Why This Is Different From Regular Saving
Retirement isn't a bigger emergency fund — it's replacing your paycheck for decades without one. Two things make it solvable: starting early, and knowing your target.
Almost every retirement question boils down to two things: how much do I need saved, and am I on pace to get there. The tools below answer both. Everything else — Social Security, RMDs, withdrawal rates — just refines the numbers.
Retirement savings compound for decades, so early years matter disproportionately. Someone investing $300/month starting at 25 will out-save someone investing the same amount starting at 35 — even though the late starter invests for just as many total years before a typical retirement age.
| Starts at | Monthly | Years invested (to 65) | At 7% avg return |
|---|---|---|---|
| 25 | $300 | 40 | ~$720,000 |
| 35 | $300 | 30 | ~$340,000 |
| 45 | $300 | 20 | ~$147,000 |
If you're starting later, it's not too late — it just means the monthly number needs to be bigger. The projector below will show you exactly how much.
Your Retirement Number
The most common rule of thumb for a safe withdrawal rate is 4% per year. Working backward, that means you need about 25 times your annual spending saved before you can safely live off your portfolio.
How much do you need saved?
Enter what you expect to spend per year in retirement (in today's dollars). If you'll get Social Security, subtract it first — that income covers part of your spending without touching savings.
Are You On Track?
See where your current savings and contributions put you by retirement age — and how much more you'd need to contribute to close any gap.
Retirement Savings Projector
Adjust any field — your projection updates instantly. Enter your target above first for a gap comparison.
Social Security Basics
Social Security replaces roughly 40% of pre-retirement income for the average earner — a foundation, not a full plan.
The Social Security Administration averages your highest 35 years of earnings (adjusted for wage growth), then applies a formula that pays lower earners a higher percentage of their past income than higher earners. Working fewer than 35 years means zeros get averaged in, which lowers your benefit — one reason career gaps matter.
You can claim as early as 62, but your monthly benefit is permanently reduced. Waiting until your full retirement age (66–67, depending on birth year) gets you 100% of your calculated benefit. Waiting all the way to 70 adds roughly 8% per year on top — the largest guaranteed return available to most retirees.
| Claim at | Benefit vs. full amount |
|---|---|
| 62 (earliest) | ~70% |
| 66–67 (full retirement age) | 100% |
| 70 (latest, maximum) | ~124–132% |
Withdrawing Safely
Saving is only half the plan — spending it down without running out matters just as much.
The 4% rule says you can withdraw 4% of your portfolio in year one of retirement, then adjust that dollar amount for inflation every year after, with a low historical risk of running out of money over 30 years.
Traditional 401(k)s and IRAs require you to start withdrawing a minimum amount starting at age 73 (as of current law), whether you need the money or not — the IRS eventually wants its tax revenue. Roth IRAs have no RMDs during your lifetime, which is one reason many people hold some retirement savings in Roth accounts.
A common approach, in order: 1) taxable brokerage accounts first (lower tax rates on long-term gains), 2) traditional 401(k)/IRA next (taxed as income), 3) Roth accounts last (tax-free, and no RMDs — let them keep growing). Everyone's tax situation differs; this is a starting framework, not universal advice.