Retirement Catch-Up Calculator
If you started saving for retirement late, this calculator helps you determine how much you need to save each month to reach your retirement goals. Get a personalized savings plan to catch up.
Retirement Catch-Up Calculator
Your Catch-Up Savings Plan
Example Calculations
$50,000 current savings, age 45, retire at 65, life expectancy 85, 6% return, 2% inflation, $60,000 desired income, $20,000 Social Security
Years Until Retirement: 20
Required Retirement Savings: ~$1,000,000
Projected Savings at Current Rate: ~$250,000
Savings Shortfall: ~$750,000
Monthly Savings Needed: ~$1,650
$100,000 current savings, age 50, retire at 67, life expectancy 90, 5% return, 2.5% inflation, $80,000 desired income, $30,000 Social Security, $15,000 pension
Years Until Retirement: 17
Required Retirement Savings: ~$1,200,000
Projected Savings at Current Rate: ~$350,000
Savings Shortfall: ~$850,000
Monthly Savings Needed: ~$2,800
How to Use the Retirement Catch-Up Calculator
This calculator helps you determine how much you need to save each month to reach your retirement goals if you started saving late. Here’s how to use it:
- Current Retirement Savings: Enter your total retirement savings (required)
- Current Age: Enter your current age (required)
- Planned Retirement Age: Enter your planned retirement age (required)
- Life Expectancy: Enter your expected life expectancy (required)
- Expected Annual Return: Enter your estimated investment return rate (required, default 6%)
- Expected Inflation Rate: Enter the expected inflation rate (required, default 2%)
- Desired Annual Retirement Income: Enter your desired annual income in retirement (required)
- Social Security/Pension/Other Income: Enter any expected retirement income sources (optional)
- Current Monthly Savings: Enter what you’re currently saving (optional)
The calculator will show your savings shortfall and the additional monthly savings needed to reach your goal.
Why Calculate Your Catch-Up Savings?
If you started saving for retirement late, this calculator helps you:
- Understand exactly how much you need to save to reach your goals
- See the impact of increasing your savings rate
- Plan for a realistic retirement timeline
- Adjust your expectations if needed
Frequently Asked Questions
Yes, our calculator is completely free to use with no registration required.
The calculator provides estimates based on your inputs. Actual results may vary due to market fluctuations, unexpected expenses, or changes in inflation.
Consider adjusting your retirement age, desired income, or investment strategy. Even small increases in savings can make a big difference over time.
Note: This calculator provides estimates only. Investment returns and inflation rates are not guaranteed. Consult a financial advisor for personalized retirement planning advice.