How much do I need to retire at 55 ?
The savings you'd need today to make it hold up. Adjust the inputs and it updates.
You already have , enough for at this confidence. Your odds on today's savings are %.
You have now, and the plan needs in total, in today's dollars. Your odds on today's savings are %.
That total is what you'd need saved right now. It keeps growing on its own before you retire, and saving more each year lowers it. Because there's one less year for it to grow, the figure climbs over time, so it will read higher if you check back next year.
At this spending and age, no realistic nest egg reaches % confidence. Trimming spending or retiring later moves it, which "Can I retire at ?" prices out.
Why this calculator exists
"How much do I need to retire?" usually gets answered with a flat multiple of spending, 25 times, and nothing else. That ignores your other income, the saving you will do between now and retirement, and the risk that a rough first few years sinks a plan that looked fine on average. This one runs your actual plan through 500 possible futures and finds the savings that hold up often enough.
How the number is found
We search for the smallest savings balance that lasts to your planning age in at least 80% of 500 simulated market histories, at the retirement age you choose. It is the amount you would need today, given the rate you are already saving, so it already reflects the growth and contributions between now and retirement.
Everything is in today's dollars. The return you pick is a real return, meaning after inflation. Social Security or other income is counted only from the age it starts, so it lowers the savings you need once it begins.
Rather than planning to average life expectancy, which is close to a coin flip on longevity, we plan through the age you have only a 10% chance of outliving, using the Social Security Administration 2020 life table. The 4% rule (about 25 times spending) is a familiar baseline, but the figure here comes from the simulation, with your income and savings folded in.
Short of the number? It is a lump sum in today's dollars, so saving more each year closes it over time. To price a specific extra-savings plan, or a different age, open "Can I retire at X?".
Common questions
How do you work out the number I need? +
We search for the smallest savings balance that, run through 500 simulated market histories, lasts to your planning age in at least 80% of them, at the retirement age you pick. It is the amount you would need today, given the rate you are already saving, not a rule-of-thumb multiple.
Is this the nest egg at retirement or what I need today? +
It is what you would need saved today. Because it already counts the years of saving and growth between now and your retirement age, it is usually smaller than the balance you will actually retire with. If you have less than the figure, that is your gap in today's dollars.
How is this different from the 4% rule number? +
The 4% rule says you need about 25 times your spending. That ignores your other income, your saving between now and retirement, and the risk that a bad early market sinks an average-looking plan. This runs the actual simulation with your income and savings, so the figure reflects your plan, not a flat multiple.
What return does this assume? +
It uses a real return, meaning after inflation, of 5%. That is a common middle-of-the-road figure for a diversified portfolio; more cautious planners use 3 to 4%.
Does spending include healthcare? +
Yes. Enter your total yearly spending with healthcare inside it. If you retire before 65, that includes buying your own coverage until Medicare starts, which is often one of the largest early-retirement costs.
Is this financial advice? +
No. This is a free educational tool to help you think through retirement, not advice about your specific situation. Talk to a qualified financial planner before you make any big decisions.