How much you need to retire depends mostly on one thing: how much you plan to spend each year. A common rule of thumb is 25 times the yearly income your savings must provide. Enter your numbers below for your own retirement number and the year you'll reach it.
How your retirement number is calculated
Retirement number = (yearly spending − yearly Social Security) ÷ withdrawal rate
For example, if you want $60,000 a year and expect $24,000 a year from Social Security, your savings need to provide $36,000. At a 4% withdrawal rate: $36,000 ÷ 0.04 = $900,000.
Want the background? Read the 4% rule explained.
If you retire before Social Security starts, you also need enough to cover those years. The calculator above adds that automatically.
Ways to need less
- Spend less in retirement. Every $1,000/year you cut lowers your number by $25,000.
- Delay Social Security. Waiting past full retirement age, up to 70, increases your monthly check.
- Retire a little later. You’ll have more saved, a shorter retirement to fund, and Social Security starts sooner after you retire.
Frequently asked questions
What is the 25x rule?
The 25x rule says you need 25 times your yearly retirement spending (after Social Security and pensions) to retire. It comes from the 4% rule: withdrawing 4% of your savings in the first year, then adjusting for inflation, historically lasted about 30 years. 1 ÷ 0.04 = 25.
How much of my current income will I need in retirement?
Many planners use 70–80% of your pre-retirement income as a starting point, since you'll no longer be saving for retirement and some work costs go away. Your actual budget is better: add up what you expect to spend each year, including health care.
Does Social Security reduce how much I need?
Yes, a lot. Every $1,000/month of Social Security covers $12,000 a year of spending, which cuts your savings target by about $300,000 at a 4% withdrawal rate. Get your personal estimate from your my Social Security account at ssa.gov.
Is $1 million enough to retire?
Using the 4% rule, $1 million supports about $40,000 a year of spending, before Social Security. Add a typical Social Security benefit and that's often enough for a comfortable retirement, depending on where you live and when you retire.
Why is my number in today's dollars?
Prices rise over time, so $1 million in 30 years will buy less than it does now. We show everything in today's dollars, adjusted for inflation, so the numbers mean what they seem to mean.