Retirement calculator: Estimate how much you need to save

Use this calculator to determine your estimated retirement savings total and if you will obtain enough savings to meet your spending goals during retirement. This calculator accounts for spending during retirement from the inputted retirement age to the age of 95. Totals are rounded to the nearest dollar.

A common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2024 the CPI has a long-term average of about 3.0 percent annually. Over the last 50 years highest CPI recorded was 13.5 percent in 1980. Please note that this calculator defaults to using a default 2.9 percent inflation rate.

It's important to remember that these calculations are hypothetical and future rates of return can’t be predicted with certainty and involve a multitude of outside factors, such as the type of investment, its risk and volatility.

Retirement calculator definitions

• Retirement age: Age you wish to retire. This calculator assumes that the year you retire, you do not make any contributions to your retirement savings. So if you retire at age 65, your last contribution occurs when you are actually age 64. This calculator also assumes that you make your entire contribution at the end of each year.
  
  
• Current annual household income: Your total household income. If you are married, this should include your spouse's income.
  
  
• Annual income increase: The annual percent increase you expect in your household income.
  
  
• Retirement savings: Total amount that you currently have saved toward your retirement. Include all sources of retirement savings such as 401(k)s, IRAs and annuities.
  
  
• Percentage of income to be saved for retirement yearly: The percentage of your annual income you plan to contribute to your retirement savings. This should reflect the total you save toward your retirement. This should include any 403(b), 401(k), or 457(b) plans and your employer's contribution to these plans. It should also include any other retirement accounts such as an IRA or a Roth IRA and any retirement savings in non-retirement accounts. This calculator assumes that you make one annual contribution at the end of each year, and any withdrawals happen once per year at the end of the year.
  
  
• Yearly spend in retirement: Total amount you would like to spend yearly during retirement.
  
  
• Expected return on investments before retirement: This is the annual rate of return you expect from your retirement savings and investments. This should also be an after-tax rate of return if the majority of your retirement savings is not in a tax-deferred account such as a 403(b), 401(k), 457(b), annuity or IRA. The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor's 500® (S&P 500®) for the 10 years ending March 31, 2025, had an annual compounded rate of return of 12.5 percent, including reinvestment of dividends. Over the long term, stocks have returned roughly 10 percent annually. Savings accounts at a financial institution may pay as little as 0.25 percent or less but carry significantly lower risk of loss of principal balances.
  
  It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that Separate Account investment funds and/or investment companies may charge.
  
  
• Expected return on investments during retirement: This is the annual rate of return you expect from your savings and investments during retirement. This should also be an after-tax rate of return if the majority of your retirement savings is not in a tax-deferred account such as a 403(b), 401(k), 457(b), annuity or IRA. It is often lower than the return earned before retirement due to more conservative investment choices to help insure a steady flow of income. The actual rate of return is largely dependent on the types of investments you select. Most investor portfolios shift toward fixed income investments during retirement and away from stocks, though some exposure to stocks is likely still warranted for growth. It is important to remember that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that Separate Account investment funds and/or investment companies may charge.
  
  
• Effect of marriage status on retirement savings: Married couples have a higher maximum Social Security benefit than single wage earners. If you are married, this calculator takes the higher maximum social security benefit into account.