Retirement Savings Goal Calculator
Estimate How Much You Need to Save for Retirement
Use this calculator to explore your savings goal, estimated retirement need, and monthly savings target.
Retirement planning starts with a number. This calculator helps you estimate how much you may need to save each month based on your current savings, desired retirement age, expected income need, and assumed rate of return.
What This Calculator Helps Estimate
- Years until retirement
- Estimated amount needed by retirement
- Estimated monthly savings required
- Projected savings growth over time
- How assumptions may affect your target
Your retirement goal depends on more than your account balance.
Age, savings rate, expected income need, taxes, inflation, investment return, Social Security, pensions, and withdrawal timeline can all affect the amount you may need to save.
Enter your information below.
Your results will update below the form and display a projected savings chart.
Retirement Summary
Years Until Retirement: –
Estimated Amount Needed by Retirement: –
Estimated Monthly Savings Required: –
Your retirement number is a planning target, not a final answer.
Use your calculator results as a starting point. From there, a retirement planning conversation can help refine your assumptions and explore strategies.
Income Gap
Your estimated retirement income need should be compared against Social Security, pensions, annuities, and other income sources.
Monthly Savings Target
The monthly savings estimate can help you see whether your current savings rate is on track or needs adjustment.
Assumptions Matter
Small changes in retirement age, return assumptions, income need, and withdrawal timeline can create very different results.
Next Steps
Your results can help guide conversations about 401(k)s, IRAs, annuities, rollovers, Social Security, and retirement income.
Want a worksheet to go with your numbers?
Download the Retirement Planning Starter Kit to organize your goals, timeline, income questions, and planning priorities.
Download Starter KitListen to Roy’s podcast.
Explore additional retirement, income, insurance, and financial strategy conversations on The Roy Matlock, Jr. Money and Business Hour.
Visit the PodcastUse the calculator, then talk through your next step.
Once you have an estimate, you can schedule time to review your retirement savings goal, income gap, 401(k), IRA, rollover, annuity, and Social Security questions.
This calculator is provided for educational and informational purposes only. Results are estimates based on the information and assumptions entered and should not be considered individualized financial, tax, legal, insurance, or investment advice. Actual retirement needs, investment returns, inflation, taxes, income sources, and withdrawal strategies may vary. Consult with the appropriate professionals before making financial decisions.
