How to use the Retirement Calculator
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The formula
Balance = S × (1 + r)^n + C × ((1 + r)^n − 1) ÷ r, monthly compounding.
Examples
- Age 35, retiring at 65, $50,000 saved, $800/month, 6% return
Savings at age 65: $1,104,740.79 In today's money (after 2.5% inflation): $526,677.09 Total contributed: $338,000.00 Annual income at a 4% withdrawal rate: $44,189.63 ($3,682.47 per month)
- Saving $1,200 a month instead
Savings at age 65: $1,506,546.81 In today's money (after 2.5% inflation): $718,235.17 Total contributed: $482,000.00 Annual income at a 4% withdrawal rate: $60,261.87 ($5,021.82 per month)
- Starting at 45 with $100,000
Savings at age 67: $919,338.80 In today's money (after 2.5% inflation): $534,011.43 Total contributed: $364,000.00 Annual income at a 4% withdrawal rate: $36,773.55 ($3,064.46 per month)
Limitations and assumptions
Projection only. Returns vary, and taxes, fees and Social Security are not modelled.
Frequently asked questions
What is the 4 percent rule?
A guideline that withdrawing about 4 percent of your starting balance each year, adjusted for inflation, has historically lasted around 30 years. It is not a guarantee.
How much do I need to retire?
Many planners aim for 25 times annual spending, which is the 4 percent rule in reverse.
What return is realistic?
Use a modest figure and test a lower one. Real returns vary a lot year to year.
Is this financial advice?
No. It is a projection with simple assumptions; consider a licensed adviser for planning.