How much do I need to retire at 55 or 65? Scenario calculator

Choose funding assets you actually intend to use. Exclude a home or collection if you do not plan to sell it. Keep emergency reserves separate if they are not part of the spending pool. See which assets count toward financial independence.

Annual spending should include the costs this portfolio must cover, including housing, healthcare and debt payments. This calculator does not model pension or Social Security start dates, tax bands, benefits, or one-off costs. If expected income begins later in retirement, simply subtracting it from every year’s spending would overstate the help it provides.

Enter contributions and spending in today’s money. The model assumes both rise with inflation in nominal terms. A fixed nominal contribution would buy less over time and produce a different result.

The monthly real growth rate is [(1 + annual nominal return) ÷ (1 + annual inflation)] raised to 1/12, minus 1. Percentage inputs are converted to decimals first. Annual nominal return is an effective rate after investment fees.

Before retirement, the current funding balance grows each month and the contribution is added at month-end. At retirement, contributions stop. The required balance is the present value of equal monthly spending, taken at month-end, through the chosen final age.

For monthly real rate r and n months in retirement, required assets equal (annual spending ÷ 12) × [1 − (1 + r) raised to −n] ÷ r. If r is zero, it is simply monthly spending × n.

For example, €24,000 annual spending for 30 years requires €720,000 when nominal return and inflation are equal. The calculation ends with zero remaining assets. There is no inheritance allowance or extra safety reserve.

The lower and higher scenarios change nominal return by two percentage points, keeping inflation and other inputs fixed. They are sensitivity checks, not confidence intervals or likely market outcomes. Investor.gov’s compound-interest calculator provides another way to explore contributions and changing growth assumptions.

A constant return hides market losses and their timing. Withdrawing during a downturn can produce a very different path even when long-run average returns look similar. Inflation, taxes, lifespan and spending can also change. This tool does not calculate a probability of success or recommend an investment allocation.

Planning only through a chosen age does not protect against living longer. Try a longer horizon and less favourable assumptions. Include costs outside the model separately and seek qualified advice before making a retirement decision.

Wealth Watcher helps maintain the underlying assets, debts and goals. This standalone website calculator does not reproduce every app planning feature and does not save a plan to your account.

With the same final age, stopping contributions at 55 leaves ten fewer years to add money and ten more years of spending than stopping at 65. The effect depends on the other assumptions; change the retirement-age input and recalculate to see it.

Neither age determines pension eligibility. Check the rules and account-access dates that apply to you. Keep a bridge for years before any pension or other income begins.