How much do I need to save for retirement?

The most common rule is the 4% rule: multiply your desired annual retirement income by 25. To spend $60,000/year in retirement, you need $1.5M saved. Fidelity recommends having 10× your final salary saved by age 67.

How much should I save per month for retirement?

Financial advisors recommend saving 15% of your gross income for retirement (including employer match). If you start at 25, 15% is usually enough. Starting at 35 may require 20–25%. Starting at 45 may require 30%+ to catch up.

What is the best retirement savings account?

401(k) with employer match first (free money), then Roth IRA ($7,000/year limit in 2024), then back to 401(k) up to the $23,000 limit. Roth accounts are tax-free in retirement — ideal if you expect higher taxes later.

What rate of return should I use for retirement planning?

Most financial planners use 6–7% as a conservative real return (after inflation) for a diversified stock/bond portfolio. The S&P 500 has historically returned ~10% nominal, ~7% inflation-adjusted. Use 6% for conservative planning, 8% for moderate.

Retirement Planning

Savings Calculator for Retirement: How Much Do You Need to Retire?

The most important financial question you'll ever answer: how much do I need to retire? This guide uses the 4% rule, Fidelity's salary multiples, and compound interest projections to give you a clear, personalized retirement savings target — and tell you whether you're on track.

The 4% Rule: Your Retirement Target

Retirement Target = Annual Expenses × 25

$40,000/year$1,000,000

$60,000/year$1,500,000

$80,000/year$2,000,000

$100,000/year$2,500,000

$120,000/year$3,000,000

$150,000/year$3,750,000

The 4% rule: withdraw 4% of your portfolio per year. Your money should last 30+ years. Adjust for Social Security income.

Retirement Savings Calculator

Current Age

Retirement Age

Current Savings ($)

Monthly Contribution ($)

Annual Return (%)

Desired Annual Income ($)

You're on track!

Projected Savings

$1,728,497

Target Needed

$1,500,000

Interest Earned

$1,367,497

Surplus

$228,497

Savings Goal Calculator

Fidelity Retirement Savings Milestones

By age 301× your salary

By age 352× your salary

By age 403× your salary

By age 454× your salary

By age 506× your salary

By age 557× your salary

By age 608× your salary

By age 6710× your salary

Source: Fidelity Investments retirement savings guidelines. Assumes retiring at 67 with Social Security.

Frequently Asked Questions

Related Guides

Compound Interest Guide

Rule of 72 and retirement scenarios

Net Worth Calculator by Age

How you compare to your peers

Savings Goal Guide

Monthly savings formula and timeline

Net Worth Milestones

Decade-by-decade wealth targets

Start Planning Your Retirement Today

Use our free calculators to project your savings and set a clear retirement target.

Compound Interest Calculator Savings Goal Calculator

The 4% Rule

Retirement Target = Annual Expenses × 25

$60k/year → need $1.5M saved

Related Calculators