Free Retirement Calculator

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Free Retirement Calculator

Retirement Projection

Total Nest Egg: $0.00
Value in Today's Dollars: $0.00
Est. Monthly Retirement Income: $0.00

*Monthly income calculated using the 4% annual withdrawal rule.

function calculateRetirement() { var currAge = parseFloat(document.getElementById('currAge').value); var retAge = parseFloat(document.getElementById('retAge').value); var currSavings = parseFloat(document.getElementById('currSavings').value); var monthlySave = parseFloat(document.getElementById('monthlySave').value); var annualReturn = parseFloat(document.getElementById('annualReturn').value) / 100; var inflationRate = parseFloat(document.getElementById('inflationRate').value) / 100; if (isNaN(currAge) || isNaN(retAge) || isNaN(currSavings) || isNaN(monthlySave) || isNaN(annualReturn) || isNaN(inflationRate)) { alert('Please fill in all fields with valid numbers.'); return; } var years = retAge – currAge; if (years 0) { fvContributions = monthlySave * ((Math.pow((1 + monthlyRate), months) – 1) / monthlyRate); } else { fvContributions = monthlySave * months; } var totalNestEgg = fvCurrent + fvContributions; // Adjust for inflation (Today's dollars): PV = FV / (1 + i)^n var adjustedValue = totalNestEgg / Math.pow((1 + inflationRate), years); // Estimated Monthly Income (4% rule) var annualWithdrawal = totalNestEgg * 0.04; var monthlyIncome = annualWithdrawal / 12; document.getElementById('totalNestEgg').innerText = '$' + totalNestEgg.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('inflationAdjusted').innerText = '$' + adjustedValue.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('monthlyIncome').innerText = '$' + monthlyIncome.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}); document.getElementById('retResult').style.display = 'block'; }

Understanding Your Retirement Calculation

Planning for retirement is one of the most significant financial tasks you will ever undertake. This free retirement calculator helps you visualize the power of compound interest and the impact of inflation over time. By inputting your current age, savings habits, and expected market returns, you can estimate if you are on track to meet your financial goals.

The Importance of Inflation

A million dollars today will not have the same purchasing power in 30 years. That is why our calculator includes an Inflation Rate field. The "Value in Today's Dollars" result shows you what your future nest egg would buy in today's economy, helping you set more realistic targets for your lifestyle needs.

Practical Example

Consider a 30-year-old individual who currently has $10,000 saved and contributes $500 every month. If they expect a 7% annual return and retire at age 65:

  • Total Nest Egg: Approximately $953,000 at age 65.
  • Inflation Adjusted: If inflation averages 2.5%, that $953,000 will feel like roughly $401,000 in today's purchasing power.
  • Monthly Income: Using the 4% rule, this provides about $3,170 per month in retirement.

How to Improve Your Outlook

If the results show a shortfall, you have three primary levers to adjust:

  1. Increase Monthly Savings: Even an extra $100 a month can result in tens of thousands more due to compounding.
  2. Delay Retirement: Working just two or three years longer allows your portfolio more time to grow while reducing the number of years you need to draw from it.
  3. Optimize Returns: Reviewing your investment strategy to ensure your asset allocation matches your risk tolerance and growth goals.

Disclaimer: This calculator is for educational purposes only. Financial markets are volatile, and actual results may vary based on specific investment choices and economic shifts.

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