.retirement-calculator-container {
font-family: 'Segoe UI', Tahoma, Geneva, Verdana, sans-serif;
max-width: 700px;
margin: 20px auto;
padding: 25px;
border: 1px solid #e0e0e0;
border-radius: 10px;
background-color: #f9f9f9;
box-shadow: 0 4px 12px rgba(0, 0, 0, 0.08);
}
.retirement-calculator-container h2 {
text-align: center;
color: #2c3e50;
margin-bottom: 25px;
font-size: 1.8em;
}
.retirement-calculator-container .input-group {
margin-bottom: 18px;
display: flex;
flex-direction: column;
}
.retirement-calculator-container label {
margin-bottom: 8px;
color: #34495e;
font-weight: bold;
font-size: 0.95em;
}
.retirement-calculator-container input[type="number"] {
width: calc(100% – 20px);
padding: 12px;
border: 1px solid #ccc;
border-radius: 6px;
font-size: 1em;
box-sizing: border-box;
transition: border-color 0.3s ease;
}
.retirement-calculator-container input[type="number"]:focus {
border-color: #007bff;
outline: none;
box-shadow: 0 0 5px rgba(0, 123, 255, 0.2);
}
.retirement-calculator-container button {
display: block;
width: 100%;
padding: 14px;
background-color: #28a745;
color: white;
border: none;
border-radius: 6px;
font-size: 1.1em;
font-weight: bold;
cursor: pointer;
transition: background-color 0.3s ease, transform 0.2s ease;
margin-top: 25px;
}
.retirement-calculator-container button:hover {
background-color: #218838;
transform: translateY(-2px);
}
.retirement-calculator-container .result {
margin-top: 30px;
padding: 20px;
border: 1px solid #d4edda;
border-radius: 8px;
background-color: #e9f7ef;
color: #155724;
font-size: 1.05em;
line-height: 1.6;
word-wrap: break-word;
}
.retirement-calculator-container .result p {
margin-bottom: 10px;
}
.retirement-calculator-container .result p:last-child {
margin-bottom: 0;
}
.retirement-calculator-container .result strong {
color: #0a3612;
}
.retirement-calculator-container .result .warning {
color: #856404;
background-color: #fff3cd;
border-color: #ffeeba;
padding: 10px;
border-radius: 5px;
margin-top: 15px;
}
.retirement-calculator-container .result .success {
color: #155724;
background-color: #d4edda;
border-color: #c3e6cb;
padding: 10px;
border-radius: 5px;
margin-top: 15px;
}
@media (max-width: 600px) {
.retirement-calculator-container {
padding: 15px;
}
.retirement-calculator-container h2 {
font-size: 1.5em;
}
.retirement-calculator-container input[type="number"],
.retirement-calculator-container button {
font-size: 0.95em;
padding: 10px;
}
}
function calculateRetirement() {
// Get input values
var currentAge = parseFloat(document.getElementById("currentAge").value);
var desiredRetirementAge = parseFloat(document.getElementById("desiredRetirementAge").value);
var currentSavings = parseFloat(document.getElementById("currentSavings").value);
var annualSavingsContribution = parseFloat(document.getElementById("annualSavingsContribution").value);
var desiredAnnualRetirementIncome = parseFloat(document.getElementById("desiredAnnualRetirementIncome").value);
var inflationRate = parseFloat(document.getElementById("inflationRate").value) / 100;
var preRetirementReturn = parseFloat(document.getElementById("preRetirementReturn").value) / 100;
var postRetirementReturn = parseFloat(document.getElementById("postRetirementReturn").value) / 100;
var lifeExpectancy = parseFloat(document.getElementById("lifeExpectancy").value);
var resultDiv = document.getElementById("retirementResult");
resultDiv.innerHTML = ""; // Clear previous results
// Validate inputs
if (isNaN(currentAge) || isNaN(desiredRetirementAge) || isNaN(currentSavings) || isNaN(annualSavingsContribution) ||
isNaN(desiredAnnualRetirementIncome) || isNaN(inflationRate) || isNaN(preRetirementReturn) ||
isNaN(postRetirementReturn) || isNaN(lifeExpectancy) ||
currentAge <= 0 || desiredRetirementAge <= currentAge || currentSavings < 0 || annualSavingsContribution < 0 ||
desiredAnnualRetirementIncome <= 0 || lifeExpectancy <= desiredRetirementAge) {
resultDiv.innerHTML = "Please enter valid positive numbers for all fields. Desired Retirement Age must be greater than Current Age, and Life Expectancy must be greater than Desired Retirement Age. Desired Annual Retirement Income must be greater than 0.";
return;
}
var yearsToRetirement = desiredRetirementAge – currentAge;
var targetWithdrawalYears = lifeExpectancy – desiredRetirementAge;
// 1. Calculate Future Value of Current Savings (FV_CS)
var fvCurrentSavings = currentSavings * Math.pow(1 + preRetirementReturn, yearsToRetirement);
// 2. Calculate Future Value of Annual Contributions (FV_AC)
var fvAnnualContributions = 0;
if (preRetirementReturn === 0) {
fvAnnualContributions = annualSavingsContribution * yearsToRetirement;
} else {
fvAnnualContributions = annualSavingsContribution * ((Math.pow(1 + preRetirementReturn, yearsToRetirement) – 1) / preRetirementReturn);
}
// 3. Calculate Total Savings at Retirement (TSR)
var totalSavingsAtRetirement = fvCurrentSavings + fvAnnualContributions;
// 4. Calculate Future Desired Annual Retirement Income (FDARI)
var futureDesiredAnnualRetirementIncome = desiredAnnualRetirementIncome * Math.pow(1 + inflationRate, yearsToRetirement);
// Display intermediate results
resultDiv.innerHTML += "Projected Savings at Retirement: $" + totalSavingsAtRetirement.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + "";
resultDiv.innerHTML += "Future Value of Desired Annual Retirement Income: $" + futureDesiredAnnualRetirementIncome.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + " (This is your target annual withdrawal in future dollars)";
// 5. Calculate how many years savings will last (NPER for withdrawals)
var yearsSavingsWillLast;
if (postRetirementReturn === 0) {
yearsSavingsWillLast = totalSavingsAtRetirement / futureDesiredAnnualRetirementIncome;
} else {
var term = (totalSavingsAtRetirement * postRetirementReturn) / futureDesiredAnnualRetirementIncome;
if (term >= 1) { // Interest earned covers or exceeds withdrawal
yearsSavingsWillLast = Infinity;
} else {
yearsSavingsWillLast = -Math.log(1 – term) / Math.log(1 + postRetirementReturn);
}
}
resultDiv.innerHTML += "Your savings are projected to last approximately: " + (isFinite(yearsSavingsWillLast) ? yearsSavingsWillLast.toFixed(2) + " years" : "Indefinitely") + "";
// Compare with target withdrawal years
if (isFinite(yearsSavingsWillLast)) {
if (yearsSavingsWillLast < targetWithdrawalYears) {
var ageRunOut = desiredRetirementAge + yearsSavingsWillLast;
resultDiv.innerHTML += "Warning: Your savings may run out by approximately age " + ageRunOut.toFixed(1) + " (" + (targetWithdrawalYears – yearsSavingsWillLast).toFixed(1) + " years short of your life expectancy).";
// Calculate how much more is needed at retirement
var remainingYearsNeeded = targetWithdrawalYears – yearsSavingsWillLast;
var capitalNeededForRemainingYears = futureDesiredAnnualRetirementIncome * ((1 – Math.pow(1 + postRetirementReturn, -remainingYearsNeeded)) / postRetirementReturn);
resultDiv.innerHTML += "To cover your desired income until age " + lifeExpectancy + ", you would need an additional $" + capitalNeededForRemainingYears.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2}) + " at retirement.";
} else {
resultDiv.innerHTML += "Great News: Your savings are projected to last until at least your life expectancy of " + lifeExpectancy + " years!";
}
} else { // Savings last indefinitely
resultDiv.innerHTML += "Excellent: Your projected savings and investment returns are sufficient to provide your desired annual income indefinitely!";
}
}
Easy Retirement Calculator
Understanding Your Retirement Future with the Easy Retirement Calculator
Planning for retirement can feel overwhelming, but it doesn't have to be. Our Easy Retirement Calculator is designed to give you a quick, clear snapshot of your potential retirement future. By inputting a few key details, you can estimate how long your current savings and contributions might last, helping you make informed decisions today.
How the Calculator Works
This calculator takes into account several important factors to project your retirement savings and how they might sustain your desired lifestyle:
- Current Age: Your age today.
- Desired Retirement Age: The age you plan to stop working.
- Current Retirement Savings: The total amount you have saved for retirement so far.
- Annual Savings Contribution: How much you plan to save each year until retirement.
- Desired Annual Retirement Income (in today's dollars): The yearly income you'd like to have in retirement, expressed in today's purchasing power. The calculator will adjust this for inflation.
- Expected Annual Inflation Rate: The average rate at which prices are expected to rise each year. This is crucial for understanding the future value of your desired income.
- Expected Annual Investment Return (Pre-Retirement): The average annual growth rate you expect on your investments before you retire.
- Expected Annual Investment Return (Post-Retirement): The average annual growth rate you expect on your investments during your retirement years, while you are withdrawing funds.
- Your Life Expectancy: The age you expect to live to. This helps determine the total period your savings need to cover.
The Calculation Process Explained
- Future Value of Current Savings: Your existing savings are projected forward to your desired retirement age, growing at your specified pre-retirement investment return.
- Future Value of Annual Contributions: Your yearly savings contributions are also projected forward, accumulating interest at the pre-retirement return rate until you retire.
- Total Savings at Retirement: These two amounts are added together to give you an estimated total retirement nest egg.
- Future Desired Annual Retirement Income: Your desired annual income (in today's dollars) is adjusted for inflation up to your retirement age. This gives you the actual dollar amount you'll need to withdraw annually in the future to maintain your desired lifestyle.
- Years Your Savings Will Last: Finally, the calculator determines how many years your total projected savings at retirement will last, given your future desired annual income and your post-retirement investment return. It considers how much you can withdraw each year while your remaining balance continues to grow.
Realistic Example: Sarah's Retirement Plan
Let's consider Sarah, who is 30 years old and dreams of retiring at 65. Here are her inputs:
- Current Age: 30
- Desired Retirement Age: 65
- Current Retirement Savings: $50,000
- Annual Savings Contribution: $10,000
- Desired Annual Retirement Income (in today's dollars): $60,000
- Expected Annual Inflation Rate: 3%
- Expected Annual Investment Return (Pre-Retirement): 7%
- Expected Annual Investment Return (Post-Retirement): 5%
- Your Life Expectancy: 90
Based on these inputs, the calculator would show:
- Projected Savings at Retirement: Approximately $1,916,195.50
- Future Value of Desired Annual Retirement Income: Approximately $168,831.60 (This is the annual income she'd need at 65 to have the purchasing power of $60,000 today)
- Your savings are projected to last approximately: 17.17 years
The calculator would then issue a warning: "Your savings may run out by approximately age 82.2 (7.8 years short of your life expectancy). To cover your desired income until age 90, you would need an additional $1,077,600.00 at retirement."
This example clearly shows Sarah that she needs to adjust her plan – either save more, reduce her desired retirement income, or consider working longer – to meet her retirement goals.
Important Considerations
This calculator provides an estimate and is a powerful tool for initial planning. However, remember that:
- It's an Estimate: Actual investment returns, inflation rates, and life expectancy can vary.
- Taxes are Not Included: This calculator does not account for taxes on withdrawals or investment gains, which can significantly impact your net income.
- Healthcare Costs: Retirement healthcare costs can be substantial and are not explicitly factored into the desired income.
- Social Security/Pensions: This calculator focuses solely on your personal savings. Any additional income from Social Security or pensions would supplement these funds.
Use this calculator as a starting point to understand your retirement outlook and motivate further, more detailed financial planning.