How much do I need to retire?
The honest answer starts from the other end: decide the monthly income you want, and the pot follows from it. That is how this calculator works - you give it the lifestyle, it gives you the number.
Compare top retirement accounts
We explain exactly what to compare before you open anything - costs, protection and the traps.
Work backwards from spending
Take your current monthly spending, remove the costs that end with work or with the mortgage, add anything retirement adds such as travel or healthcare, and you have a target income in today's money.
Multiply the annual version by 25 for a 4% withdrawal rate, or by about 28.5 for a more cautious 3.5%. That is your pot in today's money. The calculator then inflates it to the year you retire, which is why the target figure looks larger than the rule of thumb suggests.
Three levers, and only three
If the readiness score is short, exactly three things can move it: save more each month, retire later, or plan to spend less. Returns are not a lever - assuming a higher rate does not make it happen.
The insight panel quantifies the first two on your own numbers, so you can see which one is doing the heavy lifting before you commit to it.
Frequently asked questions
What percentage of my income will I need in retirement?
Common planning figures run from 70% to 80% of pre-retirement income, but your own budget beats any rule of thumb. Housing status makes the largest single difference.
Should the target be in today's money or future money?
Think in today's money and let the tool handle inflation. Enter the income you want at today's prices; the gap analysis inflates it for you.
How does inflation change the answer?
At 2.5% a year, prices roughly double over 28 years. A target that looks generous today is merely adequate three decades out, which is what the inflation chart shows.
What about healthcare costs?
In countries without comprehensive public cover this is often the largest single retirement expense. Add a realistic monthly figure to your target income rather than hoping it is absorbed.
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