Retirement Planning Calculator

This free retirement planning tool helps you to work out how much you might need to save per year in order to meet your retirement goals. Fill in the boxes and enter the amount of money that you would like to retire with, in today's dollars. The retirement calculator will adjust for inflation. The number you choose should be on top of any pensions or social security that you expect to receive.

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How Much Do I Need For Retirement?

Proper retirement planning is essential if you want to sustain a comfortable lifestyle beyond retirement age. When you're just starting out in your chosen career, it's all too easy to put off thinking about pensions, however the golden rule in retirement planning is: act now.

The oft-quoted calculation for the amount to save for your retirement is to halve your current age and then save that percentage of your gross income, e.g. a 24-year-old should save 12% of their gross income into a pension. This is far better than no pension at all, however, this 'one size fits all' approach fails to take into account many additional factors: what lifestyle you want to have in your retirement years, how active you'll be, where you want to live and if you'll still have a mortgage or dependents.

If you have any problems using this retirement planning calculator tool then please contact me.