Menu
* Retirement
  + Finance
    - 
  + Insurance
  + Life
* Aging in Place
  + Caregiving
  + Medical Alert Systems
  + Safety
* Housing & Care
  + Senior Care
  + Paying for Care
  + Housing
* Technology
  + Cable & Internet
  + Cell Phones
  + Hearing Aids
* About
  + 
Calculator
# Retirement Calculator
Use our free retirement calculator to estimate how much money you’ll have in retirement.
!
Writer and Editor
Editor in Chief
Listen to Article
 is supported by commissions from providers listed on our site. Read our 
## How Our Retirement Calculator Works
Our retirement calculator uses the information you have now to see where you’ll be when you retire. That way, you can see if you’re saving enough money to meet your retirement goals or if you need to make some changes. If you’re already , you can calculate how long your retirement savings will last. You can view how your savings can grow year by year, even accounting for less predictable factors like inflation and market performance. Using industry-tested equations and projection models, we estimate what your savings will look like before you retire, at your desired retirement age, and up to 40 years into your retirement.
## How to Use the Retirement Savings Calculator
To make the process as easy as possible, you’ll need to input a few pieces of information: what you ***know*** and what you ***assume***.
**What You Know**
* Your age
* Your annual income
* Spouse’s annual income (if applicable)
* Current retirement savings
* Desired retirement age
* Years of retirement income
* Future  benefits
**What You Assume**
* Expected annual inflation rate
* Income replacement percentage
* Pre- and post-retirement investment return
Your assumptions can make things a bit trickier, since they aren’t set in stone, but here’s some additional information to consider:
* **Inflation:** Between 1980 and 2022, the U.S. saw an average annual inflation rate of 3.43 percent1; regardless of the inflation rate you set, our calculator uses this number to anticipate increases in your future income.
* **Income replacement percentage:** This term refers to the percentage of your current income that you would need to live comfortably in retirement; many experts recommend between 70 and 90 percent for retirees, though you may choose to adjust this figure based on your own needs and preferences.
* **Pre- and post-retirement investment return:** Retirement savings and investment portfolios tend to be more aggressive while you’re young and more conservative as you age; you can generally use higher pre-retirement earnings and lower post-retirement earnings for your calculations, especially if you plan to move your savings into less risky investment vehicles.
Once you input all of your information and click “Calculate,” you’ll get a summary of your results. For a spreadsheet that breaks down your data year by year, be sure to click the “Detailed Results” button.
FYI:
**FYI:** If you’re concerned about the cost of  or medical care during retirement, consider acquiring a long-term care insurance plan.
## Tips to Boost Your Retirement Savings
It’s never too late to start saving for retirement, but the earlier you can invest in your future, the better. Here are a few tips to boost savings in the years leading up to retirement:
* Set a saving schedule that makes sense for you. It may be tempting to put as much toward savings as possible, but if it takes away from the funds you need to pay your bills now, you could do more harm than good. If you need to withdraw funds earlier than expected to make ends meet, you may incur a penalty for early withdrawal.
* If your employer offers a match on contributions, do your best to maximize your own contributions up to the yearly limit for your account. If you don’t contribute the maximum for a given year, you’re essentially leaving free money on the table.
* Anticipate your cost of living during retirement by studying how much you spend now; while many expenses will remain the same, others will change. If you’re like most seniors, you might see higher health care bills2 and lower housing costs (especially if you’ve paid off a ).
Pro Tip:
**Pro Tip:** Feeling unsure about your finances? Check out our  for help.
**>> Related Calculator**: 
## FAQ
* When should I retire?
  Several factors impact the decision to retire, including your health, job type, income, and savings. Many people aim to retire at age 65, but more and more people are retiring later, especially since full  for new retirees don’t kick in until age 67 for those born in 1960 or later.3
* How much money should I have saved to retire at 65?
  This all depends on what kinds of expenses you anticipate during retirement. As a general rule, you should aim to save at least eight to 10 times your annual salary. So, if you currently make $100,000 per year, you should try to save between $800,000 and $1 million by the time you turn 65. Read our guide on  to learn more.
* What is the $1,000-a-month rule for retirement?
  Many experts believe that you should save $240,000 for every $1,000 of monthly income you want in retirement. For example, if you want to have $5,000 of monthly retirement income (not including Social Security and other benefits), you’ll need to save $1.2 million by the time you retire.
Citations
1. U.S. Bureau of Labor Statistics. (2023). .
2. AARP. (2023). .
3. SSA. (2023). .
Written By:
Matthew Jones
Matthew is a freelance writer who has written on a wide range of topics, from personal finance to nutrition. Over the past three years, Matthew has worked extensively on articles and guides for seniors related to Medicare, insurance, and finance…. 
Reviewed By:
Jeff Hoyt
As Editor-in-Chief of the personal finance site MoneyTips.com, Jeff produced hundreds of articles on the subject of retirement, including preventing identity theft, minimizing taxes, investing successfully, preparing for retirement medical costs, protecting your credit score, and making your money last… 
Need Help?
Our Senior Living Consultants are Standing by...
(855) 241-1699
Search
Please enter a valid zip
The content, including without limitation any viewpoint or opinion in any profile, article or video, contained on this website is for informational purposes only. Any third party contributor to any such profile, article or video has been compensated by SeniorLiving.org for such contribution. It is advised that you conduct your own investigation as to the accuracy of any information contained herein as such information, including without limitation any medical advice, is provided "as is" for informational purposes only. Further, SeniorLiving.org shall not be liable for any informational error or for any action taken in reliance on information contained herein.
© Copyright 2025 SeniorLiving.org a Centerfield Media Company
Please ensure Javascript is enabled for purposes of