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How Much Will I Need?
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Everyone has different needs and income. But inflation affects us all by increasing the amount of money it takes to keep pace with rising prices. In setting your long range goals, it’s helpful to realize you may need more money each year, just to stay even.
How much will I need each year to equal
my current annual income if inflation is steady at 3.0%?
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Current Income
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$30,000
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$40,000
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$50,000
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$60,000
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$75,000
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$100,000
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In 10 years
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$40,317.49
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$53,756.66
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$67,195.82
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$80,634.98
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$100,793.73
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$134,391.64
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In 15 years
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$46,739.02
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$62,318.70
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$77,898.37
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$93,478.04
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$116,847.56
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$155,796.74
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In 20 years
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$54,183.34
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$72,244.45
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$90,305.56
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$108,366.67
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$135,458.34
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$180,611.12
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In 25 years
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$62,813.34
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$83,751.12
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$104,688.90
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$125,626.68
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$157,033.34
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$209,377.79
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In 30 years
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$72,817.87
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$97,090.50
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$121,363.12
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$145,635.75
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$182,044.69
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$242,726.25
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Compare your current income with what you’ll need when you retire. Use that amount to estimate how much you might need over the course of a 15 or 20 year retirement.
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| How Much Will My Current Investments Help? | The answer depends on how much you’ve set aside and how much your investments return. Since investment returns will vary, the following chart is just an example to give you a rough idea. Your results may be more or less.
What would my current investments
be worth if I earned 8.0% return?
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Current Value
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$10,000
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$25,000
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$50,000
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$100,000
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$250,000
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$500,000
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10 years
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$21,589
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$53,973
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$107,946
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$215,892
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$539,731
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$1,079,462
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15 years
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$31,722
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$79,304
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$158,608
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$317,217
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$793,042
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$1,586,085
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20 years
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$46,610
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$116,524
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$233,048
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$466,096
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$1,165,239
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$2,330,479
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25 years
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$68,485
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$171,212
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$342,424
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$684,848
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$1,712,119
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$3,424,238
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30 years
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$100,627
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$251,566
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$503,133
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$1,006,266
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$2,515,664
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$5,031,328
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| How Long Might My Retirement Savings Last? | | The answer will depend on a number of factors, including your investment return, the inflation rate, whether you take unscheduled withdrawals, and how you plan to pay taxes on your investment earnings. Since a $1 million taxable account earning 8% could generate up to $80,000 in taxable income in a single year, taxes are important. You should consult with your tax advisor for more information.
Assuming an 8% investment return and 3% inflation,
how many full years could I afford to live if I retired with these amounts?
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If you retire with >>
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$250,000
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$500,000
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$1,000,000
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$1,500,000
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$2,000,000
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and you need $50,000 in the year you retire
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5 years
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13 years
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66 years
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Forever
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Forever
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and you need $75,000 in the year you retire
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3 years
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7 years
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20 years
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67 years
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Forever
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and you need $100,000 in the year you retire
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2 years
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5 years
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13 years
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25 years
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7 years
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and you need $150,000 in the year you retire
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1 year
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2 years
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7 years
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13 years
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20 years
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For a more information on how long your retirement savings might last or to adjust the inflation or return assumptions found in this table, consult our interactive calculator, Making Retirement Savings Last.
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Glossary of Terms
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Look here for definitions of retirement planning and investment terms.
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