Retirement Savings Calculator: How Much Do I Need to Retire?
Our exclusive Retirement Savings Calculator will help you estimate the future value of your retirement savings and determine how much more you need to save each month to reach your retirement goal.
It's an important question that workers grapple with all the time -- how much do I need to save for retirement?
This retirement savings calculator can help you estimate what your retirement savings will be worth in the future. It will also help you determine how much more you need to save each month to meet your retirement goal.
Source: Henry "Bud" Hebeler of AnalyzeNow.com
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Be aware that the calculator does not take taxes on your retirement income into account so your spendable income will be less. The actual results will also depend on how much you contribute to your retirement accounts, how long you live and the returns on your investments.
To better save for retirement, think through all of your options, such as contributing to a 401(k), 403(b), a traditional IRA or a Roth IRA. Different accounts may have different fees that can eat into returns in addition to different tax implications. And you should consider whether you will be required to take minimum distributions once you hit age 72. Roth IRAs don’t have RMDs but traditional IRAs and other retirement accounts do.
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
-
After Decades of Promise, the Virtual Reality Era Has Finally Arrived
The Kiplinger Letter VR is a paradigm shift for consumer technology. The tech has a long road ahead, but amazing hardware already puts the huge potential on full display.
By John Miley Published
-
Fed Rate Cuts Still on Hold
The Kiplinger Letter With inflation stubbornly elevated, the Federal Reserve will keep interest rates high for now.
By David Payne Published
-
Taxes on Retirees: A State by State Guide
Retirement Taxes See how each state treats retirees when it comes to income, sales, property and other taxes.
By Katelyn Washington Last updated
-
What's My Social Security Full Retirement Age?
social security The year you were born determines when you become eligible for your Social Security full retirement age benefit. Use our calculator to determine your full retirement age.
By Jackie Stewart Last updated
-
Calculate Your Required Minimum Distribution From IRAs
required minimum distributions (RMDs) The IRS updated the uniform lifetime table, which is used to determine your mandatory withdrawals, this year. This tool can calculate your RMDs from a traditional IRA.
By Jackie Stewart Published