Retirement Calculator Guide 2026: 401k, Roth IRA & Savings Planning
A retirement calculator projects how much money you will have at retirement based on your current savings, contribution rate, employer match, investment returns, and target retirement age.
How Much Do You Need to Retire?
A retirement calculator estimates how much you need to save based on your desired retirement income, expected Social Security benefits, and investment growth. The most common benchmark is the "25x rule" — you need 25 times your annual retirement spending saved to retire safely.
According to the Social Security Administration, the average monthly Social Security benefit is approximately $1,907 ($22,884/year). If you need $60,000/year in retirement, you'll need to cover the remaining $37,116/year from savings — requiring approximately $928,000 at a 4% withdrawal rate.
401k vs Roth IRA: Which to Prioritize
| Feature | Traditional 401k | Roth IRA |
|---|
| 2026 Contribution Limit | $23,500 | $7,000 |
| Tax Benefit | Tax-deductible now, taxed at withdrawal | After-tax contributions, tax-free withdrawals |
| Employer Match | Yes (free money) | No |
| Required Distributions | Age 73 | None |
| Best For | High earners expecting lower tax bracket in retirement | Lower earners or those expecting higher taxes later |
Calculate your 401k growth and compare with a Roth IRA to see which fits your situation.
Retirement Savings Tips Most People Overlook
- The power of starting early: $500/month starting at age 25 grows to ~$1.1M by 65 (at 7% returns). Starting at 35 yields only ~$567,000 — roughly half. Every decade you wait cuts your retirement wealth by approximately 50%.
- Catch-up contributions after 50: You can contribute an extra $7,500/year to your 401k after age 50 ($31,000 total in 2026). Use this aggressively if you started saving late.
- HSA as a retirement vehicle: Health Savings Accounts offer triple tax benefits — deductible contributions, tax-free growth, and tax-free medical withdrawals. After age 65, HSA funds can be used for any expense (taxed like a traditional IRA).
- The 4% rule: Withdraw 4% of your portfolio in year one, then adjust for inflation annually. A $1M portfolio supports ~$40,000/year. Longer retirements (30+ years) may need a 3.5% rate for safety.
Frequently Asked Questions
- How much should I have saved for retirement by age 30?
- A common benchmark is 1x your annual salary saved by age 30. If you earn $60,000, aim for $60,000 in retirement savings. Fidelity recommends this milestone as a sign you are on track for retirement at age 67.
- Is $1 million enough to retire?
- Using the 4% rule, $1 million supports approximately $40,000/year in retirement spending. Combined with average Social Security ($22,884/year), total income would be about $63,000/year. Whether this is enough depends heavily on your location, lifestyle, and healthcare costs.
- What is the best retirement account?
- For most workers: contribute to 401k up to the employer match first (free money), then max out Roth IRA ($7,000/year in 2026), then increase 401k contributions. High earners in states with no income tax may prefer traditional 401k for the immediate tax deduction.
- When can I retire?
- You can retire when your investment portfolio, Social Security, and other income sources cover your annual spending. Using the 25x rule: multiply your annual expenses by 25. If you spend $50,000/year, you need $1.25 million saved (minus expected Social Security benefits).
Related Calculators
Browse all 311+ free online calculators