Calculate how much you need to retire and the monthly contribution to get there using 2026 limits. Project savings across 401k, IRA, and pension to spot a shortfall.
| Key Results | Value |
|---|---|
| Years to retirement | 0 |
| Years in retirement | 0 |
| Income needed at retirement (annual) | $0 |
| Other income at retirement (annual) | $0 |
| Net needed from savings (annual) | $0 |
The most important financial question most Americans will ever answer isn't "how much house can I afford?" or "should I lease or buy?" — it's "how much do I need to retire?" And the most dangerous mistake is not asking it until it's too late to do much about it. This free retirement calculator helps you answer it now, whether you're 25 and just starting, 45 and playing catch-up, or 60 and doing final calculations. Enter your current savings, annual contributions, expected return rate, and target retirement age to see exactly where you're headed — and what changes would put you on a better track.
The most widely used retirement savings benchmark is the 25× rule — save 25 times your expected annual retirement expenses. This comes from the 4% safe withdrawal rate research (the Trinity Study), which found that withdrawing 4% of a portfolio annually (adjusted for inflation) had a very high probability of lasting 30+ years across historical market conditions. If you need $60,000/year to live in retirement, you need approximately $1,500,000 in savings. If you need $80,000/year: $2,000,000. $40,000/year: $1,000,000.
Remember that Social Security will likely cover part of your retirement income. The Social Security Administration provides personalised benefit estimates at SSA.gov/myaccount. Our calculator lets you input your expected Social Security benefit to see the gap your savings need to cover.
A 401(k) is an employer-sponsored retirement account that allows pre-tax contributions, reducing your taxable income today while growing tax-deferred until withdrawal. The 2025 contribution limit is $23,500 ($31,000 if age 50 or older). Employer matching — essentially free money — is the highest-return investment available to any employee. Always contribute at least enough to capture the full employer match before investing elsewhere. The IRS maintains 401(k) contribution rules at IRS.gov.
Example: Starting at 30 with $0, contributing $500/month (you) + $250/month (employer match) at 8% average return for 35 years → approximately $1,376,000 at age 65. Adding catch-up contributions from age 50 increases this substantially. Use our 401K Calculator for detailed 401(k) projections.
Dave Ramsey's retirement approach uses his "Baby Steps" framework: eliminate all debt first, build a 3–6 month emergency fund, then invest 15% of gross household income into tax-advantaged accounts (Roth IRA first to the limit, then traditional 401k). His investment examples often use 10%–12% average annual return (S&P 500 historical average). His famous illustration: investing $100/month from age 25 to 65 at 12% = approximately $1.17 million. Critics note 12% is the historical nominal average — inflation-adjusted and after fees, 6%–7% is more conservative and appropriate for planning. The core message — start early, invest consistently, use tax-advantaged accounts — is sound regardless of the assumed return rate.
FIRE (Financial Independence, Retire Early) is a movement built around aggressively saving and investing to achieve financial independence well before traditional retirement age. The math is the same 4% rule applied to a lower retirement age — but the challenge is that a 40-year retirement requires a more conservative withdrawal rate (many FIRE advocates use 3%–3.5%) and a larger savings buffer. The "leanFIRE" approach targets $1,000,000–$1,500,000 with frugal spending; "fatFIRE" targets $3,000,000+ for more comfortable living. The key variable is your savings rate — those saving 50%+ of income can realistically reach financial independence in 10–17 years from scratch, regardless of income level. Use our Retirement Calculator with a target retirement age to model your FIRE number.
Federal employees covered by FERS (Federal Employees Retirement System) receive a defined benefit pension, Social Security benefits, and the Thrift Savings Plan (TSP). The FERS pension formula: 1% × years of service × "High-3" average salary (or 1.1% if retiring at 62+ with 20+ years). A federal employee with 30 years of service and a $90,000 High-3 average receives: 1% × 30 × $90,000 = $27,000/year pension + Social Security + TSP savings. The Office of Personnel Management (OPM) provides official FERS calculators and guidance.
The US military offers several retirement systems depending on when you entered service. Under the Legacy High-3 system (entered service before 2018): 2.5% × years of service × average of highest 36 months' base pay. After 20 years: 50% of High-3 average pay. After 30 years: 75%. Under the Blended Retirement System (BRS) (entered service after January 1, 2018): reduced defined benefit (2% × years × High-3) plus TSP contributions with government matching up to 5%. Military retirement pay charts and calculators are available at militarypay.defense.gov.
The Thrift Savings Plan (TSP) is the federal government's equivalent of a 401(k), available to federal civilian employees and military members. The 2025 contribution limit is $23,500 (same as 401k), with $31,000 allowed for those 50+. TSP offers both traditional (pre-tax) and Roth options, and five core investment funds: G Fund (government securities), F Fund (fixed income), C Fund (large-cap stocks, tracks S&P 500), S Fund (small/mid-cap), and I Fund (international). Long-term growth investors typically favour C and S Fund heavy allocations. The TSP official site at TSP.gov provides account management and calculators.
The retirement withdrawal calculator answers the critical question: if I start withdrawing from my portfolio, how long until it runs out? Key variables: portfolio balance, annual withdrawal amount, expected return rate, and inflation rate. Using the 4% rule: $800,000 portfolio withdrawing $32,000/year (4%) at 6% average return with 3% inflation → lasts approximately 35+ years. Increasing withdrawals to 5% ($40,000/year) reduces portfolio longevity to approximately 22–25 years — potentially insufficient for a 65-year-old planning for a 30-year retirement. Use our Retirement Calculator in withdrawal mode to test your specific scenario.
Fidelity's widely cited savings benchmarks suggest having: 1× your salary saved by 30 | 3× by 40 | 6× by 50 | 8× by 60 | 10× by 67. On a $70,000 salary: $70,000 saved by 30 | $210,000 by 40 | $420,000 by 50 | $560,000 by 60 | $700,000 by 67. These are guidelines for replacing approximately 45% of pre-retirement income from savings (combined with Social Security covering another 35%–40%). Higher earners typically need to save more of their own income since Social Security replaces a smaller percentage of pre-retirement earnings.
401K Calculator | Roth IRA Calculator | IRA Calculator | Social Security Calculator | Pension Calculator | Annuity Calculator | RMD Calculator | Investment Calculator | Savings Calculator | Inflation Calculator
Retiring at 60 means planning for a potentially 30–35 year retirement — longer than the standard 30-year window the 4% rule was tested against. For a 60-year retirement, a 3%–3.5% withdrawal rate is safer. If you need $60,000/year: $60,000 ÷ 0.03 = $2,000,000 target. Also note: Social Security full retirement age is 66–67 (depending on birth year) and you can't access Medicare until 65, so early retirement requires bridging these gaps with private insurance and savings. The SSA's detailed retirement information is at SSA.gov/retirement.
The IRS 401(k) employee contribution limit for 2025 is $23,500. For employees age 50 and older, catch-up contributions of an additional $7,500 are allowed, bringing the total to $31,000. The combined limit (employee + employer contributions) is $70,000 or 100% of compensation, whichever is less. These limits are adjusted annually for inflation. Check current limits at IRS.gov.
Yes — but how comfortably depends on your spending needs and retirement length. At a 4% withdrawal rate, $1 million provides $40,000/year. Combined with Social Security (average benefit approximately $1,800–$2,200/month for average earners), total retirement income could be $60,000–$65,000/year — enough for a comfortable retirement in lower-cost areas. In high-cost cities like New York or San Francisco, $1 million is likely insufficient as a sole retirement resource. Reducing expenses, moving to a lower-cost state, and delaying Social Security to maximise benefits all extend how far $1 million reaches.
Important: Retirement projections are estimates based on assumed constant returns, which actual investment returns never are. Market fluctuations, sequence-of-returns risk, inflation, tax law changes, and individual circumstances significantly affect real retirement outcomes. This calculator is for planning and educational purposes only — not financial advice. Consult a Certified Financial Planner (CFP) for personalised retirement planning guidance. Social Security benefit estimates: SSA.gov.
Most retirement calculators target a withdrawal-rate-safe portfolio: at a 4% safe withdrawal rate, a $1 million balance produces $40,000/year (inflation-adjusted) for 30 years with high confidence. To replace $80,000/year of pre-retirement spending, you need roughly $2 million at retirement (in today's pounds or dollars). Our retirement calculator reverse-engineers the monthly savings target from your desired retirement income, current age, retirement age, and expected real return.
The Trinity Study (1998) and Bengen's original 1994 paper found that withdrawing 4% of an initial portfolio (adjusted for inflation each year) survived 30-year retirements in 96%+ of historical periods. Modern research suggests 3.3–3.5% is safer for 40-year retirements (early retirees take note) and 4.5% is reasonable for 25-year retirements. Our calculator runs both Monte Carlo and historical-sequence simulations.
2026 catch-up limits: $7,500 extra on 401(k), $1,000 extra on IRA, $11,250 super-catch-up on 401(k) at ages 60–63 (SECURE 2.0). A 50-year-old behind on savings who maxes catch-ups for 15 years adds $200,000+ to retirement balance at 7% real returns. Late-start catch-up is mathematically powerful — never assume the window is closed.
US Social Security at full retirement age (67) typically replaces 40% of pre-retirement income for average earners, 25% for high earners. UK State Pension (£11,500/year for full National Insurance record in 2026) replaces about 20% of UK average earnings. Subtract these from your target retirement income before sizing private savings — most retirees over-save by failing to credit state benefits.
Two retirees with identical 30-year average returns can have wildly different outcomes if one experiences losses in years 1–5. A 30% drop in year 2 of retirement, even with full recovery later, can shorten portfolio life by 8–10 years. Our retirement calculator stress-tests against this by running a 1972-style early bear market on top of average returns. Mitigation: cash buffer, dynamic withdrawal, or annuitisation of a portion of the portfolio.
25× annual spending is the classic 4% rule target. For $80,000 spending, that is $2M. UK State Pension or US Social Security typically reduces this by 20–40%.
Earliest no-penalty US: age 59½ (IRA), age 55 (401(k) Rule of 55). UK: age 55 currently, rising to 57 in 2028. FIRE math: a 25× portfolio is the minimum threshold.
4% for 30-year retirements (historical 96% success). For 40+ years (early retirees), aim for 3.3–3.5%. Dynamic-withdrawal strategies allow higher initial rates.
Yes — subtract it from your target before sizing private savings. Average benefit at FRA is ~$22,000/year in 2026.
At 4% withdrawal, $1M produces $40,000/year. Adequate for modest lifestyles + Social Security; tight for high-cost-of-living areas without state benefit cushion.
This retirement calculator is built for the United Kingdom, working in pounds sterling (GBP) and around the pension system UK savers actually use — workplace pensions, SIPPs and the State Pension. Enter your age, current pot, monthly contributions and expected return, and it projects the pension pot you could build by retirement.
Most people save through a workplace pension under auto-enrolment, which sets a minimum total contribution of 8% of qualifying earnings — 5% from you and 3% from your employer. Because the employer share is added on top, opting out means leaving money on the table. A key advantage is tax relief: a basic-rate taxpayer gets 20% relief and a higher-rate taxpayer can claim up to 40%, so an £80 contribution effectively becomes £100 in your pot.
If you want more control, a SIPP (Self-Invested Personal Pension) lets you choose your own investments while still receiving tax relief. Contributions are capped by the annual allowance (currently £60,000 for most people, or 100% of earnings if lower). On retirement you can normally take a 25% tax-free lump sum from your pot, with the rest taxed as income. Separately, the State Pension provides a flat-rate government income based on your National Insurance record, paid on top of private savings.
Suppose you contribute £400 per month as a basic-rate taxpayer. Tax relief tops this up by 20%, so £500 actually goes into your pension pot each month. Investing that £500 monthly from age 30 to 67 at a 5% annual return could grow to roughly £560,000. You could then take 25% — about £140,000 — as a tax-free lump sum, with the remainder providing taxable income.
| Detail | Amount |
|---|---|
| Your monthly contribution | £400 |
| With 20% tax relief | £500 |
| Years invested (age 30–67) | 37 |
| Projected pot at 5% | ~£560,000 |
| 25% tax-free lump sum | ~£140,000 |
Under auto-enrolment the minimum total is 8% of qualifying earnings, made up of at least 5% from you and 3% from your employer. You can choose to pay in more, and many employers will match higher contributions.
From the normal minimum pension age you can usually withdraw 25% of your pension pot free of income tax, subject to an overall limit. The remaining 75% is taxed as income when you draw it.
The government adds tax relief at your highest rate — 20% for basic-rate and up to 40% for higher-rate taxpayers — so a contribution costs you less than the amount that lands in your pot. Higher-rate relief above 20% is often claimed through your tax return.