Retirement Earnings Calculator

Pay before tax, over the same period as the contributions below.
What you put in over the same period as the gross income above. The savings rate is the ratio of the two.
Matched dollar for dollar up to this share of pay, so the match never exceeds your own contribution.
Raises the contribution once a year, for example with a pay rise.
Usually lower than the pre-retirement return because the portfolio is more conservative.
Bengen's 4% rule: the share of the balance drawn in the first year of retirement.
The share of pre-retirement gross income the household wants to live on.
In today's money. Take the figure from your own Social Security statement; it is inflated to the retirement date alongside everything else.
Applied to withdrawals from pre-tax accounts, and to the growth share of withdrawals from a taxable account. Roth withdrawals are treated as tax free.
Which year of IRS dollar limitations to check the contributions against.
First-year income at the withdrawal rate
34,720.32
Retirement Savings Calculator
Savings rate
10.0000 %
Balance at retirement
868,008.00
Balance in today's money
393,876.47
Total contributed
192,000.00
Employer match over the term
0.00
Investment growth
626,008.00
Years to retirement
32 years
Level income that exactly exhausts the balance
-50,196.99
Retirement income after tax
34,720.32
Total retirement income including benefits
34,720.32
Income target at retirement
105,780.33
Annual shortfall against the target
71,060.01
Share of the target income covered
32.82 %
Balance needed for the target income
1,829,157.04
Shortfall against the balance needed
961,149.04
Years the balance lasts at the target spend
10.14 years
Contribution limit for this account
24,500.00
Worked out from Retirement savings rate, rate = 100 * contributions / gross income and 3 other sources.
Every figure here follows from the return, inflation and longevity assumptions you entered. Real markets do not deliver a fixed return.
Withdrawals from a pre-tax account are taxable income. A tax rate of 0% overstates the income this balance supports.
At the target spend the balance runs out after about 10.1 years, short of the 30 years asked for.
This is a projection from assumptions you supplied, not financial or tax advice. Contribution limits, tax treatment and Social Security depend on facts this tool does not see; check them with a qualified adviser and against current IRS guidance.

How this is worked out

6 steps
  1. Savings rate = 100 * 6000 / 60000 = 10%.
  2. Years to retirement = 67 - 35 = 32.
  3. Balance = 50000 * (1 + 0.06)^32 plus 6000 a year compounded to 868008.
  4. In today's money that is 868008 / (1 + 0.025)^32 = 393876.47.
  5. Drawing 4% in the first year gives 34720.32; spreading the balance evenly over 30 years at 4% gives -50196.99 a year.
  6. Income target at retirement = 60000 * 80% inflated for 32 years = 105780.33.
Year-by-year balancetable
yearagecontributionsgrowthbalance
1366,0003,00059,000
2376,0003,54068,540
3386,0004,112.478,652.4
4396,0004,719.1489,371.54
5406,0005,362.29100,733.84
6416,0006,044.03112,777.87
7426,0006,766.67125,544.54
8436,0007,532.67139,077.21
9446,0008,344.63153,421.84
10456,0009,205.31168,627.15
11466,00010,117.63184,744.78
12476,00011,084.69201,829.47
13486,00012,109.77219,939.24
14496,00013,196.35239,135.59
15506,00014,348.14259,483.73
16516,00015,569.02281,052.75
17526,00016,863.17303,915.92
18536,00018,234.96328,150.87
19546,00019,689.05353,839.93
20556,00021,230.4381,070.32
21566,00022,864.22409,934.54
22576,00024,596.07440,530.61
23586,00026,431.84472,962.45
24596,00028,377.75507,340.2
25606,00030,440.41543,780.61
26616,00032,626.84582,407.44
27626,00034,944.45623,351.89
28636,00037,401.11666,753
29646,00040,005.18712,758.18
30656,00042,765.49761,523.68
31666,00045,691.42813,215.1
32676,00048,792.91868,008

Results are general information, not financial, tax, legal, medical or engineering advice.