401k Retirement Planner
Find out how much you may need to retire, whether your 401k is on track, and what it would take to close any gap. Nothing you type leaves your device.
What we noticed
Year by year
How this calculator works
We start with the yearly income you want in retirement, as a share of your final pay. We subtract what Social Security is expected to pay, then divide what is left by your withdrawal rate (4% to start) to find the savings you may need.
Then we project your 401k to your retirement age and compare the two, all in today's money. If there is a gap, we show how much more of your pay you would need to save, and how many extra years of work would close it.
Social Security is different for everyone. Check your own estimate at ssa.gov and enter it in the form.
Rules of thumb used here
| Income goal in retirement | 70% to 80% of your final pay |
|---|---|
| Withdrawal rate | 4% of savings in the first year |
| Social Security | Replaces about 40% of pay for an average earner (Social Security Administration) |
| Common savings guide | About 15% of pay a year, including employer money |
Frequently asked questions
How much do I need to retire?
It depends on how much you spend. A common starting point is 70% to 80% of your final pay. Social Security covers part of that, and your savings cover the rest. This planner does that sum for you.
What is the 4% rule?
It says you can take out about 4% of your savings in your first year of retirement and raise that amount with prices each year. Dividing the income you need from savings by 0.04 gives the savings target.
How much should I save each year?
Many planners suggest about 15% of your pay, counting what your employer adds. If you start late, you may need more. The result above shows what would close your own gap.
What if I am behind?
You have a few levers: save more, retire a little later, or plan to spend less. Each extra year of work adds savings and shortens the time they must last, which helps a lot.
Is this guaranteed?
No. Markets, inflation, taxes and your own spending will differ from any assumption. Treat the result as a guide and review it every year.