Retirement Calculator

Personal Information
years
years
years
Current Finances
$
$
$
Retirement Goals
80%

Percentage of current income needed in retirement

$
Growth Assumptions
%
%
%
Retirement Savings Goal
$0
Projected Savings at Retirement
$0
Monthly Income in Retirement
$0
Savings Gap/Surplus
$0
Savings Growth Projection
Accumulation PhaseWithdrawal Phase
Detailed Breakdown
Disclaimer: This calculator provides estimates for educational purposes only. Actual results will vary based on market performance, tax implications, and personal circumstances. Consult a qualified financial advisor for personalized retirement planning.

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What is Retirement Calculator

Retirement Calculator helps you plan how much to save and what that means for monthly income later in life. Not sure if your current savings and contributions will hit your goal - or how inflation and returns change the picture? The free Retirement Calculator by FlexiTools.io lets you enter your age, target retirement age, savings, contributions, income replacement goal, Social Security, growth assumptions, and inflation. In the next 60 seconds, you can run the numbers, see a savings goal, your projected balance at retirement, estimated monthly income, a gap or surplus, and a clear growth chart.

How to Use Our Retirement Calculator

  1. Fill in your basics
  • Set Current Age, Retirement Age, and Life Expectancy. Add your Current Retirement Savings, Monthly Contribution, and Current Annual Income.
  1. Define your retirement goal
  • Pick an Income Replacement Goal with the slider - many people start at 70-90 percent. Enter Expected Social Security per month.
  1. Set growth and inflation
  • Enter Pre-Retirement Return, Post-Retirement Return, and Expected Inflation Rate. These control compounding and future purchasing power.
  1. Calculate and review
  • Click Calculate Retirement. You’ll see your Retirement Savings Goal, Projected Savings at Retirement, Monthly Income in Retirement, and Savings Gap or Surplus. A Savings Growth Projection chart shows accumulation and withdrawal phases, with a detailed breakdown and simple recommendations. Use Reset to try new scenarios.

Why FlexiTools.io Offers the Best Retirement Calculator

Goal, projection, and income in one place

See your target, your projected savings, and the income that balance could support - side by side.

Clear, adjustable assumptions

Edit returns, inflation, and Social Security to reflect your own view. The status area and cards update in a snap.

Visual growth path

A chart shows your accumulation years and withdrawal years so you can spot if you need to save more or retire later.

Practical guidance

A gap or surplus card and a recommendations area help you decide your next move without guesswork.

FlexiTools.io vs typical alternatives

  • FlexiTools.io: Income replacement goal plus Social Security input - Alternatives: Limited income modeling
  • FlexiTools.io: Pre- and post-retirement return and inflation controls - Alternatives: Fixed or hidden assumptions
  • FlexiTools.io: Gap or surplus and a two-phase chart - Alternatives: Balance-only output
  • FlexiTools.io: Fast, private, in-browser flow - Alternatives: Sign-ups or lengthy forms

A Deeper Look at Retirement Needs, Growth, and Income

How the tool frames your goal

A common way to plan is income replacement. You choose a percentage of your current income that you want to match in retirement - for example, 80 percent. The calculator estimates how much monthly income that implies for your retirement years. Then it subtracts expected monthly Social Security to find how much must come from savings. From there, it estimates the savings needed to support that income through your retirement years, using your post-retirement return and inflation assumptions.

Why this helps: it ties the future to a number you know today - your current income - and it adjusts for inflation so the target reflects tomorrow’s prices, not today’s.

Compounding before retirement

Your savings grow through contributions and investment returns. The earlier you start and the more steady you are, the more compounding does the heavy lifting. Even modest monthly increases can add up over decades. For a plain-English explainer on compounding, see the SEC’s short [compound interest overview] which shows how time and rate shape growth. The calculator uses your pre-retirement return input to grow current savings and monthly contributions up to your retirement age.

Spending and investment returns after retirement

After you retire, your balance continues to move with investment returns while you draw monthly income. The tool uses your post-retirement return and inflation inputs to estimate the income your savings can support across your planning horizon - from retirement age to life expectancy. Because markets move, the post-retirement return is only a simplifying average. It is useful for planning, not for prediction. If you lower the return or raise inflation, you’ll often see the gap widen - a prompt to save more, work longer, or plan for a smaller monthly need.

Dials that matter most

  • Income replacement goal - Higher replacement needs a larger nest egg. Try 70, 80, and 90 percent to see the range.
  • Monthly contribution - Raising savings even a little each year can close a large gap over time.
  • Retirement age - Pushing this back a few years both boosts compounding and shortens the withdrawal phase.
  • Returns - Test a range to build a plan that feels comfortable under tougher markets too.
  • Inflation - Higher inflation raises future spending needs. Keep an eye on this dial and test a higher case.

Reading the outputs

  • Retirement Savings Goal - a target balance that could support your planned income after Social Security.
  • Projected Savings at Retirement - what you might have by your target date given your inputs.
  • Monthly Income in Retirement - an estimate of what your balance could provide, plus Social Security, under your return and inflation assumptions.
  • Savings Gap or Surplus - the dollar difference between projected balance and goal. Green means you’re on track; red means you likely need changes.
  • Savings Growth Projection - a visual path from now through retirement, with clear labels for accumulation and withdrawal.

A quick example

Say you’re 30, retiring at 65, living to 85. You earn $60,000, aim to replace 80 percent of that, have $50,000 saved, and add $500 per month. You expect $1,500 in monthly Social Security, 7 percent pre-retirement return, 5 percent post-retirement return, and 3 percent inflation. Click Calculate. You’ll see a savings goal, your projected balance, estimated monthly income, and a gap or surplus. If there’s a gap, try nudging monthly contributions, lowering the income replacement goal a touch, or shifting retirement age by 1-2 years. Which lever closes the gap fastest?

Planning is iterative. Update inputs when your pay changes, debts fall, or markets shift. Small consistent moves often beat big one-time changes.

Editorial note: This guide used AI assistance and was reviewed by a human for accuracy and clarity.

Pro-Tips for Getting the Most Out of Your Plan

  • Test a lower return and a higher inflation case - build a buffer into your plan.
  • Increase monthly contributions each year - even 1-2 percent more can close a gap over time.
  • Revisit the plan after major life changes - income, dependents, or a move can shift your target.
How accurate are these results?
They are estimates based on your inputs. Markets, inflation, taxes, and personal choices will change actual outcomes. Use the results to set direction, then confirm details with a financial professional.
What does Income Replacement Goal mean?
It is the percent of your current income you plan to match in retirement. Many households aim for 70-90 percent, depending on spending, taxes, and health costs. The slider lets you see how different targets change your savings goal.
Should I include Social Security?
Yes. Enter your expected monthly benefit so the calculator can subtract it from your needed income. If you want to be conservative, use a lower number or run a second case without it.
Why split pre-retirement and post-retirement returns?
Your investment mix often changes over time. A separate post-retirement return helps model a more cautious mix while you draw income. Try a range so your plan holds up under softer markets too.
Does the tool adjust for inflation?
Yes. Your inflation input helps estimate future income needs and the real value of returns. If inflation runs higher than planned, you may need a larger nest egg or a smaller monthly draw.