Estimate your retirement savings based on your current balance, monthly contributions, and years until retirement. See if you are on track to meet your retirement goal.
Retirement savings planner 401k · IRA · All accounts
The most common rule is to save 25x your expected annual expenses (the "4% rule" — withdrawing 4% of your savings per year). If you need $60,000/year in retirement, aim for $1.5 million. However, this depends on your Social Security benefits, pension income, healthcare costs, and expected lifespan. Many financial planners recommend targeting 10–12x your final salary.
What is the 4% rule? ›
The 4% rule states that you can safely withdraw 4% of your retirement portfolio annually for at least 30 years without running out of money (assuming a balanced portfolio). For example, $1 million × 4% = $40,000/year. It is based on historical market returns and is a useful starting point, though not a guarantee — particularly in low-return environments.
How much should I contribute to my 401(k)? ›
At minimum, contribute enough to get your full employer match — this is free money. Beyond that, aim for 10–15% of your gross income for retirement. The 2025 401(k) contribution limit is $23,500 ($31,000 if age 50+). IRA limits are $7,000 ($8,000 if age 50+). If you can, max out both.
When should I start investing for retirement? ›
As early as possible. Due to compound interest, money invested in your 20s is worth roughly 4–8x more at retirement than the same money invested in your 40s. A 22-year-old investing $200/month at 7% will have approximately $525,000 at 65. Starting at 32 with the same contributions yields only about $262,000 — half the amount, despite investing for just 10 fewer years.
What is a Roth vs. traditional IRA or 401(k)? ›
Traditional accounts use pre-tax dollars (you pay tax when you withdraw in retirement). Roth accounts use after-tax dollars (withdrawals are tax-free in retirement). If you expect to be in a higher tax bracket in retirement, Roth is generally better. If you expect a lower bracket in retirement, traditional may be better. Many experts recommend having both for tax flexibility.
About this retirement calculator
Our retirement calculator projects your savings balance at retirement based on your current savings, monthly contributions, employer match, and expected investment returns — compounded monthly over your working years. It then estimates how many years your savings will last based on your withdrawal needs.
The impact of starting early
The single most important factor in retirement savings is time. Even modest contributions started early grow into substantial wealth through decades of compounding. Use this calculator to see exactly how your trajectory changes by starting 5 or 10 years earlier — the difference is typically hundreds of thousands of dollars.