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    Make your targeted changes to save $250

    Everyday changes


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To Maintain Your Lifestyle

Step 1: Figure How Much You'll Need 

Most households need about 75 percent of their current income to maintain their  standard of living as they pay less tax, stop saving for retirement, and pay off the mortgage.

Enter Your Information to see what you'll need

Are you...

Annual Earnings from Work


$ / month

Your Spouse

$ / month

Monthly Contributions to 401(k), IRA, other plans


Monthly Mortgage principal & interest
It usually makes sense to pay off the mortgage once retired.  So our calculation uses your retirement savings to pay off any mortgage you carry into retirement.


Planned Retirement Age
Retirement Age of Older Spouse


Good if you have, or will have, other income or expenses

Other Income such as rents or dividends


Extra Expenses that won't continue, such as tuitions


Monthly Spending in Retirement Change if you expect to spend a higher or lower amount in retirement.

Current Monthly Income

$ 5000

Mortgage $0

Retirement contributions $0

Social Security payroll tax $0

Extra expenses $0

Income Tax $0

Monthly Spending $3875

Retirement Income Target


70% of current income

Added medical expenses$300

Income Tax $0

Monthly Spending $3875

Estimates given in current dollars, so you'll get a better idea of what you'll be able to buy in retirement.
Click to learn more about the assumptions and equations used on this page

Social Security Payroll Taxes:

We assume all current income under the Social Security earnings cap, other than “other income” listed in Advanced, are earnings from work subject to payroll tax.

Income Taxes:

  • We estimate state and federal income taxes at age 65 using data from TaxSim and our estimate of the portion of your Social Security benefits subject to tax. (For more, see Learn About Social Security).

  • If your projected retirement income is less than the income needed to hit your target, we assume the income needed to hit your target will be drawn savings and subject to tax. (Your tax will be less if you get more of your income from Social Security or from downsizing or a reverse mortgage.)

  • Mortgage Payment:

    We pay off the mortgage once you retire, as experts recommend.  See  Learn More.

    Health Care Expenses:

    We estimate a $150 per person monthly increase based on a $200 current expenditure and a $350 expenditure in retirement (Munnell, et al. 2008. Health Care Costs Drive Up the National Retirement Risk Index, Center for Retirement Research, Issue Brief 8-3).