Retirement Planner Calculator
Retirement Planning: Building a Secure Financial Future
The 4% Rule Explained
A common retirement guideline suggests withdrawing 4% of your savings annually. This means:
- $1 million savings = $40,000/year income
- Designed to last 30+ years with proper investing
- Adjust annually for inflation
- May need adjustment for early retirement
Retirement Savings Benchmarks
| Age | Recommended Savings |
|---|---|
| 30 | 1x annual salary |
| 40 | 3x annual salary |
| 50 | 6x annual salary |
| 60 | 8x annual salary |
| 67 | 10x annual salary |
5 Retirement Planning Mistakes to Avoid
- Underestimating longevity: Plan for 30+ years of retirement
- Ignoring inflation: $50,000 today ≠ $50,000 in 20 years
- Overlooking healthcare costs: Medicare doesn't cover everything
- Taking Social Security too early: Delaying increases benefits
- Being too conservative: Some growth needed even in retirement
Pro Tip: Maximize employer retirement matches—it's free money. If your employer matches 50% of contributions up to 6% of salary, contribute at least 6% to get the full match.