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Retirement Shortfall Calculator

One of the biggest risks to a comfortable retirement is running out of money too soon. This calculator helps you determine your projected shortfall or surplus at retirement. You can also see just how long your current retirement savings will last. If your results project a shortfall, you might need to save more, earn a better rate of return, or possibly delay your retirement.
By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.



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Your projected shortfall at retirement is $1,974,488.37.
*indicates required.
Check here to increase expenses with inflation
Your savings runs out after 6.3 years of retirement Line Graph: Please use the calculator's report to see detailed calculation results in tabular form.

Definitions

Current retirement savings

This is your current retirement savings. You should include any savings or investments that are specifically for your retirement. Be careful not to include amounts earmarked for other purposes, such as your children's education.

Monthly contributions

The amount you will contribute each month to your retirement savings. This calculator assumes that you make your contribution at the beginning of each month. The tool also assumes that this amount remains constant until you retire. Your contributions should be the total you save toward your retirement each month. This should include any 403(b), 401(k), or 457(b) plans and your employer's contributions to these plans. It should also include any other retirement accounts such as an IRA or a Roth IRA and any retirement savings in non-retirement accounts.

Years before you retire

The number of years you have to save before your retirement. If you are planning on retiring immediately, you should enter a zero.

Number of years in retirement

The number of years you expect to spend in retirement. If this retirement savings plan is intended to support you and your spouse, make sure this is enough years to account for your spouse's potentially longer lifespan.

Annual retirement expenses

Your after-tax retirement expenses. Since this calculator assumes that you will be paying income taxes on interest as it is earned, your expenses should be entered on an after-tax basis. Your retirement expenses are increased each year by your expected inflation rate if the 'Increase expenses with inflation' box is checked.

Expected inflation rate

This is what you expect for the average long-term inflation rate. A common measure of inflation in the U.S. is the Consumer Price Index (CPI). From 1925 through 2024 the CPI has a long-term average of 3.0% annually. Over the last 40 years the highest CPI recorded was 13.5% in 1980. For the 12 months ending October 31st 2024 the CPI for All Urban Consumers (CPI-U) was 3.2% as reported by the U.S. Bureau of Labor Statistics.

Rate of return before retirement

This is the annually compounded rate of return you expect from your investments before taxes. The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor's 500® (S&P 500®) for the 10 years ending December 31st 2024, had an annual compounded rate of return of 14.9%, including reinvestment of dividends. From January 1, 1970 to December 31st 2024, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 11.2% (source: www.spglobal.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a financial institution pay less but carry significantly lower risk of loss of principal balances.

It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that investment funds and/or investment companies may charge.

Rate of return during retirement

This is the annual rate of return you expect from your investments during retirement. It is often lower than the return earned before retirement due to more conservative investment choices to help insure a steady flow of income. The actual rate of return is largely dependent on the types of investments you select. The Standard & Poor's 500® (S&P 500®) for the 10 years ending December 31st 2024, had an annual compounded rate of return of 14.9%, including reinvestment of dividends. From January 1, 1970 to December 31st 2024, the average annual compounded rate of return for the S&P 500®, including reinvestment of dividends, was approximately 11.2% (source: www.spglobal.com). Since 1970, the highest 12-month return was 61% (June 1982 through June 1983). The lowest 12-month return was -43% (March 2008 to March 2009). Savings accounts at a financial institution pay less but carry significantly lower risk of loss of principal balances.

It is important to remember that these scenarios are hypothetical and that future rates of return can't be predicted with certainty and that investments that pay higher rates of return are generally subject to higher risk and volatility. The actual rate of return on investments can vary widely over time, especially for long-term investments. This includes the potential loss of principal on your investment. It is not possible to invest directly in an index and the compounded rate of return noted above does not reflect sales charges and other fees that investment funds and/or investment companies may charge.

Federal tax rate

Your marginal federal tax rate. Use the ‘Filing Status and Federal Income Tax Rates on Taxable Income’ table to assist you in estimating your federal tax rate.

Filing Status and Federal Income Tax Rates on Taxable Income for 2025*
Tax RateMarried Filing Jointly or Qualified Widow(er)SingleHead of HouseholdMarried Filing Separately
10%$0 - $23,850$0 - $11,925$0 - $17,000$0 - $11,925
12%$23,850 - $96,950$11,925 - $48,475$17,000 - $64,850$11,925 - $48,475
22%$96,950 - $206,700$48,475 - $103,350$64,850 - $103,350$48,475 - $103,350
24%$206,700 - $394,600$103,350 - $197,300$103,350 - $197,300$103,350 - $197,300
32%$394,600 - $501,050$197,300 - $250,525$197,300 - $250,500$197,300 - $250,525
35%$501,050 - $751,600$250,525 - $626,350$250,500 - $626,350$250,525 - $375,800
37%Over  $751,600Over  $626,350Over  $626,350Over  $375,800
*Caution: Do not use these tax rate schedules to figure 2024 taxes. Use only to figure 2025 estimates. Source: Rev. Proc. 2024-40

State tax rate

Your marginal state tax rate.


Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.