million saved. This pairs with the 4% rule, which says you can safely withdraw 4% of your nest egg each year without running out of money over a 30-year retirement.
The 4% rule is a retirement withdrawal guideline based on the Trinity Study. It says if you withdraw 4% of your starting nest egg in year one, then adjust that dollar amount for inflation each subsequent year, your money has a high probability of lasting 30+ years. On a $1 million nest egg, that is $40,000 per year or roughly $3,333 per month.
Fidelity's common benchmarks: 1x your annual salary by age 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67. On a $70,000 salary that means $70k at 30, $210k at 40, $420k at 50, $560k at 60, and $700k by full retirement age. These are guidelines, not hard rules, and your actual needs depend on your planned lifestyle.
Traditional IRAs give you a tax deduction now and tax the withdrawals in retirement. Roth IRAs tax you now but grow tax-free and are tax-free on withdrawal. If you expect your tax rate to be higher in retirement, choose Roth. If you expect it to be lower, choose Traditional. Many people contribute to both for tax diversification.
Social Security replaces roughly 40% of pre-retirement income for the average worker. You can check your expected benefit at ssa.gov. This calculator intentionally does not include Social Security because the amount and future reliability vary widely. Use the 'desired monthly income' as your target after Social Security, to see how much your own savings need to cover.
Just add your employer match to your monthly contribution. For example, if you contribute $500 and your employer matches up to 3% of a $6,000 monthly salary ($180/mo), enter $680 as your monthly contribution. The match is free money and significantly accelerates your timeline.
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