How much do I need to retire?

Enter what you plan to spend in retirement and any Social Security or pension. See the savings target, what you're on course for, and the extra monthly saving that would close any gap. This page sets the target; the retirement calculator projects your savings year by year.

By the Calcist team · Checked against known answers · Updated October 27, 2026

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Next: Want to test your number against bad markets? Run it through the retirement withdrawal calculator. Retiring early? Try the FIRE calculator.

How it's calculated

Your savings only have to cover the part of your spending that other income doesn't. Divide that by your withdrawal rate:

Target = (yearly spending − other income) ÷ withdrawal rate

If other income starts after you retire, you also need a bridge: the other income amount for each year of the gap. Calcist keeps this simple and assumes the bridge money just keeps pace with inflation. Then it projects your savings, with deposits at the end of each month and the yearly return converted to a monthly rate:

Savings at retirement = S(1 + i)ⁿ + M × ((1 + i)ⁿ − 1) ÷ i i = (1 + r)^1/12 − 1

To compare like with like, the target is grown by inflation to the year you retire, or your projected savings are divided by the same inflation factor to show them in today's dollars.

Worked example

You're 35, want to retire at 65 and spend $60,000 a year in today's money. Social Security of $24,000 starts at 65. Savings must cover $36,000, so at 4% the target is 36,000 ÷ 0.04 = $900,000 in today's dollars. At 3% inflation that's $900,000 × 1.03³⁰ = $2,184,536 in 30 years. With $50,000 saved and $1,000 a month at 7%, you'd have about $1,550,065, or $638,606 in today's money: 71% of the target. Saving $542.54 more a month would close the gap.

Where the 4% rule comes from

In 1994 financial planner William Bengen tested US stock and bond returns going back to 1926. He asked how much a retiree could take in the first year, then raise each year for inflation, without running out over 30 years in any period he tested. With half to three-quarters in stocks, the answer was about 4%. In 1998 three Trinity University professors (Cooley, Hubbard and Walz) ran a similar test, often called the Trinity study, and reported success rates for different withdrawal rates, time spans and stock/bond mixes.

Dividing spending by 4% is the same as multiplying it by 25. A 3.5% rate means about 28.6×, and 3% means about 33×.

Limits of the 4% rule

It's based on past US returns, one of the strongest markets in history. Future returns may be lower.
It was tested over 30 years. Retiring at 45 might need the money to last 50 years, which points to a lower rate.
It ignores fees and taxes. A 1% yearly fee takes a large bite out of a 4% withdrawal.
It assumes you never cut spending. In practice people who trim spending after a bad year can usually start higher.

Limitations

Spending is rarely flat. Many people spend more early in retirement and more on health care later.
Taxes aren't included. If most of your savings are in a traditional 401(k) or IRA, withdrawals are taxed, so include the tax in your spending.
Returns are steady here. Real markets aren't. Use the retirement withdrawal calculator to see how the order of good and bad years matters.
For your Social Security figure, check your own estimate at ssa.gov or use the Social Security calculator.

A planning estimate, not financial, tax or investment advice. Every assumption is listed under the result.

Sources

How we checked this

Before every update, this calculator is run in a real browser with these known answers, and it must match all of them:

$60,000 spending minus $24,000 Social Security at 4% needs $900,000 ✓
…which is $2,184,536 in 30 years at 3% inflation ✓
$50,000 + $1,000 a month at 7% leaves a gap closed by $542.54 more a month ✓
Social Security starting 2 years after retiring adds a $48,000 bridge: $948,000 ✓
0% return and inflation: $500 a month for 25 years is 12% of $1,250,000 ✓
The default form reproduces the worked example: $900,000 ✓
Other income that covers all spending needs no savings ✓

Last checked October 26, 2026. Spotted something wrong? The math is done in your browser with the formula shown on this page, so you can check any result by hand.

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Questions people ask

How much do I need to retire?

A common starting point is 25 times the yearly spending your savings must cover, which is the 4% rule. If you'll spend $60,000 and get $24,000 from Social Security, that's 25 × $36,000 = $900,000 in today's dollars.

Is $1 million enough to retire?

At a 4% withdrawal rate, $1 million supports about $40,000 a year, rising with inflation, on top of Social Security or a pension. Whether that's enough depends on your spending, your other income and how long you need it to last.

What withdrawal rate should I use?

4% is the classic figure from Bengen's tests of 30-year retirements. A lower rate, such as 3% to 3.5%, builds in a bigger cushion for a longer retirement or a weaker market; a higher one assumes a shorter retirement or flexible spending.

Should I use today's dollars or future dollars?

Today's dollars are easier to judge, because you know what $60,000 buys now. Future dollars are what your account statement will show. This calculator shows both.

Why does other income starting late raise the target?

Until Social Security or a pension begins, your savings pay for everything. The extra covers those years, so the 4% withdrawals only have to cover the gap after the income starts.

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