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Playing with retirement numbers

August 17th, 2015 at 01:43 pm

Kiplinger Calculator

Retirement Savings Calculator

Here is an estimate of how much you need to save initially each month to match your retirement nest-egg goal. You will need to increase your savings
in future years to keep pace with inflation. The results below assume 3% annual inflation and 2% annual home appreciation.


Annual Retirement Income In Future Dollars:

$126,360.00



Annual Social Security and Pension Benefits:

$0.00


Nest-Egg Goal:

$3,639,168.00


Projected Future Value of Current Savings:

$287,000.00


How Much You Should Be Saving Each Month:

This amount includes how much you are already
saving plus any employer match

$2,414.00

I took a look at Chris Hogan's R:IQ and I plugged in $50K as an estimate for what I have saved. Plugged in retirement age of 63 and that I'd like to live on $5K/mth.

Here's what I got.
Your R:IQ is:

$2,080,200
What you need to
invest monthly:
$331
Without adding anything else, your current retirement investments should be worth:
$1,256,300
Here’s how much you need to save to reach your R:IQ:
$823,900

It sure looks like a lot.

3 Responses to “Playing with retirement numbers”

  1. PatientSaver Says:

    $5,000 a month is way, way high. Have you sat down to figure, as accurately as possible, what your actual income needs will be in retirement? I think you'll find you can get by on a whole lot less, especially if, as recommended, you retire without the mortgage paid off.

  2. CB in the City Says:

    I agree! I would hardly know what to do with $5K a month! Though I admit my retirement income is much more modest than most would be happy with, it is easily possible to get by on less.

  3. SecretarySaving Says:

    As of now I'm living on $3400/mth with a mortgage. In my retirement years, I plan to travel more. I thought it better to aim higher and not short myself.

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