We’ll give you recommendations on how to adjust your retirement savings strategy.
Answer a few questions about yourself.
Add your current age.
I want to retire at age
Enter the age at which you’d like to retire.
Annual pre-tax income
Insert the salary you earn before taxes.
How much money you have saved for retirement already.
Enter the amount you put aside for retirement every month.
Investment rate of return
Our standard estimate is 7%, but you can customize.
Monthly retirement spending
How much you plan to spend monthly of your retirement savings after other income (such as social security).
Make sure you have enough saved for a long retirement.
This assumes an annual inflation rate average of 3% during your retirement years.
Investment rate of return during retirement
This is the annual rate of return you expect from your savings and investments during your retirement.
Based on our calculator, your financial needs for retirement are higher than your retirement savings will be at age 64.
Your savings will cover 72% of your needs.
You will have
You will need
If there’s any wiggle room in your budget, bumping up your monthly contribution is a great way to get the future you want, faster.Additional resources
If you delay your retirement, even for just a few years, you could see a significant increase in your retirement savings potential.Additional resources
Although your ideal retirement lifestyle may need to change, spending less in your retirement years is actually a good way to make your money last.
When deciding on how much money you’ll need in retirement, you need to consider a few different things.
Try to imagine your future, where you’ll want to live, at what age you’ll want to start working, and the decisions that you plan to make along the way which will affect how much you’re able to save towards retirement.
You might also take into consideration your career trajectory and other sources of income you’ll have during retirement. Stash’s calculator can help give you an idea of what you should aim for according to your circumstances.
There are a couple of different ways to save for retirement. Two of the most common types of retirement accounts are 401(k)s and individual retirement accounts (IRAs).
A 401(k) is a retirement account that can be offered by private companies. Employees commonly contribute with pretax dollars.
With an IRA, you can invest your contributions in almost any security, and investment returns grow tax-deferred while they remain in your account. There are two kinds: traditional and Roth IRAs. Stash offers both types of IRAs, no matter which subscription plan you have.
You can learn more about the difference between those accounts, and which one is best for you, here.
If you want to plan to retire early, there are a few things you can do to get started.
Try to envision aspects of your life in retirement, such as where you want to live. You’ll also want to assess your current financial situation and lifestyle. Build a budget for retirement savings and identify places in your investment strategy where you can maximize your retirement funds. And consider hiring a financial advisor to help.