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Retirement Planner Calculator

This Retirement Planner Calculator helps you estimate how much additional capital you need to accumulate before retirement to cover income gaps.

Retirement Gap and Savings Goal Estimator

Input Fields
$
Enter how much you currently have saved
years
Enter how many years until you plan to retire
$
Enter your desired annual income during retirement
$
Enter expected passive annual income (e.g. pension, rent)

Retirement Income Gap Planning Formulas

Formula
\[ \text{Needed Income} = \text{Annual Income at Retirement} \] \[ \text{Additional Needed} = \text{Needed Income} – \text{Passive Income} \] \[ \text{Additional Principal Now} = \text{Additional Needed} \times \text{Years Until Retirement} \]

Where:

  • $$Needed Income$$ = Target annual income in retirement
  • $$Passive Income$$ = Income expected from pensions, social security, or rental income
  • $$Additional Needed$$ = Annual shortfall to be covered
  • $$Years Until Retirement$$ = Number of years left before retirement
  • $$Additional Principal Now$$ = Extra capital needed today to close the income gap


Retirement Planner – Calculation Example

Let’s say:

  • You want $60,000 annual income in retirement
  • You expect $25,000 passive income
  • You have 15 years until retirement

Calculation:

  1. $$\text{Needed Income} = 60,000$$
  2. $$\text{Additional Needed} = 60,000 – 25,000 = 35,000$$
  3. $$\text{Additional Principal Now} = 35,000 \times 15 = 525,000$$

So, you need to accumulate $525,000 additionally before retirement to meet your income goals.


The Retirement Planner Calculator helps you identify shortfalls between your expected passive income and your retirement income goal. It calculates how much more you need to save before retirement to close this gap. It’s a useful tool for planning early and adjusting saving strategies accordingly.

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