Retirement Gap Calculator
Calculate your retirement gap to determine if you’re saving enough. Find out how much you need to save for a comfortable retirement based on your current finances and goals.
Step 1: Current Financial Situation
Retirement Gap Formula
Retirement Gap = Required Retirement Savings – Projected Future Savings
Accounts for inflation, investment returns, and withdrawal rates.
Step 2: Retirement Goals & Assumptions
Common Retirement Benchmarks
• Age 30: 1x annual salary saved
• Age 40: 3x annual salary saved
• Age 50: 6x annual salary saved
• Age 60: 8x annual salary saved
• Retirement: 10-12x annual salary saved
Retirement Gap Analysis
Your Retirement Gap
Retirement Savings Projection
| Age | Projected Savings | Annual Contribution | Investment Growth |
|---|
Strategies to Close Your Retirement Gap
Increase Savings Rate
• Increase your annual contribution by 1-2% each year
• Maximize employer retirement plan matching
• Consider catch-up contributions if over age 50
Adjust Retirement Plans
• Delay retirement by 2-5 years to increase savings time
• Plan for part-time work during early retirement
• Consider downsizing or relocating to reduce expenses
Investment Strategy
• Review asset allocation for optimal risk/return balance
• Consider low-cost index funds to reduce fees
• Rebalance portfolio annually to maintain target allocation
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