Take the Five-Minute Checkup

National studies have shown that most individuals are not saving enough for retirement. “Are you saving enough?” The quicker you find out the better. Saving early in your career improves your chance of reaching your retirement goals.

Use this calculator to quickly estimate how much you should save to meet your retirement goals. The calculator uses some simple, conservative assumptions in order to help you reach an estimate quickly. Use this calculator to get started saving.

Estimate how much you should be saving for retirement
1. What is your current annual income?	$
2. Enter your estimated annual pension (in current dollars)	$
3. Enter your projected annual Social Security (annual amount in current dollars) You may use the SSA quick calculator to estimate your Social Security Benefit. Select today’s dollars for the calculation.	$
4. How much do you have in retirement savings available now?	$
5. What is your current age?
6. At what age would you like to retire?

Results in Today’s Dollars
1. Number of years until retirement
2. Total retirement income from pension and Social Security (annually)	$
3. Annual income needed in retirement but not covered by pension and Social Security Benefits	$
4. The estimated total amount of savings you will need at retirement	$
5. The estimated value of your current retirement savings at retirement	$
6. The estimate of how much more or less you will need to save to reach your goal	$
7. To make up this difference, each year you will need to save	$
8. Including what you are saving now, your Total Annual Contribution Rate should be (The total of all contributions should add up to the number at right)	%

All numbers are in today’s dollars and adjusted for inflation

Now that you have an estimate we encourage you to start saving. Every individual is different so the assumptions in this calculator may not correspond to your personal situation. We encourage you to use all the resources available to create a more comprehensive and meaningful plan for your future. Contact Investor Services or try our Advanced Guide to develop a more detailed retirement plan.

Next step: Start saving

Take the Five-Minute Checkup

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