Here’s how to use the retirement calculator:
- First, enter your current age.
- Second, enter your anticipated retirement age.
- Third, input your current retirement savings.
- From there, adjust your anticipated return rate (ROI) to give you a better idea of how much you need to save.
- Finally, enter the desired amount of money saved for retirement.
- From there, an estimation will be calculated of how much you need to save each month between now and your anticipated retirement age.
Retirement Planning Calculators and Financial Planning Calculators
Utilize these these free retirement planning tools and services to help optimize your retirement.
What is the age for Retirement?
The age to retire without an early withdrawal penalty from the IRS on Qualified Retirement Plans is age 59½. Qualified Retirement Plans include an IRA, 401k, 401a, Pension Plans, Roth IRA, SEP-IRA, and TSA 403b. The age to retire to start receiving Social Security Benefits is age 62.
With that said, retirement age can be anytime as long as an individual has saved enough money to survive for the rest of their life.
Calculating Retirement Income
This retirement calculator will answer the following questions:
- How much do I need to retire?
- When can I retire?
- How to retire early?
- How long will my money last?
- How to retire at age 40, 45, 50, 55, 60, 62, and age 65.