Retirement Calculator Free · Calc Pro
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Coming soonHow much will you have when you retire, and how much can it pay you each year? Enter what you've saved, what you add each year and how you expect it to grow, and Calc Pro shows your balance at retirement and the annual income it supports.
How to use the Retirement Calculator
- 1Tap Current Savings and enter what you've saved so far.
- 2Press ↓ and enter your Annual Contribution, the Years to Retirement and the expected Growth Rate (7 for 7%).
- 3Enter the Years in Retirement you want the money to last, and the Retirement Growth rate once you've retired.
- 4Your Balance at Retirement, Annual Income, Total Contributions and Total Earnings update as you type.
How the retirement calculation works
Calc Pro works in two phases.
Saving. Your current savings grow at the Growth Rate, and each year's contribution is added and grows too. After 25 years at 7%, $50,000 plus $10,000 a year becomes $903,862.01.
Spending. The balance then pays you an equal income each year for the Years in Retirement, while whatever is left keeps growing at the Retirement Growth rate. At 4%, $903,862.01 supports $57,857.98 a year for 25 years.
What makes the biggest difference
- Time. Money invested early compounds for longer, so each year you wait costs more than the year before.
- Growth rate. A couple of percentage points changes the result dramatically over decades. Try your numbers at a few different rates.
- Contributions. Raising your annual contribution helps, and it's the part you control directly.
To plan for a specific target instead, use the Savings Goal Calculator.
Frequently Asked Questions
What growth rate should I use?
It depends on how the money is invested. Many people test a range, for example 5%, 7% and 9%, to see how sensitive the result is. Use a lower Retirement Growth rate if you plan to move to safer investments once you retire.
What does Annual Income mean?
It's the amount the balance can pay you each year for the Years in Retirement you entered, while the remaining money keeps growing at the Retirement Growth rate.
Does it account for inflation?
No, the figures are in future dollars. To see what an amount will be worth in today's money, use the Inflation Calculator.
Is the Retirement worksheet free?
It's free to use here in your browser. In the iPhone and iPad app it's part of Pro Premium.
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Take the Retirement Calculator with you
In Calc Pro for iPhone and iPad, the Retirement Calculator is part of Pro Premium, which unlocks all 23 financial worksheets and every calculator in the app.
Coming soonFree with ads · In-app purchase unlocks the full Pro Premium version
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