* The accuracy and applicability of this calculator is not guaranteed,actual values may vary slightly.

Current Age:
Current Savings:
Retirement Age:
Desired Income:
Age Savings Run Out:
Inflation Rate:
Rate of Return:
Rate of Return:
Tax Rate:
Tax Rate:

You can use this calculator to find out how much you need to save in order to reach your retirement goals, or (if you are already retired) you can find out how much income you can safely draw out each year.

Current Age is your current age

Current Savings is the amount of savings you currently have

Retirement Age is the age at which you wish to retire

Desired Income is your desired retirement income. Most experts recommend approximately 70% of your current income.

Age Savings Run Out is the age at which your savings have run out, and you no longer can draw any income.

Inflation Rate is your guess as to the average future inflation rate. A figure between 3.0 and 5.0 would be a reasonable guess. (Note that you do not have to include the % sign). You will quickly discover that changing this rate vastly changes the calculator's body.

Rate of Return is your guess as to the rate at which your savings will grow in the future. The default pre-retirement rate of 8.0% is based on experts' opinion as to the long-term rate on equity investments. The default post-retirement rate of 6.0% is based on the long-term rate of tax-free municipal bonds.

Tax Rate is the tax rate on your investments. This calculator presumes 28% on pre-retirement investments which is quite high (basically it means that you are investing in CD's or mutual funds which pay dividends/interest each year; you should instead be holding investments long-term or in IRA's or 401(k)'s in which case your taxes would be deferred). The post-retirement rate of 0% presumes that you have invested your assets in non-taxable instruments.

Calculate. When you press the Calculate button, the calculator will calculate the amount of savings you may require to meet the retirement income level you have set.