Pension & Retirement Calculator (USA)

Use our Pension & Retirement Calculator to estimate your retirement corpus, monthly pension, and retirement age. Plan your financial future with clarity and confidence!

Retirement Information
Average US life expectancy is about 79 years
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Retirement Accounts
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$
$
$
$
Conservative estimate: 4-6%
Social Security Benefits
$
Check your Social Security statement
Pension Plans
Retirement Expenses
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In today's dollars
Historical average: ~3%
Current brackets: 10%-37%
Advanced Options

Understanding Retirement Planning

Social Security: Average benefit is ~$1,500/month at full retirement age (67 for those born 1960 or later).

401(k) Contribution Limits: $22,500/year ($30,000 if 50+) in 2023.

IRA Contribution Limits: $6,500/year ($7,500 if 50+) in 2023.

Safe Withdrawal Rate: 4% is commonly used to make savings last 30+ years.

Medicare Eligibility: Begins at age 65, with Part A (hospital) typically free if you paid Medicare taxes.

By Age 30: 1x annual salary saved

By Age 40: 3x annual salary saved

By Age 50: 6x annual salary saved

By Age 60: 8x annual salary saved

Retirement Goal: 10-12x annual salary saved by retirement age

These benchmarks assume retirement at 67 and 80% income replacement.

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Retirement Age Impact
Retirement Age Social Security Savings Needed
62 (Early) 70% of FRA More
67 (FRA) 100% Standard
70 (Delayed) 124% of FRA Less
Delaying retirement reduces the savings needed but requires working longer.
Retirement Savings Tips
  • 1. Contribute enough to get full 401(k) match
  • 2. Max out IRA contributions annually
  • 3. Increase contributions with raises
  • 4. Consider Roth options for tax-free growth
  • 5. Diversify investments across asset classes
Social Security Strategies
  • 1. Delay benefits to increase payout
  • 2. Coordinate benefits with spouse
  • 3. Consider tax implications
  • 4. Check earnings record annually
  • 5. Understand how working affects benefits
Healthcare in Retirement
  • 1. Medicare starts at 65
  • 2. Budget for premiums and out-of-pocket
  • 3. Consider Medigap or Advantage plans
  • 4. Plan for long-term care needs
  • 5. HSAs can be powerful savings tools