Comprehensive Retirement Planner

Plan your financial future with confidence. This tool helps you calculate how much to save monthly, explore savings options, and understand how to allocate your funds to reach your retirement goals.

Your Information

Please enter a valid age between 18 and 80.
Please enter a valid retirement age between 40 and 85, and greater than your current age.
Please enter a valid income amount.
Please enter a valid savings amount.
Please enter a valid monthly contribution.
Please enter a valid desired income.

The calculator makes certain assumptions that impact your results. Click below to view and adjust these assumptions.

Calculation Assumptions

These factors significantly impact your retirement calculations. Adjust them to match your personal expectations.

Please enter a valid inflation rate between 0% and 10%.
Please enter a valid return rate between 0% and 15%.
Please enter a valid return rate between 0% and 10%.
Please enter a valid growth rate between 0% and 10%.
Please enter a valid life expectancy between 70 and 120, and greater than your retirement age.
Please enter a valid employer match between 0% and 10%.

Your Retirement Plan Results

Monthly Savings Needed

$1,250

That's $750 more than your current monthly contribution.

Retirement Summary

Years until retirement: 35
Target retirement savings: $1,200,000
Projected savings at current rate: $750,000
Retirement savings gap: $450,000

Retirement Income

Desired annual income: $48,000
Projected income from savings: $30,000
Estimated Social Security: $18,000
Income gap: $0

Recommended Savings Allocation

Retirement Savings Options

There are several types of accounts you can use to save for retirement. Each has different tax advantages, contribution limits, and rules.

401(k) / 403(b) Plans

Description: Employer-sponsored retirement plans with higher contribution limits.

  • Traditional: Contributions are pre-tax, reducing your current taxable income. Withdrawals in retirement are taxed as ordinary income.
  • Roth: Contributions are made with after-tax dollars, but qualified withdrawals in retirement are completely tax-free.

Annual Contribution Limit (2025): $23,000

Catch-up Contribution (age 50+): Additional $7,500

Best for: Taking advantage of employer matches, higher contribution limits, and convenient payroll deductions.

Individual Retirement Accounts (IRAs)

Description: Personal retirement accounts you can open independently of your employer.

  • Traditional IRA: Tax-deductible contributions (subject to income limits if you have a workplace plan). Withdrawals in retirement are taxed as ordinary income.
  • Roth IRA: Contributions are made with after-tax dollars, but qualified withdrawals in retirement are completely tax-free. Income limits apply.

Annual Contribution Limit (2025): $7,000

Catch-up Contribution (age 50+): Additional $1,000

Best for: Additional retirement savings beyond workplace plans, more investment options, and Roth tax advantages.

Health Savings Account (HSA)

Description: A tax-advantaged account for healthcare expenses that can also serve as a retirement account.

HSAs offer triple tax advantages: tax-deductible contributions, tax-free growth, and tax-free withdrawals for qualified medical expenses. After age 65, you can withdraw funds for any purpose, paying only ordinary income tax (like a Traditional IRA).

Annual Contribution Limit (2025): $4,150 (individual) / $8,300 (family)

Catch-up Contribution (age 55+): Additional $1,000

Best for: Triple tax advantages if you have a high-deductible health plan, healthcare expenses in retirement.

Taxable Investment Accounts

Description: Regular brokerage accounts without specific tax advantages.

While these accounts don't offer upfront tax breaks, they provide flexibility with no withdrawal restrictions or contribution limits. Long-term capital gains are taxed at lower rates than ordinary income, and you can implement tax-efficient strategies.

Annual Contribution Limit: No limit

Best for: Supplemental savings after maxing out tax-advantaged accounts, flexibility for early retirement, and liquidity needs.

Your Personalized Savings Strategy

Based on your profile, here is a recommended savings strategy:

Please complete the calculator first to see your personalized savings strategy.

Asset Allocation Strategies

How you allocate your investments among different asset classes is one of the most important factors in your retirement planning. The right allocation balances growth potential with your risk tolerance and time horizon.

Asset Allocation Models

Conservative Allocation

Bonds: 60%
Stocks: 30%
Cash/Money Market: 10%

Expected Annual Return: 4-5%

Risk Level: Low

Best for: Retirees or those within 5 years of retirement, conservative investors prioritizing capital preservation.

Moderate Allocation

Stocks: 60%
Bonds: 35%
Cash/Money Market: 5%

Expected Annual Return: 6-7%

Risk Level: Medium

Best for: Those 5-15 years from retirement, balanced approach between growth and capital preservation.

Aggressive Allocation

Stocks: 80%
Bonds: 15%
Cash/Money Market: 5%

Expected Annual Return: 8-10%

Risk Level: High

Best for: Those 15+ years from retirement, comfortable with market volatility for long-term growth.

Very Aggressive Allocation

Stocks: 90%
Bonds: 10%
Cash/Money Market: 0%

Expected Annual Return: 9-11%

Risk Level: Very High

Best for: Young investors 20+ years from retirement, very high risk tolerance.

Age-Based Asset Allocation

A common rule of thumb is to subtract your age from 110 or 120 to determine the percentage of your portfolio that should be in stocks. For example, if you're 30, you might aim for 80-90% in stocks. This gradually shifts your portfolio toward more conservative investments as you approach retirement.

Your Recommended Asset Allocation

Please complete the calculator first to see your personalized asset allocation recommendation.

Retirement Planning Education

Key Retirement Planning Concepts

  • Compound Interest: The process where your investment returns generate their own returns over time. The earlier you start saving, the more powerful compounding becomes.
  • Inflation: The gradual increase in prices over time that reduces purchasing power. Retirement planning must account for inflation to maintain your standard of living.
  • Diversification: Spreading investments across different asset classes to reduce risk. A diversified portfolio helps protect against market volatility.
  • Tax-Advantaged Accounts: Retirement accounts that offer tax benefits, either through tax-deferred growth (Traditional) or tax-free withdrawals (Roth).
  • The 4% Rule: A guideline suggesting that retirees can withdraw about 4% of their portfolio value in the first year of retirement, adjusting for inflation in subsequent years, with a high probability of not running out of money over a 30-year retirement.

Common Retirement Planning Mistakes

  • Starting Too Late: Delaying retirement savings significantly increases the monthly amount you need to save.
  • Underestimating Life Expectancy: People are living longer than ever. Planning to age 90 or beyond helps avoid outliving your savings.
  • Ignoring Inflation: Even modest inflation can significantly reduce your purchasing power over a 20-30 year retirement.
  • Inadequate Diversification: Being too conservative can limit growth, while being too aggressive near retirement can expose you to excessive risk.
  • Not Maximizing Employer Matches: Failing to capture your full employer 401(k) match is essentially leaving free money on the table.
  • Overestimating Social Security: Social Security typically replaces only about 40% of pre-retirement income for average earners.
  • Neglecting Healthcare Costs: Healthcare expenses in retirement can be substantial and often increase faster than general inflation.

Strategies for Different Age Groups

20s-30s: Early Career

  • Start saving as early as possible to maximize compound growth
  • Contribute enough to capture full employer match
  • Pay off high-interest debt
  • Consider Roth accounts while in lower tax brackets
  • Adopt an aggressive asset allocation (80-90% stocks)

40s-50s: Mid-Career

  • Increase savings rate as income grows
  • Consider catch-up contributions (age 50+)
  • Reassess asset allocation (60-70% stocks)
  • Calculate retirement savings gap and adjust strategy
  • Maximize tax-advantaged accounts

60s+: Pre-Retirement

  • Shift toward more conservative investments (40-50% stocks)
  • Consider delaying Social Security to increase benefits
  • Develop a retirement income strategy
  • Plan for healthcare costs and Medicare enrollment
  • Create a withdrawal strategy for retirement accounts

Further Resources