Retirement Milestone Calculator
Plan your financial future by calculating your retirement savings milestones. Determine how much you need to save based on your age, income, savings rate, and retirement goals.
Step 1: Personal Information
Understanding Retirement Milestones
Financial experts recommend having 1x your salary saved by age 30, 3x by 40, 6x by 50, and 8x by 60. These are general guidelines that may vary based on your retirement goals.
Step 2: Financial Assumptions
About Retirement Planning
A 7% average annual return is a common assumption for diversified stock investments over the long term. Remember to adjust your savings rate as your income grows and regularly review your retirement plan.
Retirement Milestone Results
Projected Retirement Savings
Age-Based Retirement Milestones
| Age | Recommended Savings | Your Projected Savings | Status |
|---|
Retirement Savings Projection
Retirement Planning Formula
Future Value = Current Savings × (1 + rate)^years + Annual Savings × [((1 + rate)^years – 1) / rate]
This compound interest formula calculates how your retirement savings will grow over time with regular contributions and investment returns.
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