How it works
First it finds the yearly gap your other income doesn't cover, then calculates the nest egg that — invested at your return — would fund that gap for your full retirement.
Who this is for
Anyone who wants a single target savings number to aim for, based on the income Social Security and pensions won't cover.
Worked example
Wanting $60,000 a year in retirement with $24,000 covered by Social Security leaves a $36,000 annual gap. Funding that gap for 25 years at a 5% return requires a nest egg of roughly $513,000 — that's the target this calculator is solving for.
Frequently asked questions
Should I count Social Security as guaranteed? Most planners do, though it's worth using a slightly conservative estimate of your benefit if you're years from claiming.
Does this number account for inflation? No — it's a today's-dollars estimate; see the inflation-adjusted calculator to see how rising costs change the picture.
What if I retire earlier or later than planned? More retirement years raises the target meaningfully — rerun the numbers with different ages before committing to a date, and see when should you retire for the fuller framework.