Retirement Calculator

Published on Oct 15, 2015 02:00 am

No one wants to think they could outlive their retirement savings, so it’s important to begin saving for retirement as early as possible in your working life. Our Retirement Savings Calculator can help you understand if you’re saving enough today to thank yourself tomorrow and achieve your retirement goals or if your current savings plan could be more aggressive.

Retirement Calculator Definitions

  • Current retirement savings — All the money you have already set aside in investments, savings and retirement accounts such as 401(k), IRA or other tax-exempt or tax-deferred retirement savings vehicles.
  • Expected inflation — How much is inflation expected to increase between now and the time you retire?
  • Number of years of retirement income — How many years do you expect to live after retiring? This can be a difficult and emotional calculation, and talking to a financial planner could help you better understand how many years you should save for.
  • Income replacement at retirement — How much of your highest annual salary do you think you will need in order to live in the style you want during retirement? Will you need a fraction of what you spend now, as much as you currently spend or more to support your intended lifestyle?
  • Pre-retirement investment return — How much do you expect to expect your investments to grow prior to retirement? Many people use 8% as an average.
  • Post-retirement investment return — After you retire, how much do you expect your investments to continue making? This number can help you predict your cash flow in retirement.

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    This article is provided for general guidance and information. It is not intended as, nor should it be construed to be, legal, financial or other professional advice. Please consult with your attorney or financial advisor to discuss any legal or financial issues involved with credit decisions.
    Published by permission from, Inc., an Experian company. © 2015, Inc. All rights reserved.

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