Retirement Calculators

Retirement planning is an essential step in a person's overall financial picture. Evaluate your level of preparedness and start making plans to better your situation with this calculator. Reevaluate your preparedness on an ongoing basis. Changes in the economic climate, inflation, achievable returns and your personal situation will affect your plan.

One method of retirement planning is to project what you are currently saving and have already accumulated to see if you will have enough to meet your retirement objectives. Use this retirement planning calculator to determine when/if the money will run out during retirement and it will recommend additional savings if required.

Your retirement income can vary widely depending on what type of account holds your savings and what assumptions you make about return and tax rates during the accumulation and withdrawal periods. Use this calculator to help compare employee contributions to the after-tax Roth 401(k) and the current tax-deductible 401(k).

Before you establish a contribution amount, you'll want to determine the impact of taking full advantage of your employer's matching contributions. If, for example, your contribution percentage is so high that you reach the current $23,000 limit in the first few months of the year (or $30,500  limit for those 50 years or older), you've probably maximized your contribution but minimized your employer's matching contribution. Use our 401(k) matching calculator to estimate how much to contribute.

*Based on 2024 federal limits.

Your living expenses may increase or decrease at retirement but will likely not stay the same. You may travel more, reduce business expenses such as eating out and transportation costs, perhaps your house will be paid off. Use this calculator to help compare living expenses now from the day you retire. This will also help you to plan your saving requirements for the day you retire.

Some retirement plans include the option for qualifying participants to take a loan against their retirement account balance. Some people borrow from their retirement plan to pay off high-interest debt, others to make a major purchase. While the borrowing rates may be favorable (typically 1-2% above the prime rate), you'll need to consider the impact on your future retirement earnings. Use this retirement account loan calculator to make a more informed decision.

Keep in mind that if you elect to suspend ongoing contributions to the plan during the loan repayment period, you risk further impact to your future retirement account balance. This analysis does not take into account any loan initiation fees that might apply. It also does not consider the impact of taking a withdrawal from the plan for financial hardship (purchase of a primary residence, college tuition, funeral expenses, etc.). Contact your plan administrator for details on the loan and withdrawal options available to you.

It may surprise you how much your retirement accumulation can grow simply by saving a small percentage of your salary each month in your 401(k) plan. Use our retirement savings calculator to estimate how much your plan could accumulate.

A penny saved is a penny earned, but a penny saved today is a penny potentially earning more. Use this calculator to determine how much more you could accumulate at retirement by beginning your savings plan today rather than waiting.