Simple, Realistic Retirement Calculator: Determine your retirement age

At Hendershott Wealth Management, we’re familiar with the perennial questions: 

  • How much do I need to retire?
  • How much should I be saving for retirement?
  • How can I maximize my retirement savings and also plan for immediate financial needs?

Every day, we’re helping our clients not just answer these questions, but work toward true financial freedom: That moment when your assets or business interests can replace your earned income for the rest of your life and you can work if you want to, not because you have to.

Use the retirement calculator below to determine what your monthly income during retirement looks like based on your current investment portfolio.

Then, get in touch with our team via a complimentary get-to-know-you call, and see what it’s like to have an attentive, empathetic, and goals-based financial planner on your side who has strategized and managed diversified investment portfolios to meet both the present and future needs for women and couples across all 50 states.

  • This is a basic retirement income calculator and does not include all of your personalized inputs.
  • The calculation of Monthly income during retirement is calculated as a 4% annual withdrawal of the retirement savings balance.
  • When comparing the monthly income during retirement to your current earnings, keep in mind that you’ll likely have pay increases between now and retirement and inflation will lower what this is worth in today’s dollars. Neither of those are accounted for in this calculator. Additionally, your social security income and any other income (for example from pensions) are also not included in this number. A common way to calculate what you may need in retirement is that you’ll need approximately 70% of your pre-retirement income in retirement. Of course, your needs may be different.
  • All investing involves risk, including the potential loss of principal. There is no guarantee that any investment plan or strategy will be successful. Advisory services provided by Hendershott Wealth Management, LLC (“HWM”), an investment advisor registered with the U.S. Securities and Exchange Commision. Registration does not imply a certain level of skill or training.
  • All written content in this article is for information purposes only. Opinions expressed herein are solely those of HWM, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.