Retirement Age Calculator

Use this retirement age calculator to explore when projected savings may support desired monthly retirement expenses. It combines current age, current savings, income, expenses, monthly savings, expected return, inflation, retirement expenses, and risk tolerance.

How to use this calculator

Enter your current age, current savings, monthly income, monthly expenses, monthly savings, expected return rate, inflation rate, desired monthly retirement expenses, and risk tolerance. The calculator returns estimated retirement age, required monthly savings, total savings needed, annual retirement income, retirement readiness, and savings milestones.

How it works

The calculator estimates retirement spending, subtracts a simplified assumed Social Security benefit, and divides the remaining need by a safe withdrawal rate. It then projects savings forward using a real return rate adjusted for inflation.

$real\ return = (1 + nominal\ return) \div (1 + inflation) - 1$

Worked example

With age 30, 50,000 dollars saved, 5,000 dollars monthly income, 3,000 dollars monthly expenses, 1,000 dollars monthly savings, 7 percent expected return, 2.5 percent inflation, and 4,000 dollars desired monthly retirement expenses, the estimate is roughly age 59.

Use the result carefully

This is a simplified model. Compare with the pension calculator, social security retirement calculator, and savings goal calculator. For day-to-day planning, the budget calculator can help test monthly savings assumptions.