This calculator will help you to estimate the amount of money you will need to have saved by retirement age in order to meet your desired retirement income goals -- along with estimating how much you need to be setting aside now in order to fully fund your plan. You have the option of factoring in inflation, up to three post-retirement incomes, and a one-time benefit (sale of home, etc.). You can also print out retirement planning reports for any number of what-if scenarios.
Clicking in any field will display help and special instructions in the right-hand column.
Current San Diego Deposit Interest Rates
We publish current San Diego savings & CD rates. Savers can use the filters at the top of the table to adjust their initial deposit amount along with the type of account they are interested in: high interest savings, certificates of deposit, money market accounts and interest bearing checking accounts.
Retirement Planning is Not Impossible
The carrot at the end of the stick for many modern workers is the prospect of one day letting work-life go, in favor of retirement. Recognized standards exist, providing guidelines for making it happen, but retirement is not tied to any specific age or approach. As a result, planning for retirement and analyzing where you stand at any given point are important considerations throughout your life, even if retirement dates are well in the future.
There are a number of factors to consider while planning for retirement, including when you'd like to step away from work, how much money you'd like to have on hand, and what your income streams will be after leaving your employment roles. Retirement calculator provides specific feedback for individuals trying to make sense of their retirement futures, allowing comprehensive inputs about current and future finances.
Retirement Variables to Consider as You Plan
While there is no concrete point at which individuals must retire, the notion is nonetheless an age-related concern. To utilize the retirement calculator, certain age parameters must be plugged-in. Your current age, for example, provides a reference point from which to gauge future saving ability and other factors.
The age at which you plan to retire must also be determined, so that a finite period of analysis is established. Retirement calculations can be adjusted to reflect various scenarios, so don't feel locked-in to your retirement age selection. There is a good chance life's unpredictability will alter your retirement path along the way, so flexible calculations provide information to compare and contrast.
To measure the spending power of retirement savings, calculations include a life expectancy requirement, so you'll know how many years are to be funded by your nest egg. Of course it is impossible to predict your expiration date, so generalizations must be made instead. For example, common longevity of close family members is indicative of the number of years you might survive, so choosing a ballpark figure based on genetics provides a good reference point for retirement calculations.
The next most important concerns relate to the amount of income you require for each year of retirement, as well as the value of the estate you leave behind at the time of your death. The retirement calculator even allows for inflation indexes to be added to your retirement equation, accounting for the increased cost of goods impacting future purchases.
Once you know how much you'll need and when you'll need it, attention turns to funding your expectations. By considering the total balance of your retirement account, and the number of years you'll continue to make regular contributions, it is possible to extrapolate the funding potential of your current approach. That way, adjustments can be made, perhaps setting aside additional savings to fill shortcomings between your goals and your present trajectory each month.
One-time benefits, like profits from the sale of your home, also provide important contributions toward retirement. The calculator allows multiple inputs for precisely these types of windfalls. Retirement income furnishes the final critical piece required for evaluation, illustrating cash flow created by pensions, social security payments, and other retirement income streams.