Department of Labor Federal Credit Union

How Much Will I Need To Save For Retirement?

Most Americans are not saving enough for retirement. Start planning now to ensure you are able to maintain your lifestyle and retire at your desired age.

Personal Information

Current Age:
Retirement Age:
Life Expectancy:

Financial Information

Current Annual Income:
Percentage of Income Saved:
Wage Growth Percentage:
Current Retirement Savings:
Pre-Retirement Rate of Return:
Post-Retirement Rate of Return:
Inflation Rate:

Retirement Information

Income Needed at Retirement:
Other Yearly Retirement Income:
Yearly Social Security Income:

Current Age

Enter your current age.

Retirement Age

Enter the age at which you wish to retire.

Life Expectancy

Enter the age you expect to live to.

Current Income

Enter your current income.

Percentage of Income You Save

Enter the percentage of income you save annually towards retirement.

Wage Growth Percentage

Enter the percentage by which you expect your wages to grow. Typically, 3% - 5% per year.

Current Retirement Savings

Enter the amount you currently have saved for retirement.

Inflation Rate

Enter the inflation rate you want to use for these calculations. The historical average is 2-3%.

Pre-Retirement Rate of Return

Enter the rate of return you expect to achieve on your pre-retirement investments.

Post-Retirement Rate of Return

Enter the rate of return you expect to achieve after retirement on your investments.

Percentage of Income Needed at Retirement

Enter the percentage of your current income you think you will need at retirement.

Other Retirement Income (Yearly)

Enter any other annual income you will receive at retirement besides your savings. For example: pensions, trusts, etc.

Yearly Social Security Income

Enter the annual social security income you will receive your first year of retirement. You can find this information on your yearly social security statement.


Department of Labor Federal Credit Union

Serving employees and contractors who work for the Department of Labor, their families and associated organizations. See website for details.

200 Constitution Ave
Rm S-3220
Washington, DC 20210-0001
(202) 789-2901

CULookUp - Sponsored by NAFCU Services

CULookup.com - Sponsored by NAFCU

Copyright 2015 by NAFCU Services Corporation Terms of Use Privacy