Retirement Calculator

The best retirement calculators are simple and easy to understand.
Try our free retirement calculator to get a realistic idea of where you stand today, and what you need to do to obtain the retirement of your dreams.

Retirement Calculator

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We realize this is a tough question to answer, but it makes a difference when trying to figure out how much you need to save for retirement.

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Enter the total balance of all your retirement accounts like 401(k)s, 403(b)s, TSPs, IRAs, Roth IRAs, etc.


Enter the amount you will receive from things like pensions, Social Security, part-time work, etc.

Do not include income from your investment portfolio, such as dividends, interest, capital gains, or IRA/401k distributions.

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Enter an estimate of what you think your basic living expenses will be in retirement.

If you're not sure, that's ok - just put down what your basic expenses are today.


If so, enter how much you want to reserve each year for these purchases (example - if you want to spend $5,000 per year on travel and $3,000 per year on your hobbies, you'd enter $8,000 in the above box).

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This calculator tool and the results presented are provided to you as a courtesy for informational purposes on an “as is” and “as available” basis. Use of this tool and the results presented is at your own risk. We disclaim all warranties with respect to its use or the use of the results presented herein. We will not be liable for any damages of any kind with the use of this tool or the resents presented herein. The use of this tool does not create an advisory client relationship between us, and the results presented herein should not be construed as personalized investment advice or recommendations. You should not use the results presented herein without first consulting your financial, legal, and tax advisors. The results presented herein are based upon information and assumptions provided by you. Any information contained herein is dependent on the quality and accuracy of data furnished by you. Any changes in, or inaccuracy of, the information you have provided to us may materially affect the information presented. The results are also derived using various assumptions. Among other things, the results assume an annual return on investments equal to three percent. Additionally, the assumed Federal tax rate is thirty percent. These assumptions may turn out to be materially inaccurate for your situation, which would materially alter the accuracy of the results presented, and therefore you should be guided accordingly.
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How does it work?
Easy! This simple retirement calculator only asks for a few basic pieces of information to give you a realistic idea of how much you need to save for retirement. Just answer the following questions and you’ll get an answer in seconds!
  When you want to retire
  How much you have saved for retirement today
  What your income sources will be in retirement
 A guesstimate of what your expenses will be in retirement

This calculator may not be able to produce an answer depending on how you answer some of these questions. For example, if you think your retirement income, like Social Security and/or pensions, will be more than your retirement expenses, then the calculation becomes more complex (it does not mean you don’t need anything saved for retirement!). If this happens to you, we invite you to reach out for a more customized, detailed retirement plan. Check out a sample financial plan to see just how this unique process can be tailored to your personal situation. 

If you’d to get started on your customized retirement plan, simply provide your email address in the form below. One of our friendly Certified Financial Planners™ will reach out to help you get started!

retirement calculator

Thanks for using our simple, free retirement calculator! We hope you found it useful. This realistic retirement calculator should hopefully give you an idea of how much you should be saving each month to reach your goals. No retirement calculator is perfect, however. Life oftentimes throws curveballs your way. This retirement calculator can get you off to a good start, but it is also worthwhile to take a look at your entire financial picture to make sure you’re planning for all those “what-ifs” of life. 

Reach out to us today to get a closer look at our more complex, in-depth retirement calculator which we use as part of our comprehensive financial planning process!

Important Disclaimer:2

1

Taylor Hoffman is an SEC registered investment adviser with its principal place of business in the State of Virginia. Any references to the terms “registered investment adviser” or “registered,” do not imply that Taylor Hoffman or any person associated with Taylor Hoffman have achieved a certain level of skill or training. Taylor Hoffman may only transact business in those states in which it is registered /notice filed, or qualifies for an exemption or exclusion from registration /notice filing requirements. For information pertaining to the registration status of Taylor Hoffman or for additional information about Taylor Hoffman, including fees and services, please visit www.adviserinfo.sec.gov.

The information contained herein is provided for informational purposes only and should not be construed as the provision of personalized investment advice, or an offer to sell or the solicitation of any offer to buy any securities. Rather, the contents including, without limitation, any forecasts and projections, simply reflect the opinions and views of the author. All expressions of opinion reflect the judgment of the author as of the date of publication and are subject to change without notice. There is no guarantee that the views and opinions expressed herein will come to pass.

This document contains information derived from third party sources. Although we believe these third party sources to be reliable, Taylor Hoffman makes no representations as to the accuracy or completeness of any information derived from such third-party sources and takes no responsibility therefore.

The S&P 500 is a market capitalization weighted index of 500 leading U.S. companies and one of the most common benchmarks for the broader U.S. equity markets.

The NASDAQ Composite Index measures all NASDAQ domestic and international based common type stocks listed on The Nasdaq Stock Market. Launched in 1971, the NASDAQ Composite Index is a broad based Index. Today, the Index includes over 3,000 securities, more than most other stock market indices. The NASDAQ Composite is calculated under a market capitalization weighted methodology index. To be eligible for inclusion in the Composite the security’s U.S. listing must be exclusively on the Nasdaq Stock Market (unless the security was dually listed on another U.S. market prior to January 1, 2004 and has continuously maintained such listing), and have a security type of either: American Depositary Receipts (ADRs); Common Stock; Limited Partnership Interests; Ordinary Shares; Real Estate Investment Trusts (REITs); Shares of Beneficial Interest (SBIs); Tracking Stocks Security types not included in the Index are closed-end funds, convertible debentures, exchange traded funds, preferred stocks, rights, warrants, units and other derivative securities.

If at any time a component security no longer meets the above eligibility criteria, the security is removed from the Composite Index.

The Stoxx Europe 600 is a subset of the STOXX Global 1800 Index. With a fixed number of 600 components, the STOXX Europe 600 Index represents large, mid and small capitalization companies across 17 countries of the European region: Austria, Belgium, Czech Republic, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Portugal, Spain, Sweden, Switzerland and the United Kingdom.

The Shanghai Composite Index is a market capitalization weighted index made up of all the A-share and B-shares that trade on the Shanghai Stock Exchange.

Past performance is not an indication or guarantee of future results. Investing in securities involves risks, including the potential loss of all amounts invested.

Taylor Hoffman makes no representation, express or implied, as to the accuracy, timeliness, or completeness of any of the research contained herein or with regard to the results to be obtained from its use. In no event will Taylor Hoffman or any party associated with Taylor Hoffman be liable for any direct or indirect trading losses caused by any information contained in this report. Readers must conduct their own independent analysis of the information contained herein before making any investment decisions.

2

This calculator tool and the results presented are provided to you as a courtesy for informational purposes on an “as is” and “as available” basis. Use of this tool and the results presented is at your own risk. We disclaim all warranties with respect to its use or the use of the results presented herein. We will not be liable for any damages of any kind with the use of this tool or the resents presented herein. The use of this tool does not create an advisory client relationship between us, and the results presented herein should not be construed as personalized investment advice or recommendations. You should not use the results presented herein without first consulting your financial, legal, and tax advisors.

The results presented herein are based upon information and assumptions provided by you. Any information contained herein is dependent on the quality and accuracy of data furnished by you. Any changes in, or inaccuracy of, the information you have provided to us may materially affect the information presented. The results are also derived using various assumptions. Among other things, the results assume an annual return on investments equal to three percent. Additionally, the assumed Federal tax rate is thirty percent. These assumptions may turn out to be materially inaccurate for your situation, which would materially alter the accuracy of the results presented, and therefore you should be guided accordingly.