Does this calculator include Social Security?

No. The calculator estimates a savings target from desired retirement income. You can reduce the desired income input if you want to account for expected Social Security, pension, or other income.

Retirement Savings Goal Calculator: Monthly Savings Needed

Q: How much should I save for retirement?

There is no single correct number. A common starting point is estimating desired annual retirement income, adjusting for inflation, and dividing by an assumed withdrawal rate. This calculator provides an educational estimate, not a personalized plan.

Q: What withdrawal rate should I use?

Many people test scenarios around 3% to 4%, but the right rate depends on age, market returns, taxes, spending flexibility, portfolio mix, and retirement length.

Q: Are the results guaranteed?

No. Investment returns, inflation, taxes, fees, income, contribution limits, and life events can change the result. Treat the estimate as a planning starting point.

Published: June 19, 2026 · Updated: June 19, 2026 · Maintained by: WealthScope Hub Editorial Team

How this calculator works

This tool starts with your desired annual retirement income, adjusts it for inflation until your target retirement age, then estimates the savings balance that could support that income using your assumed withdrawal rate.

future income target = desired income x (1 + inflation rate) ^ years until retirement

estimated nest egg target = future income target / withdrawal rate

It then projects your current retirement savings and monthly contributions forward using the expected annual return you enter.

Worked example

Imagine you are 35, want to retire at 67, already have $65,000 saved, and contribute $750 per month. If you want $70,000 a year in today's dollars, assume 2.5% inflation, 6% annual return before retirement, and a 4% withdrawal rate, the calculator estimates the future income target, nest egg target, projected savings, and the monthly amount needed to close any gap.

Why withdrawal rate matters

A lower withdrawal rate creates a larger savings target because each dollar of retirement spending needs more assets behind it. A 4% rate turns $80,000 of annual income into a $2,000,000 target. A 3.5% rate turns the same income into about $2,285,714. Small changes can move the target a lot.

Related tools & guides

Planning guide: How much should you save for retirement?
Workplace savings: 401(k) Contribution Calculator
Account type comparison: Roth vs Traditional IRA Calculator

Frequently asked questions

How much should I save for retirement?

There is no one correct number. Start with your desired spending, expected income sources, retirement age, investment assumptions, and a withdrawal rate you are comfortable stress-testing.

What withdrawal rate should I use?

Many people test 3% to 4% scenarios, but the right rate depends on age, taxes, investment mix, market returns, flexibility, and retirement length.

Does this include Social Security?

No. If you want to include expected Social Security or pension income, reduce the desired annual retirement income input by that amount.

Are the results guaranteed?

No. Returns, inflation, fees, taxes, income, and contribution behavior can all change the result.

Important note

This page is educational only and is not financial, investment, retirement, tax, legal, or accounting advice. It does not model Social Security, pensions, required minimum distributions, taxes, fees, sequence-of-returns risk, healthcare costs, contribution limits, or every household circumstance. Consider testing multiple assumptions and consulting a qualified professional before making major retirement decisions.