Retirement Calculator — calculate retirement age
This calculator easily answers the question "Given the value of my current investments and assuming future monthly investments of "X", at what age will I reach my retirement goal?"
The user enters their "Current Age", the "Monthly Amount Invested",the "Annual Interest Rate (ROI)" (annualized Return on Investment one expects to earn) and "Amount Desired At Retirement".
The calculator quickly calculates the user's retirement age and creates an investment schedule plus a set of charts that will help the user see the relationship between the amount invested and the return on the investment. The schedule can be copied and pasted to Excel, if desired.
If you need a more advanced "Retirement Calculator" - one that calculates many more unknowns and one that calculates assuming retirement income and not a final lump sum then try the calculator located here: https://AccurateCalculators.com/retirement-calculator
Currency and Date Conventions
All calculators will remember your choice. You may also change it at any time.
Clicking "Save changes" will cause the calculator to reload. Your edits will be lost.
A retirement age calculator helps you estimate when you can retire based on various factors like your current age, desired retirement age, life expectancy, and savings. Here’s how to use one effectively:
Steps to Use a Retirement Age Calculator
- Input Your Current Age
- Enter how old you are now.
- Set Your Desired Retirement Age
- Specify the age at which you plan to retire.
- Estimate Life Expectancy
- Many calculators will have a default average life expectancy (often around 80-85 years). You can adjust this based on your family history and health.
- Enter Current Savings
- Input how much you have saved for retirement so far.
- Monthly Savings Contribution
- Specify how much you plan to save each month until retirement.
- Expected Annual Return Rate
- Enter an estimated annual return rate for your investments (often between 5% and 8% is used).
- Calculate
- Click on the “Calculate” button to see the results.
Results to Expect
- Projected Retirement Savings: The total amount you’ll have by your retirement age.
- Monthly Withdrawal Amount: How much you can withdraw each month during retirement.
- Retirement Duration: How many years your savings may last based on your withdrawal rate.
Example Scenario
- Current Age: 30
- Desired Retirement Age: 65
- Current Savings: $20,000
- Monthly Savings: $500
- Expected Return: 6%
Using a retirement calculator with these inputs will give you an idea of how much you can accumulate by retirement and how long your savings might last.
If you’d like, I can provide more tips on retirement planning or recommend specific calculators!