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Retirement Calculator

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How much do you need to save each year to reach your retirement income goal.  This retirement calculator is just a simple calculator that you input how much you already saved, how much you want to have when you reach retirement stage in your life, then it will show you how much you need to save each year to reach that goal.

RETIREMENT DEFINITION:

1. The action or fact of leaving one’s job and ceasing to work.

2. The period of one’s life after leaving one’s job and ceasing to work.

RETIREMENT FORMULA:

Savings per Year = (Desired savings – current savings) / Years until retirement

Note: This assumes that you are not earning interest on your savings. Positive returns will decrease the amount you need to save.

CALCULATE RETIREMENT:

Try out our retirement calculator above now!

[sws_red_box box_size="460"] Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot guarantee their applicability or accuracy in regard to your individual circumstances. All results are for illustrative purposes. We encourage you to seek personal financial advice from qualified professionals. [/sws_red_box]

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About the Author

Rhonda Evans

Rhonda is the founder and editor of MoneyPoint Live. She is a retired Senior Chief from the USN, mother of two, previous small business owner, and entrepreneur.

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