Retirement Savings Calculator
How can you estimate how much to save for your retirement? Use our retirement calculator.
Saving enough? Let's find out. You can find out if you're saving enough for your retirement with our retirement savings calculator. Plug in some information about yourself and your retirement plans, and we'll show you what you need to save to make reality meet your expectations. Test out different scenarios to see how your results change.
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Retirement Savings Calculator
How does the retirement calculator work?
Here's how to use Schwab's retirement calculator:
- Start by entering your current age, the age you plan to retire, and your investment style (such as conservative or moderately aggressive).
- Next, provide details about your annual income and savings contributions, your expected Social Security income, and your expected retirement spending.
- After submitting this information, the calculator will estimate your projected retirement savings summary, including total savings, savings needed, and extra savings or any additional amount you may need. You can adjust different inputs, like retirement age or contribution amount, to compare scenarios and see how changes might impact your outlook. Use these estimates as a planning tool to guide your retirement strategy, remembering that results are based on the information you enter and are not guarantees.
Yes, Schwab's retirement calculator allows you to input how much Social Security income you expect to receive in retirement. You can input whether you will receive benefits and the age Social Security will start, and the calculator has the option to manually add your expected annual Social Security or let the calculator automatically calculate how much you'll expect to receive.
Enter the most accurate numbers you have for your savings, annual contributions, expected retirement age, and retirement spending goals. If you are unsure about an amount, use your best estimate first, then update the numbers later to see how your results change.
Your results give you an estimate of how much you could have saved by retirement based on the information you entered. Use that estimate as a planning guide, then look for any gap between your projected savings and your retirement income needs so you can adjust your savings rate, retirement age, or spending plans.
Try changing one input at a time, such as your annual contribution, retirement age, or expected retirement expenses, to see how each change affects your outcome. Testing different scenarios can help you understand your options and make more informed decisions about saving and planning for retirement.
Enter the age you realistically expect to retire based on your current plans. You can also try a few different retirement ages to see how working longer or retiring earlier may change your projected savings and retirement outlook.
Your investment style helps Schwab's retirement calculator estimate how your savings may grow over time. Because different risk levels can lead to different projected outcomes, it can be helpful to compare results using a more conservative or more growth-focused approach.
Schwab's retirement calculator estimates your retirement savings based on the details you enter, such as your current age, planned retirement age, annual contributions, and investment style. It uses those inputs to project a possible savings total, which can help you see whether your current plan may support your retirement goals.
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