Retirement Calculator
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Planning for Retirement
Retirement planning is one of the most important financial exercises you can do. The earlier you start, the less you need to save each month thanks to compound interest. This calculator shows you how your current savings plan will grow over time and what kind of income you can expect in retirement.
The monthly income estimate uses the 4% safe withdrawal rate, which is based on the Trinity Study. This research found that withdrawing 4% of your portfolio in the first year of retirement (and adjusting for inflation each subsequent year) gives you a very high probability of your money lasting at least 30 years.
Key factors that affect your retirement outcome include when you start saving, how much you contribute, and your investment returns. Increasing your monthly contribution by even a small amount can make a significant difference over decades. For example, an extra $200 per month over 35 years at 7% returns adds over $400,000 to your retirement fund.
Do not forget to account for inflation. While investments grow, the purchasing power of money decreases over time. Using a return rate of 7% (roughly the historical stock market average minus inflation) gives you results in today's dollars, making it easier to understand what your future savings will actually be worth.
Planning for Retirement
Retirement planning is one of the most important financial exercises you can do. The earlier you start, the less you need to save each month thanks to compound interest. This calculator shows you how your current savings plan will grow over time and what kind of income you can expect in retirement.
The monthly income estimate uses the 4% safe withdrawal rate, which is based on the Trinity Study. This research found that withdrawing 4% of your portfolio in the first year of retirement (and adjusting for inflation each subsequent year) gives you a very high probability of your money lasting at least 30 years.
Key factors that affect your retirement outcome include when you start saving, how much you contribute, and your investment returns. Increasing your monthly contribution by even a small amount can make a significant difference over decades. For example, an extra $200 per month over 35 years at 7% returns adds over $400,000 to your retirement fund.
Do not forget to account for inflation. While investments grow, the purchasing power of money decreases over time. Using a return rate of 7% (roughly the historical stock market average minus inflation) gives you results in today's dollars, making it easier to understand what your future savings will actually be worth.
Investments are risky, but treating what a random guy on the internet says as financial advice is riskier. Do your own research. This is for educational purposes only.