How to Plan for Retirement

The retirement number everyone talks about — $1 million, $2 million — means nothing without context. What matters is your monthly income in retirement. Use this calculator to see both.

The 4% Rule in Practice

If you have $1,000,000 saved at retirement and withdraw 4% per year, that gives you $40,000/year or $3,333/month. Add Social Security ($1,800-$3,500/month depending on earnings history and claiming age), and you can estimate your total retirement income.

How Much Should I Save Each Month?

Aim for 15% of gross income toward retirement (including any employer match). At $80,000/year, that is $1,000/month. If your employer matches 4%, you contribute 11% and the match covers the rest.

Behind on savings? Boost to 20-25%. Every extra 1% of your income saved adds up to tens of thousands over a career.

Key Levers You Control

• Save more — Even 1% more makes a big difference over 30+ years
• Work longer — 2-3 extra working years dramatically improve your numbers
• Reduce fees — A 1% fee drag can cost you 28% of your returns over 30 years
• Delay Social Security — Waiting until 70 increases your benefit by 24% vs. claiming at 67