# How much do you need to retire?

> Your savings, monthly saving and returns give your target, the age you reach it and what to save to get there.

Work out how much you need to retire and the age you will reach it, from the 4% rule, savings and returns. Runs in your browser, nothing stored, free.

- Tool: [Retirement calculator](https://fixmint.cc/retirement-calculator)
- Category: [Numbers & dates](https://fixmint.cc/numbers)
- Fixes: How much to retire?
- Runs in the browser: files and text stay on the device, no sign-up, free.

## How to work out your retirement number

1. Enter your ages, what you have saved and what you add each month.
2. Enter your returns, inflation, the yearly spending you expect in today’s money, and your withdrawal rate.
3. Read the amount you need, whether you are on track, and the age you reach it.

## Questions

### What is the 4% rule?

A rule of thumb from US research in the 1990s. William Bengen’s 1994 paper tested the history of US stock and bond returns and found that a first-year withdrawal of about 4% of the starting balance, raised with inflation each year, had lasted at least 30 years from every starting year he tested. The 1998 “Trinity study” found much the same for portfolios with at least half in stocks. It is a starting point, not a guarantee. A longer retirement or different markets may call for a lower rate.

### How is it worked out?

Everything is in today’s money, so the figures show today’s buying power. The yearly return is taken after inflation: real return = (1 + return) ÷ (1 + inflation) − 1. Its monthly rate is (1 + real return)^(1/12) − 1. Each month the balance grows at that rate and your monthly amount is added. The target is yearly spending ÷ withdrawal rate, so 30,000 at 4% needs 750,000. The age you reach the target assumes you keep adding the same amount every month until then.

### What does it leave out?

Taxes, fees, pensions and state benefits, and any change in your pay. Real returns swing from year to year, so the path you actually take will differ from this smooth one.

### Is anything stored or sent?

No. Everything is worked out in your browser, and nothing you type is stored or sent. It is an estimate, not financial advice, so check the numbers with a qualified adviser before big decisions.

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