Question 1

How much do I need to retire comfortably?

Accepted Answer

A common rule is the 80% rule: you will need 80% of your pre-retirement income annually. Another approach is the 25x rule: save 25 times your desired annual retirement spending. For example, if you want $60,000/year, aim for $1.5 million ($60,000 × 25). Consider expenses, lifestyle, healthcare costs, and life expectancy. Most experts recommend saving 15-20% of income for retirement.

Question 2

What is the 4% rule for retirement?

Accepted Answer

The 4% rule suggests you can withdraw 4% of your retirement savings in the first year, then adjust for inflation annually, with a high probability your money will last 30 years. For example, with $1 million saved, withdraw $40,000 the first year. This is a guideline; adjust based on market conditions, expenses, and life expectancy.

Question 3

When should I start saving for retirement?

Accepted Answer

Start as early as possible to maximize compound growth. Starting at age 25 versus 35 can result in hundreds of thousands more at retirement, even with the same monthly contribution. If starting late, increase contribution amounts and work longer. Take advantage of employer matching (free money), maximize tax-advantaged accounts (401k, IRA), and increase contributions with raises.

Question 4

How does compound interest affect retirement savings?

Accepted Answer

Compound interest means earning returns on your returns. Over decades, it dramatically increases savings. For example, saving $500/month at 7% return: after 30 years = $566,764 (you contributed $180,000, compound interest added $386,764). Starting 10 years earlier with the same contribution yields $1,219,971. Time is your greatest asset in retirement savings.

Question 5

Should I contribute to 401k or IRA?

Accepted Answer

Prioritize 401k up to employer match (free money), then max out IRA for more investment options and potentially lower fees, then return to max 401k if possible. 2026 limits: 401k $23,500 ($31,000 if 50+), IRA $7,000 ($8,000 if 50+). 401k contributions are pre-tax (traditional) or post-tax (Roth). Choose based on current vs. expected retirement tax bracket.

Calculator	Best For	Complexity	Time Required
Mortgage Calculator	Home buying decisions	beginner	2-3 minutes
Loan Calculator	Personal finance planning	beginner	1-2 minutes
Auto Loan Calculator	Vehicle financing	beginner	2-3 minutes
Investment Calculator	Investment planning	intermediate	3-5 minutes

Retirement Planning Details

Retirement Projection

Planning for Retirement

Related Financial Calculators

Compare Financial Calculators

Mortgage Calculator

Loan Calculator

Auto Loan Calculator

Investment Calculator

Quick Comparison