We would all like to maintain a certain standard of living in retirement. Use this calculator to understand the effects of inflation on the income level you will need as you approach retirement.
Enter your current age.
Enter the age at which you wish to retire.
Enter the age you expect to live to.
Current Annual Income
Enter your current annual income.
Enter the inflation rate you want to use for these calculations. The historical average is 2-3%.
Percentage of Income Needed at Retirement
Enter the percentage of your current income you think you will need at retirement.
In order to maintain your standard of living during retirement with
of your current income, you will need the following inflation adjusted retirement
If You Retired Today
Your inflation adjusted income requirements if you retired today.
Income Needed At Retirement
Inflation adjusted income you will need at retirement.
Income You Need At Life Expectancy
Inflation adjusted income you will need at life expectancy.
IRS.gov's "Retirement Plans Community"
provides several retirement planning resources, including a cost-of-living increase
WSJ.com's "Retirement Planning" section
offers articles on all aspects of retirement planning, including 401(k)s, investing,
and other ways to supplement social security benefits.
U.S Department of Labor's "Taking the Mystery Out of Retirement Planning"
is an online booklet that includes interactive worksheets. Download the fully illustrated
62-page Adobe PDF narrative or call to order copies.