To get started, enter your info to see where you stand on your dream retirement.
Be sure to connect to one of our financial planners if you have more questions!
Our retirement calculator assumes a 3% inflation rate, an increase in your salary of 2%
each year, and a 5% rate of return on your retirement investments.
Want to boost your preparation for the future? Think about an individual retirement
account, or IRA. They’re tax-advantaged and a great way to save.
Keep in mind that the annual limit on contributions to a 401(k) is $20,500, and $6,000
for an IRA.
If you’re wondering how much is enough, try aiming to replace 70% of your salary
before retirement. This can be done through savings, investments, and social security.
What you spend money on will likely change in retirement, as some of your debts will be
taken care of by then. You’ll probably spend less on taxes too!
Be sure to adjust the percentage as needed. If you’re thinking about lots of vacations,
you may want to replace even more of your pre-retirement annual income.
To use the retirement calculator, put in your age, income, savings balance, and your
monthly savings goals. The calculator will assume a 2% salary increase and a 3%
inflation rate.
Want to play around with more settings? Just click on the options to adjust things like
retirement age, when you want to start saving, and spending levels.
Not everyone is lucky enough to have financial planners as parents, but that’s what Money Her Way is here for. We want to give every woman, no matter their age, the opportunity to take control of her finances.