🏦 Retirement Income Calculator
📊 Retirement Income Plan
📅 Retirement Projection
Enter your details and click "Calculate" to see the projection
🧮 Understanding Retirement Income Planning
Planning for retirement requires careful consideration of future expenses, investment growth, and income sources. This calculator helps you create a realistic plan for financial security.
Future Value of Savings: Where PV is current savings, r is return rate, n is years, and P is annual contribution.
4% Safe Withdrawal Rule: Withdraw 4% annually to maintain a high probability of not outliving your money over 30 years.
Accumulation Phase
Aggressive growth
Transition Phase
Reduce risk gradually
Preservation Phase
Capital preservation
Retirement Income Sources:
- Personal Savings: 401(k), IRA, Roth IRA, taxable accounts
- Social Security/Pension: Government or employer benefits
- Annuities: Insurance products providing guaranteed income
- Rental Income: Property investments generating cash flow
Most retirees use a combination of savings, Social Security, and other income sources. The goal is to create a sustainable income stream that supports your desired lifestyle throughout retirement.
🧭 How to Use This Calculator
- Select your preferred currency from the dropdown at the top of the calculator.
- Enter your current age, retirement age, and life expectancy — the age up to which you'll need retirement income.
- Fill in your current retirement savings and the annual contribution you plan to keep making until retirement.
- Enter your expected pre-retirement and post-retirement return rates to model growth before and after you stop working.
- Add your estimated annual retirement expenses, expected inflation rate, and any other income sources such as Social Security or a pension.
- Click Calculate to see your projected savings at retirement, estimated income, years of coverage, shortfall or surplus, and retirement readiness score.
- Scroll down to review the Retirement Projection — toggle between "By Year" for a year-by-year balance and "By Month" for a full month-by-month breakdown across your working and retirement years.
- Click Reset at any time to clear all fields and start a new calculation.
❓ Frequently Asked Questions
How is my total savings at retirement calculated?
The calculator projects your current savings and annual contributions forward using compound growth at your expected pre-retirement return rate, following the standard future value of an annuity formula.
What is the 4% withdrawal rule?
The 4% rule is a common retirement planning guideline suggesting you can withdraw 4% of your total retirement savings in the first year, and adjust that amount for inflation each year after, with a high probability of not running out of money over a roughly 30-year retirement.
What does "Years of Retirement Income Coverage" mean?
This estimates how many years your projected savings can sustain your inflation-adjusted expenses, based on your post-retirement return rate and withdrawal needs, up to your life expectancy.
Why does delaying retirement by 5 years make a difference?
Working and saving for additional years lets your investments compound longer and reduces the number of years your savings need to cover, which can meaningfully increase your sustainable annual income — the calculator quantifies that impact for you.
What's the difference between the "By Year" and "By Month" projection views?
"By Year" shows your projected balance and phase (Working or Retired) for every year from your current age through your life expectancy. "By Month" breaks that same span down into every individual month, so you can see the full schedule in more granular detail.