The Retirement page is a calculator. Enter your current age, the age you want to retire, your savings and your saving habits, and it projects your balance until retirement. It shows a readiness level, whether the money lasts through retirement, and how much more you would need to save each month.
What you'll learn
- The inputs the calculator needs
- How to read the results
- How to compare scenarios
The Retirement Calculator
What you see
- The Retirement Calculator panel with nine inputs, each shown as a slider with its current value beside the label, and a Calculate button.
- After you select Calculate, the results appear below the inputs:
- Readiness level and the readiness score.
- Projected Balance at Retirement, with its age (At age and the number).
- Until Retirement: the number of years left.
- Additional Monthly Savings Needed: the extra amount each month that would close the gap.
- Balance Projection by Age: a chart of your balance by age, from now to after retirement.
- Scenarios: a table with the Pessimistic, Expected and Optimistic return cases, each with its annual return and its Outcome.
Enter your numbers
- Set Current Age and Retirement Age.
- Set Current Savings and Monthly Contribution.
- Set Expected Return (%), Inflation Rate (%), Desired Monthly Income, Life Expectancy and Social Security. Social Security is the monthly amount you expect.
- Select Calculate.
The inputs are sliders: drag one, and the value beside its label changes. The results do not update until you select Calculate again.
Use realistic figures. A different expected return changes the result a lot, so look at the Scenarios table before you decide.
Read the results
- Readiness is one of four levels: On Track, Nearly There, Needs Attention or At Risk. Change one input at a time to see its effect.
- The Outcome of each scenario is either Funds last through retirement or Funds depleted at age the age shown.
- Additional Monthly Savings Needed is the gap to close. Treat it as the amount to add to your savings each month, for example through a rule on the Savings Coach.
This is an estimate based on the numbers you enter. It is not financial advice. For decisions about pensions or tax-advantaged accounts, speak to a qualified adviser.
Frequently asked questions
FAQ
No. Enter your current savings yourself. Your Accounts and Net Worth pages are separate.
The results are calculated when you select Calculate. Select it again after you change the inputs.
Look at Additional Monthly Savings Needed. A small increase in monthly saving, or a later retirement age, can change the outcome. Try a few values and compare.