Retirement Calculator: Are you saving enough for retirement?

Have you ever figured out if you are on track to live comfortably after you retire? You can use our investment calculator to figure it out. (Click on the investment tab)

Just slide the bars to select the following variables:

1. Years till retirement


2. Years after retirement


3. Initial investment amount


4. Annual contribution before retirement


5. Annual withdrawal after retirement

Once you add your information you can click the “Analysis” button for a detailed description of your retirement position.

Here is an example:

You started with an initial balance of $17,000. Over the course of 30 years, you have diligently contributed $3,000 each year for a total contribution of $58,801. This was well worth it, because you will have $413,975 at retirement. Due to the magic of compounding over time, the money that you put in have earned a total return of $348,170 — assuming an annual rate of return of 10%.

Although historically the stock market returned around 10% annually, this rate may not be easy to predict or control. You may want to see how the numbers come out with different rates of return. One variable that you do have control over is your annual contribution. See how the numbers will change when you adjust this.

Given the rate of return of 6% and an annual withdrawal amount of $62,000, your retirement money will run out 8 years after retirement. To make your money last more years, try increasing the annual contribution or decreasing the withdrawal amount. Alternatively, you can increase the years till retirement.