Retirement Calculator
Plan your retirement and see if you are on track. Calculate how much you need to save, how your investments will grow, and when you can retire comfortably.
How Much Do You Need to Retire in 2026?
The traditional rule of thumb suggests you need 25x your annual expenses saved to retire comfortably (the 4% rule). In 2026, that means:
- Annual expenses $40,000 → Need $1,000,000 saved
- Annual expenses $60,000 → Need $1,500,000 saved
- Annual expenses $80,000 → Need $2,000,000 saved
- Annual expenses $100,000 → Need $2,500,000 saved
However, with inflation at 3% and healthcare costs rising, many financial planners now recommend 30x annual expenses for a comfortable margin.
2026 Retirement Account Contribution Limits
- 401(k): $23,500/year ($31,000 if age 50+)
- IRA: $7,000/year ($8,000 if age 50+)
- Roth IRA: Same limits as traditional IRA; income limits: $161K (single) / $240K (married)
- HSA: $4,300/year (single) / $8,550/year (family) — triple tax advantage
Social Security in 2026: What to Expect
- Average monthly benefit: $1,920 ($23,040/year)
- Maximum benefit at full retirement age: $3,822/month
- Full retirement age: 67 for those born 1960+
- Claiming at 62: Benefits reduced by ~30%
- Claiming at 70: Benefits increased by ~24% vs full retirement age
- Key strategy: If you can afford to wait, delaying from 62 to 70 increases monthly benefit by ~77%
Retirement Savings by Age — Are You on Track?
- Age 30: 1x annual salary saved
- Age 40: 3x annual salary saved
- Age 50: 6x annual salary saved
- Age 60: 8x annual salary saved
- Age 67: 10x annual salary saved
These are Fidelity benchmarks. If you're behind, don't panic — increase contributions by 1% each year and maximize any employer match.
5 Common Retirement Mistakes
- 1. Not getting the full 401(k) match — Leaving free money on the table ($1,500-5,000/year average match)
- 2. Being too conservative — At age 30, you need growth (stocks), not just bonds
- 3. Cashing out when changing jobs — Rolling over preserves tax advantages and avoids 10% penalty
- 4. Underestimating healthcare costs — Fidelity estimates $315K for healthcare in retirement (couple)
- 5. Ignoring inflation — $1M today has the purchasing power of ~$550K in 20 years at 3% inflation
Frequently Asked Questions
How much do I need to retire?
A common rule is to save 25× your annual expenses (based on the 4% safe withdrawal rate). If you spend $50,000/year, you need ~$1.25 million. Adjust based on your expected retirement lifestyle, healthcare costs, and Social Security benefits.
How much should I contribute to my 401(k)?
Contribute at least enough to get your full employer match (it's free money!). After that, max out a Roth IRA ($7,000/year in 2024). Then maximize 401(k) ($23,000/year limit). Aim to save 15-20% of your income total.
What is the 4% rule?
The 4% rule suggests you can withdraw 4% of your portfolio in year one of retirement, then adjust for inflation. This historically gave retirees a 30-year fund. Many experts now suggest 3.3-3.5% for greater safety given longer lifespans.
When should I start saving for retirement?
Start as early as possible! Starting at 25 vs 35 to reach $1M by 65: starting at 25 requires ~$300/month; starting at 35 requires ~$700/month. Time in the market beats timing the market.
What about Social Security?
Social Security replaces about 40% of pre-retirement income for average earners. The optimal claiming age depends on your health, financial needs, and spouse's benefits. Claiming at 70 maximizes benefits (8% increase/year after full retirement age).