Retirement Planning Calculators

Retirement planning isn't a single decision—it's a series of choices about how much to save, which accounts to use, and when to retire. The complexity comes from competing priorities: taxes, employer matching, contribution limits, and the need to make your savings last decades. Our retirement planning calculators help you model different strategies, understand the impact of time and compound growth, and build a realistic path toward the financial independence you're aiming for.

Retirement Calculator

Calculate how much you need to save and whether you're on track to retire at your target age. Input your current savings, annual contributions, expected return, and retirement spending to see your projected portfolio balance and retirement readiness.

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401(k) Calculator

Model your 401(k) growth with employer matching. See how different contribution amounts and employer match percentages affect your balance at retirement. Understand the value of employer contributions and tax-deferred compounding over decades.

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Roth IRA Calculator

Project Roth IRA growth with tax-free withdrawals in retirement. Compare Roth accounts to Traditional IRAs and 401(k)s, and see how tax-free growth impacts your long-term wealth and retirement flexibility.

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Choosing the Right Retirement Strategy

The right retirement strategy depends on your income, tax bracket, and goals. Here's how the most common accounts compare:

401(k) plans are employer-sponsored and allow you to contribute up to $23,500 in 2024 (more if you're over 50). Many employers match your contributions dollar-for-dollar up to a certain percentage—this is essentially free money and should almost always be maximized first. Contributions reduce your taxable income, lowering your taxes this year, but you pay taxes on withdrawals in retirement.

Traditional IRAs work similarly: you deduct contributions now (reducing current taxes), investments grow tax-deferred, and you pay taxes on withdrawals in retirement. The 2024 contribution limit is $7,000 ($8,000 if over 50). These work well if you expect to be in a lower tax bracket in retirement, or if you're self-employed and want to reduce high self-employment income taxes.

Roth IRAs flip the tax treatment: you contribute after-tax dollars (no current deduction), but all growth is tax-free and withdrawals in retirement are tax-free. Roth accounts are powerful if you expect higher tax rates in the future, want tax-free retirement income, or want to pass tax-free wealth to heirs. High earners often use "Roth conversions" to shift savings into Roth accounts strategically.

Taxable brokerage accounts have no contribution limits or withdrawal restrictions but offer no tax advantages. They're ideal after you've maximized tax-advantaged accounts, and they provide flexibility for early retirement or large purchases before age 59½.

The practical strategy for most people: maximize employer 401(k) matching first, then contribute to a Roth IRA up to the limit, then go back to max out the 401(k), then contribute to a taxable account with remaining savings. This layering balances tax efficiency, flexibility, and employer match benefits.

Frequently Asked Questions

What is the 4% rule and why does it matter for retirement?
The 4% rule suggests you can safely withdraw 4% of your retirement savings in your first year of retirement, then adjust that amount for inflation in subsequent years. This strategy is designed to help your portfolio last at least 30 years. For example, a $1 million portfolio would provide $40,000 in first-year withdrawals. The rule is based on historical market returns and is a useful starting point, though individual situations vary based on life expectancy, spending needs, and market conditions.
Should I contribute to a 401(k), Traditional IRA, or Roth IRA?
The choice depends on your current tax bracket and expected retirement tax bracket. A 401(k) with employer match is almost always worth maxing out first—it's free money. Traditional IRAs and 401(k)s offer tax deductions now (good if you're in a high tax bracket today), while Roth accounts offer tax-free withdrawals in retirement (good if you expect higher tax brackets later). High earners often use a combination: max the 401(k), get the full employer match, then contribute to a Roth IRA. Our retirement calculator helps you model different scenarios.
How much do I need saved to retire?
A common rule of thumb is to have 25 times your annual spending saved (this gives you that 4% withdrawal rate). Another approach: calculate your annual retirement spending needs, then see if Social Security, pensions, and portfolio withdrawals cover it. The amount varies widely based on lifestyle, healthcare costs, and longevity. Our retirement calculator lets you input your specific spending goals, life expectancy, and savings rate to see if you're on track—and shows what changes (more savings, later retirement, less spending) would help you reach your goal.

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