Retirement calculator

By:

James Knight

James is the Editor of Education for Invezz, where he covers topics from across the financial world, from the stock market, to cryptocurrency, to macroeconomic markets.... read more.

Updated: Aug 14, 2024

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The Invezz retirement calculator helps you plan for retirement, allowing you to analyse your current situation in order to determine when you can retire and helping you meet specific financial goals for a comfortable retirement. Keep reading to see how our retirement calculator works.

How to use our retirement calculator

To use our retirement calculator, just follow these steps:

1. Enter Your Current Age: Input your current age in years.
2. Set Your Desired Retirement Age: Enter the age at which you plan to retire.
3. Input Current Savings: Add the amount of money you currently have saved for retirement.
4. Annual Contribution: Enter how much you plan to contribute to your retirement savings each year.
5. Expected Annual Return: Enter the percentage of annual return you expect from your retirement investments.
6. Annual Withdrawal During Retirement: Enter the amount you plan to withdraw each year during retirement.
7. Calculate Your Retirement Savings: Click the “Calculate” button. The calculator will estimate your retirement savings and determine if you are on track to meet your goals.
8. Review Your Retirement Goal Status: The results will show your estimated savings at retirement and whether you are on track (“On Track”) or need to adjust your plans (“Needs Adjustment”).

How the retirement calculator works

The Invezz retirement calculator crunches key pieces of data such as your financial goals, current financial status, and the length of time until your retirement. It then shows you what your retirement income will look like and helps you figure out when it’s financially viable for you to stop working.

Why should I use it?

To plan for the future. You could easily live two, three, or more decades after retiring. That means you have to make sure you have the money to live, and live comfortably. Our retirement calculator allows you to see what your finances will be like in retirement so that you can focus on earning and saving for that future date.

What is retirement? 

Retirement is the act of ending your career, usually to pursue a more leisurely lifestyle. Different countries may have different legal retirement ages, and you may also choose to retire before or after you reach that age. Whatever the case, it’s important to make sure you have enough money to retire, given that your steady income days may be coming to an end at that point.