Retirement Planning

Retirement planning is one of the most important financial undertakings of your life — and one of the most complex. How much should you save? Which accounts should you use? When should you start Social Security? How fast can you withdraw without running out? Our free retirement calculators give you the precise, personalized answers to these questions using standard financial formulas and current IRS rules. No sign-up required, and all calculations run locally in your browser.

Whether you're 25 and just starting your career or 65 and planning your first year of retirement, these tools help you make data-driven decisions about your financial future.

Start with the Retirement Savings Calculator to see the power of compound interest over 30-40 years. The 401(k) Calculator shows how employer matching amplifies your savings. The Roth vs. Traditional IRA Comparison helps you choose the right account type while you're in a lower tax bracket.

Use the Social Security Estimator to plan your claiming strategy. The Retirement Withdrawal Calculator reveals whether your savings are sufficient for a 30-year retirement. The 401(k) Calculator helps you model catch-up contributions to close any savings gaps.

The RMD Calculator ensures you take the correct required minimum distribution to avoid IRS penalties. The Retirement Withdrawal Calculator helps you optimize your spending rate. The Social Security Estimator helps if you haven't claimed yet and are deciding between ages.

Most retirement projections are based on the compound interest formula: FV = PV(1+r)n + PMT × [(1+r)n − 1]/r, where PV is your current savings, PMT is your periodic contribution, r is the periodic return rate, and n is the number of periods. This formula shows that time in the market (n) is the most powerful variable — doubling your investment period more than doubles your outcome due to the exponential nature of compounding.

Withdrawal calculations work in reverse: subtracting inflation-adjusted withdrawals each year while the remaining balance continues to earn returns. Social Security uses a different approach — a progressive formula based on lifetime earnings with claiming-age adjustments — modeled on IRS/SSA published formulas.

401(k) is an employer-sponsored tax-deferred retirement plan with contribution limits and potential employer matching. IRA (Individual Retirement Account) is a personal retirement savings account available in Traditional (tax-deductible contributions, taxable withdrawals) and Roth (after-tax contributions, tax-free withdrawals) variants. AIME (Average Indexed Monthly Earnings) is the basis for Social Security benefit calculation. PIA (Primary Insurance Amount) is your full Social Security benefit at Full Retirement Age. RMD (Required Minimum Distribution) is the mandatory annual withdrawal from tax-deferred accounts starting at age 73. The 4% Rule is a withdrawal guideline suggesting you can safely withdraw 4% of your portfolio in year one, adjusting for inflation thereafter.

As early as possible. Thanks to compound interest, every year you delay costs you disproportionately. Starting at 25 with $500/month at 7% return yields about $1.37M by 65. Starting at 35 yields $680K — roughly half — despite only contributing $60,000 less. Even small contributions in your 20s create a powerful foundation for compound growth.

A common target is 10-12 times your final annual salary. Under the 4% rule, a $1M portfolio generates approximately $40,000/year in retirement income. Add Social Security benefits (average $1,900/month in 2024) and the total may be $62,800/year. Whether that's "comfortable" depends on your location, lifestyle, healthcare needs, and whether your home is paid off. Use our calculators to model your specific situation.

Priority order: (1) Contribute enough to your 401(k) to get the full employer match — it's an instant 50-100% return. (2) Max out a Roth IRA if eligible ($7,000/year). (3) Go back and increase your 401(k) contribution toward the maximum ($23,500/year). (4) If you've maxed both, consider a taxable brokerage account or backdoor Roth strategy. The 401(k) match is free money and should always come first.

It depends on your health, other income, and financial needs. Claiming at 62 gives you smaller payments for more years. Waiting until 70 maximizes your monthly benefit (up to 77% more than at 62). The break-even age is typically 78-82 — if you live past that, delaying was the right call. For married couples, the higher earner often benefits most from waiting, as the surviving spouse inherits the higher benefit amount.

Tax diversification is key. Traditional 401(k)/IRA contributions save you taxes now but create taxable income in retirement. Roth accounts cost more now but provide tax-free income later. Having both types gives you flexibility to manage your tax bracket year by year in retirement — pulling from Traditional accounts up to a tax bracket ceiling, then using Roth for anything above. Our Roth vs. Traditional IRA calculator helps you model these trade-offs.