Retirement Calculator
Calculate how much you need to save for retirement and track your progress
This calculator helps you plan for retirement by projecting your future savings based on your current age, retirement age, savings, monthly contributions, expected investment returns, and inflation. It provides a detailed yearly breakdown, visual summaries, and tips to help you understand how your savings can grow over time and what you might need to reach your retirement goals.
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FAQ
- What is the retirement calculator?
- The retirement calculator is a tool that helps you calculate how much you need to save for retirement and track your progress.
- How does the retirement calculator work?
- The retirement calculator works by taking your current age, retirement age, current savings, monthly contribution, expected return, and inflation rate, and then projecting your future savings based on these inputs.
- What is the expected return?
- The expected return is the average annual return you expect from your investments.
- What is the inflation rate?
- The inflation rate is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling.
- How to use the free retirement calculator?
- You can use the free retirement calculator by entering your current age, retirement age, current savings, monthly contribution, expected return, and inflation rate.
- What is the rule of 7 in retirement?
- The rule of 7 states that the interest rate multiplied by the number of years equals 7. This is a quick way to estimate the future value of an investment.