Saver portal

What will saving part of your paycheck mean in retirement?

This retirement calculator is based on Roth IRAs and their contribution limits
Current Pretax Salary
For this calculator, the maximum value allowed is {{maxValueAllowed | currency}}
For this calculator, the maximum value allowed is {{maxValueAllowedHr | currency}}
Savings Rate (%)

This is the rate taken out of your paycheck.

Monthly: {{getMonthlyContribution() | currency}} | Annual: {{getAnnualContribution() | currency}}
Current Age
The current age must be less than {{retirementAge}}.
Retirement Age
For this calculator, the maximum retirement age is {{retirementAgeMax}}.
You’ve exceeded an IRS Limit
  • If you file your taxes as single, the IRS modified adjusted gross income limit to be eligible for a Roth IRA is {{maxSalarySingle | currency}}
  • If you file your taxes as married/joint, the IRS modified adjusted gross income limit to be eligible for a Roth IRA is {{maxSalaryMarried | currency}}
  • If you're under 50 years old, the maximum amount you can save for year {{date| date:'yyyy'}} is {{maxAmountContribution | currency}}
  • If you're 50 or older, the maximum amount you can save for year {{date| date:'yyyy'}} is {{maxAmountContribution + 1000 | currency}}.
  • Please enter value smaller than 500,000.

Savings Tip:

When you start saving is equally important to how much you save — Learn more about savings by visiting our "Why Save?" page.

Retirement Outlook

Based on your salary and savings rate,

your balance could grow to {{projBalanceAtRetirement() | currency: "$" : 0}}

by the age of {{retirementAge}}

which could be {{pmt() | currency : "$" : 0}}/month for {{perYearafterRet()}} years.

Retirement Outlook

Potential retirement savings could
grow to {{projBalanceAtRetirement() | currency: "$" : 0}} by the age {{retirementAge}}

Retirement Outlook

For this calculator, the maximum value allowed is {{maxValueAllowed | currency}}/{{maxValueAllowedHr | currency}}
The current age must be less than {{retirementAge}}.
For this calculator, the maximum retirement age is {{retirementAgeMax}}.
 

The amounts in the chart are projected or hypothetical. Please visit the "How this works" section to learn more.

View projected savings chart

View detailed report

How this works

The savings rate and retirement age shown are either suggestions to get you started or are based on information you provided. They are not intended as savings advice. These settings may or may not be appropriate for you based on your specific situation and goals. To help you decide if you have enough saved for retirement, you should consider your assets, income, investments, and retirement savings.

We don't provide legal, financial, or tax advice — we leave that to the experts. The Simple Retirement Calculator provides an estimate of your retirement needs based on information that you provide and assumptions in the tool (listed below). But it's just an estimate ‐ you should not rely on it as an accurate predictor of the future, and it's not a guarantee.

The Simple Retirement Calculator automatically uses these assumptions unless you modify them:

  • If you do not provide a salary amount, this calculator will default your salary to $30,000.
  • If you do not provide a savings rate, this calculator will default your savings rate to 5%.
  • Unless you adjust your current age, the retirement age used in the calculation will default to age 30.
  • Unless you adjust the projected retirement age, the retirement age used in the calculation will default to age 67.
  • The assumed investment rate of return before you retire is set at 4%, compounded annually.
  • The assumed investment rate of return during retirement is set at 4%, compounded annually.
  • The inflation rate (or the projected rate the cost for goods and services will increase over time), is set to 3%.
  • All values entered and displayed in "today's" dollars. That means we took into account inflation when determining how much you'd save and how much your potential earnings would grow between now and the time you retire, but we're showing you how much your projected total balance and monthly income would be without the inflation. This allows you to compare it to your income today.
  • The calculator assumes your life expectancy is 90 years old.
  • The calculator assumes you will retire no later than 80 years old.
  • The calculator assumes your projected retirement age is greater than your current age.
  • The projected percentage of your income that you will need at retirement is assumped to be 75% of your current income.
  • The calculator assumes you have $0 in existing retirement savings.
  • The calculator does not take into consideration any social security income you may receive.

Results are hypothetical and do not represent the current or future performance of any specific investment. All investing has risk, including the possible loss of money you invest. You can use these estimates to start a conversation with a qualified financial professional.

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