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Combo Retirement Calculator

Enter all but one of the fields below,
then press the button next to the field to calculate.
How many years until you retire? 
Number of Years in Retirement 
Average Annual Interest Rate You Can Earn (while retired)
Average Annual Inflation Rate  %
How much do you need to live on annually? (in today's $)$
In total, how much will you have or need at the time you retire?  $
Do you want to have any money left?
If much?
Adjust for inflation

To view the schedule, all input fields must contain a value.

  • Subtract any other income (in today's $ - Social Security, annuity, pension etc..) that you'll receive from the amount on which you'll need to live.
  • The amount that you need to live on should include taxes.
  • Withdrawals are made at the beginning of the year.

This is a good calculator to use if you want to try different "what if" scenarios.

  1. Joe and Sue are going to retire in 5 years. They've been saving for years and will have accumulated $1.2 million dollars by the time they retire. They can earn appoximately 8% per year by investing in the stock and bond markets. Now they want to know how much they can withdraw each year in retirement.
    Using the calculator, enter:
    • 5 for years until retirement.
    • 35 for years in retirement.
    • 8 for Interest Rate (Compounded Annually)
    • 3 for Inflation Rate They'd like their withdrawal amount to increase each year by 3%.
    • Leave the next field alone. That's the one they'll be solving.
    • 1200000 (or 1,200,000) for the amount saved.
    • 0 for the amount left.
    • Press the How Much button. It will show 59,186.81 (in today's $)
    • Now press the View Schedule button. You'll see that they can spend $68,613.73 in 2024
      or $59,186.81 in today's $
      . You will also see that their withdrawal amount increases by 3% each year to adjust for inflation as per the input.
  1. Using the example above... Sue says their annual income is about $45,000.00 now. They both think that $59,186.81 is way too much. Maybe they can retire earlier? They'd like to see how much $ they'll need if they retire in 2 years. Here's what to do -
    • change the years until retirement to 2
    • leave the Number of Years in Retirement at 35
    • leave the Annual Interest Rate earned field at 8 (compounded Annually)
    • leave the Annual Inflation Rate field at 3
    • change the annual living expense to 45,000
    • leave the total amount they have field blank.
    • Press the Total button. It will show they need $834,943.68 when they retire. They'll have that, so all is well!!
    • Now press the View Schedule button.
      In 2 years they'll be able to spend $47,740.50 and that amount will increase each year by 3%. YEAH!!!

      So they decide to retire in 2 years.

When you find out how much you'll need to save for retirement, use my Savings Calculator to see how to get it.

On the Savings Calculator you will enter:
  1. The $ amount needed at retirement in the Future Value box.
  2. How much you've already saved in the Present Value box
  3. The number of years until you retire in the Number of Years box
  4. ...and the annual rate that you think you can earn in the Rate box
  5. Press the Contribution button and it will tell you how much you need to invest each period (weekly, biweekly, monthly, quarterly, semi-annually or annually depending on which is selected). You can change the period by selecting another period and pressing the Contribution button again.
    • No need to adjust that value for inflation, this Retirement Calculator has already done that for you.
Be sure to review your plan periodically or as requirements change!


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