Plan your retirement savings and estimate your future income
Input your current age, retirement age, and current savings.
Define monthly contributions, expected returns, and desired income.
See your retirement savings projection and adjust as needed.
Every year delayed requires significantly more savings. Start as early as possible to leverage compound interest.
Failing to account for inflation can leave you with insufficient purchasing power in retirement.
Not contributing enough to get full employer match is leaving free money on the table.
Healthcare expenses in retirement can be substantial. Plan for Medicare gaps and long-term care.
Early withdrawals face penalties and taxes, plus lose compound growth potential.
While stability is important, being too conservative early on can limit growth potential.
Start Early: The power of compound interest means starting even 5 years earlier can dramatically increase your retirement savings.
Maximize Employer Match: If your employer offers a 401(k) match, contribute at least enough to get the full match - it's free money.
Diversify Investments: Don't put all eggs in one basket. A mix of stocks, bonds, and other assets can reduce risk.
Account for Inflation: Your retirement income needs to keep pace with inflation to maintain your purchasing power.
Plan for Healthcare: Medical expenses can be significant in retirement. Consider HSAs and long-term care insurance.