Retirement
Am I saving enough to retire?
Estimate how much you'll have saved by the time you retire and how many years that money could support you. It also finds your “FIRE number” — the amount that would let you live off your savings.
How to use this calculatorShowHide
- Step 1: Enter your age, the age you'd like to retire, what you've saved so far and how much you save each month.
- Step 2: Keep the default growth and inflation rates unless you have a reason to change them — they're common long-term assumptions.
- Step 3: Enter how much you'd want to spend each year in retirement (in today's money), then see how long your savings last.
What you'll need
- Your retirement account balances (401(k), IRA and so on)
- How much you save for retirement each month (include any employer match)
- A rough yearly budget for retirement
Don't know a number? Leave the example value in, or tap the ⓘ next to it. New to this? Read the Beginner's Guide →
Projected nest egg at 60
$1,550,065
Saving $1,000 a month from age 30 at 7%, you'd retire at 60 with about $1,550,065 — worth $638,606 in today's dollars. You'd hit your FIRE number of $1,250,000 at about age 75.8, after your planned retirement. Spending $50,000 a year (today's dollars, rising with inflation), your money lasts until age 74.9.
- In today's dollars
- $638,606
- FIRE number (today's $)
- $1,250,000
- $3,034,078 in future dollars at 60
- Age you hit FIRE
- 75.8
- Money lasts
- To age 74.9
- 14.9 years of retirement
- First-year withdrawal
- $121,363
- 7.8% of nest egg
What this means
In plain English
Retirement planning comes down to two phases:
- Saving years — you add money and it grows.
- Retirement years — you take money out to live on, while the rest keeps growing.
This calculator estimates how much you'll have when you retire and how long it could last. It also shows your FIRE number: roughly how much you'd need to live off your savings without working.
When to use it
- Checking whether you're on track
- Seeing what changes if you save more or retire later
- Finding your FIRE number
Example
Say you want to spend $50,000 a year. Using the common 4% rule, your FIRE number is $50,000 ÷ 0.04 = $1,250,000. That's 25 times your yearly spending.
If you're 30, have $50,000 saved, and save $1,000 a month at 7%, you'd have about $1.55 million at 60. That sounds like plenty — but with prices rising about 3% a year, it would only buy what about $640,000 buys today. At that level, the money would run out around age 75. Saving more, retiring a little later or spending less would close the gap.
Watch out for
Forgetting about inflation. A million dollars 30 years from now won't buy what a million buys today. That's why the calculator shows results in today's dollars too — compare your goal and your projection in the same kind of dollars.
The math (optional)
- FIRE number = yearly spending ÷ withdrawal rate (at 4%, that's 25 × spending)
- Growth is added monthly at
(1 + yearly return)^(1/12) − 1. - Today's dollars = future dollars ÷ (1 + inflation)^years
- In retirement, your spending goes up with inflation each year, and the calculator keeps going until the money runs out or you reach age 120.