Retirement Income Calculator
Calculate your retirement income needs with our comprehensive calculator. Determine how much you need to save, projected retirement income, and withdrawal strategies based on your financial situation.
Step 1: Personal Information
Planning Your Retirement
Consider factors like healthcare costs, lifestyle choices, and inflation when planning retirement age. Most financial advisors recommend aiming for age 65-67 for full Social Security benefits.
Step 2: Financial Information
About Withdrawal Rates
The 4% rule is a common retirement strategy suggesting you can withdraw 4% of your savings annually without depleting your funds. Adjust based on your risk tolerance and retirement goals.
Retirement Projection Results
Estimated Annual Retirement Income
Withdrawal Strategy Comparison
| Withdrawal Rate | Annual Income | Portfolio Longevity | Risk Level |
|---|
Retirement Savings Projection
Retirement Calculation Formula
Future Value = Current Savings × (1 + Annual Return)^Years + Annual Contribution × (((1 + Annual Return)^Years – 1) / Annual Return)
To calculate retirement savings: Account for compound growth on current savings and regular contributions, then apply your chosen withdrawal rate to determine annual retirement income.
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