Simple Retirement Savings Calculator
This simple retirement calculator figures out how long until you reach your savings goal based on three factors: the amount of existing savings, the amount you add to your savings each month, and your expected annual interest rate. This calculator solves for time to reach your retirement savings goal while leaving dollars saved each month fixed.
If you would prefer to solve for how much money you need to save each month then try the Retirement Investment Calculator. Each calculator shows you a different way to reach your retirement savings goals while keeping the math simple.
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Retirement Savings Calculator Tips
Nobody wants to “retire”.
Instead, you want the freedom to do whatever you want, whenever you want, and with whomever you want… without the need to work for money.
That’s why the best time to start thinking about retirement is long before your planned retirement date. Early preparation gives you more time to plan options that will make your retirement years more comfortable. Use this retirement savings calculator to determine how much you need to save each month to be able to retire by a specified date so that you can live with the freedom you desire.
The Best Time To Retire
If you’re not sure when is the right time to retire, you’re not alone.
For some people, the progression toward retirement is natural. Your retirement date is predetermined and there is no question when you will stop working. For others, thinking about retirement gives you an edgy feeling and the decision is fraught with emotional difficulty. The decision can be made more difficult because there so many personal and financial factors involved. The following symptoms provide simple signposts letting you know when your retirement date is near:
Preparing For Retirement
Will your retirement transition be exciting or painful?
The answer to that question depends on your preparation. Sure, you know about saving for retirement and other financial issues, but have you considered the life planning questions?
Retirement can be a wonderful stage in your life if you prepare for it emotionally and financially. To fully enjoy your retirement years, start thinking about when and how you want to retire. Calculate how much savings you need, find additional ways to save for your future and start investing. This simple retirement saving calculator will teach you the easiest way to find out how much you need to save each month to reach your retirement goal.
How Much Do I Need For My Retirement?
Financial security in retirement doesn’t just happen. It takes planning and commitment and, most importantly, money. Knowing how much you should save for retirement is important. Some financial experts suggest saving at least 15% of your income, but the truth is the percentage of income required is a function of how long you will be saving and how early you started. Start small and try to increase the amount you save each month. The sooner you start saving, the more time your money has to grow. Make it a priority to save for your retirement. Remember, it’s never too early or too late to start saving.
Retirement Savings Terms and Definitions
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