Use this calculator to help you create your retirement plan. View your retirement savings balance and your withdrawals for each year until the end of your retirement. Social security is calculated on a sliding scale based on your income. Including a non-working spouse in your plan increases your social security benefits up to, but not over, the maximum.
Age you wish to retire. This calculator assumes that the year you retire you do not make any contributions to your retirement savings. So if you retire at age 65, your last contribution happened when you were actually age 64. This calculator also assumes that you make your entire contribution at the end of each year.
Household income
Your total household income. If you are married this should include your spouse's income.
Current retirement savings
Total amount that you currently have saved toward your retirement. Include all sources of retirement savings such as 401(k)s, IRAs and Annuities
Pre-retirement rate of return
This is the annually compounded rate of return you expect from your investments before taxes. The actual rate of return is largely dependant on the type of investments you select and the market conditions experienced over the life of your investment. For the purposes of this calculator taxation is not factored into the results.
Post-retirement rate of return
This is the rate of return expected during retirement. It is often lower than the return earned before retirement due to more conservative investment choices to help insure a steady flow of income.
Percent of income to contribute
The percentage of your annual income you will save for your retirement goals.
Expected salary increase
Annual percent increase you expect in your household income.
Years until retirement
Number of years before retirement.
Years of retirement income
Total number of years you expect to use your retirement income.
Percent of income at retirement
The percent of your working year's household income you think you will need to have in retirement. This amount is based on your income earned during the last year you will work. The default is 90%. You can change this amount to be as low as 50% and as high as 150%.
Are you married?
Check this box if you are married. Married couples have a higher maximum social security benefit than single wage earners.
Include social security?
Check this box if you wish to include social security benefits in your retirement planning.
Expected rate of inflation
What you expect for the average long term inflation rate. This has been calculated by the Consumer Price Index from 1925 to 2002 to be 3.1%.
The rate of return used to calculate projections is hypothetical and selected by the person entering the data. It does not represent the performance of any specific security and there is no guarantee that the selected rate of return can be achieved. Please note that as the potential rate of return increases, so does the risk of losing some or all of your principal investment.
This retirement calculator is intended to serve as an educational tool only and should not be considered investment advice nor used as a tool for investment decision making. The effect of taxes has not been considered in any example. We recommend you contact either your tax advisor or financial advisor who can assess your situation and offer more personal financial advice.
Invesco AimSM is a service mark of Invesco Aim Management Group, Inc. Invesco Aim Advisors, Inc., Invesco Aim Capital Management, Inc., Invesco Aim Private Asset Management, Inc. and Invesco PowerShares Capital Management LLC are the investment advisors for the products and services represented by Invesco Aim; they each provide investment advisory services to individual and institutional clients and do not sell securities. Please refer to each fund’s prospectus for information on the fund’s subadvisors. Invesco Aim Distributors, Inc. is the U.S. distributor for the retail mutual funds, exchange-traded funds and institutional money market funds and the subdistributor for the STIC Global Funds represented by Invesco Aim. All entities are indirect, wholly owned subsidiaries of Invesco Ltd.
