Ask Terry Questions Retirement calculator

Retirement calculator

By Terry Savage on September 21, 2019 | Financial Planning / Retirement

At age 43 about how much should I have saved up in total (401K + IRA + Savings + ect….) to feel like I’m on the right path to retire in my early 60’s?

Terry Says

Almost every major mutual fund company has a “retirement readiness” calculator on its website.  But my favorite is the one put up by the Employee Benefit Research Institute.  It’s a little tough to find right now because they are rearranging their website.  However, here’s a direct link to the calculator that will tell you how much more you should be saving to reach your retirement goals —  based on your current age, desired retirement age, current savings, current income, your estimates of how your income might grow, and how inflation might impact that process.  Be sure to use at least 3% annual inflation to calculate –even though inflation is low right now!

Recent Financial Planning / Retirement Questions



a personal
finance question