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How Much Do I Need at Retirement?

Before you can determine how much you need to save today to reach your future financial goals, you may first want to get an idea of how much income you'll need to meet your expenses during retirement. Here are a few quick tips to help you learn what your retirement income needs may be:

  • Estimate the percentage of your working income you'll need to replace, think about the age at which you expect to retire, and consider how long you'll need your retirement income to last.
  • Save as much as you can today and take advantage of catch-up paycheck contributions, as available, to boost your savings in the years leading up to retirement.
  • Consider consolidating assets from other eligible accounts into your current employer plan, if allowed, to potentially simplify your savings strategy and stay on track toward your retirement goals. You are encouraged to discuss rolling money from one account to another with your financial advisor/planner and to consider any potential fees and/or limitations of available investment options.

Tools and Resources

To help you understand how much you’ll need to save to meet your retirement income goals—and the impact that saving will have on your financial situation—you can use the following calculator:

  • Retirement Planner – Develop a realistic plan for your future retirement expenses and the income you’ll need to achieve the retirement lifestyle you want.

Saving for retirement is one part of your overall financial picture, and it helps to understand how the actions you take today affect your current and future finances. You can use this calculator at any time to clarify your goals and develop a personalized strategy for achieving the retirement you want.


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