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Retirement Calculator

Related Article: How To Determine How Much You Need For Retirement

Step One: Figure how much you'll need in income per year during retirement.

How much annual income, in today's dollars, will your family need?
What inflation rate do you want to protect against? %
In how many years do you want to retire?
Result: You will need per year in retirement income during your first year of retirement.

Step Two: Calculate your non-investment income, including pension and Social Security Retirement Income.

  You   Spouse or Partner
Social Security Benefits (see Obtaining my PEBES offsite link) per month
Income from pension plans per month
Annuities per month
Other income per month
Income from work during "retirement" per month
Result: You will have per year.

Step Three: Figure out the amount of your shortfall and how much you will need in savings to meet it.

You will need per month additional income.
How long do you expect your retirement to last? years
What rate of return to do expect to earn from your investments during retirement?  
You will need savings for retirement, making up the shortfall from your savings.
You will need savings, spending only the income from your savings.

Step Four: Forecast the growth of your savings and investments.

What is your combined state and federal income tax bracket?
Where applicable, fill-in estimates for the first four columns. If you already completed and saved your Net Worth Statement, the amounts of those assets from your most recent version will appear here automatically.
Current Savings Amount Annual Return Current Additional Savings % Capital Gains Value at Retirement
Mutual Funds
Government Bonds  
Corporate Bonds  
Municipal Bonds  
Non-pension employer retirement plans  
Individual Retirement Accounts  

Your Results

You will have saved when you retire.
You will have more than you need when you retire, planning to spend down your assets.
You will have more than you need when you retire, using your assets for income only.
If you plan to spend down your assets, you could save less per month.
If you plan to use only the income from your assets, you could save less per month.