Why Plan Now?
- The median retirement savings for Americans aged 55-64 is only $71,0001—far below what experts recommend for a comfortable retirement.
- People who use retirement calculators are nearly twice as likely to feel confident about their financial future2 and take positive action toward their goals.
- For every decade you delay saving, you need to save approximately three times3 as much to reach the same retirement goal.
- Research shows that working just 3-6 months longer and delaying Social Security during that period has the same impact on your retirement living standard as saving an extra 1% of your earnings for 30 years.4
Imagine what starting years earlier could do!
Our calculator isn't just about numbers—it's about possibilities. Whether you dream of traveling the world, starting a passion project, or simply enjoying peace of mind, the choices you make today shape the options you'll have tomorrow.
[1] CNBC, "53% of Americans surveyed feel they are behind on retirement planning and savings, CNBC poll finds," April 3, 2024.
[2] Bankrate, "Survey: More Than Half Of American Workers Feel Behind On Their Retirement Savings," September 25, 2024.
[3] Charles Schwab, "Waiting to Save for Retirement Could Cost You," 2024.
[4] Social Security Administration, "Retirement Implications of a Low Wage Growth, Low Real Interest Rate Economy," 2023.
What the FAQ?
How accurate is this retirement calculator?
This calculator gives you solid projections based on your inputs, but let's be clear—money and markets are unpredictable! Think of this as your financial GPS: it'll point you in the right direction, but the journey might have some detours. That's why we recommend doing a quick check-in with your retirement plan annually, and maybe chatting with a financial coach for personalized strategies that align with your bold money moves.
What's the deal with the "4% rule" and how does your calculator compare?
The 4% rule is old-school financial advice that says you can withdraw 4% of your savings in your first retirement year and adjust for inflation after that. But frankly, that's a one-size-fits-all approach, and we know you're unique! Our calculator takes your specific timeline, spending needs, and savings rhythm into account—because your retirement deserves a personalized strategy, not a cookie-cutter formula.
Should I count on Social Security when planning my future?
Absolutely include it—Social Security is money you've earned! While our calculator doesn't automatically factor in these benefits, you can easily account for them by reducing your "Annual Spending in Retirement" by your expected Social Security income. Want to get really clear on your numbers? Grab your personalized estimate directly from the Social Security Administration website, then plug those figures into your plan.
How much should I actually be saving each year?
The standard financial wisdom says 15-20% of your income should go toward retirement, but we believe in practical, achievable goals! Your perfect savings rate depends on when you start, what kind of lifestyle you want, and what other money goals you're crushing along the way. Our calculator helps you see if you're on track or need to level up your savings game to create the future you deserve.
I'm starting late to the retirement savings game. Am I doomed?
Not even close! It's NEVER too late to take control of your financial future. Starting later just means you need a bolder strategy—maybe saving at a higher rate, working a few extra years, or getting creative with your retirement lifestyle. Our calculator lets you play with these variables so you can find a practical path forward that works for YOUR life. Remember, taking action today is what matters most!
How does inflation factor into all this? (Because prices keep climbing!)
Great question—inflation is the silent money-eater we all need to plan for! Our calculator already factors inflation into the projections. The "Expected Annual Return" represents your real return after inflation, and your "Annual Spending in Retirement" is entered in today's dollars. We then do the math to show you how your money will actually grow and last when facing the reality of rising costs. No rose-colored glasses here—just practical planning!
Why show me how many coffees or streaming subscriptions my retirement savings equals?
Because abstract numbers don't tell the full story of your life! We translate your retirement income into everyday purchases so you can visualize what your money actually means in real-world terms. It's about making finance relatable and personal—exactly what money conversations should be!
