Wondering how long your retirement savings will last? Today’s retirees are living longer than ever, with some retirements lasting 25 years or longer. While we can’t look into the future to know exactly how much money it will take to support a comfortable retirement, it is possible to estimate how long your current savings will last. Taking a look now will make it easy to see if you have been successful in planning for your living expenses for the future.
Get an Estimate with the TDECU Retirement Calculator
Keep in mind that a retirement savings calculator only provides an estimate of how much you will need. The actual amount is based on several different factors, including the rate of inflation, the return rate on your investments and those little unexpected expenses that will pop up. With a retirement savings calculator, you can get a look at your projected savings by inputting your current amount saved, your annual investment return percentage, estimated tax rate and your monthly distribution amount. Once the calculation is run, you’ll get the projected amount of years that your current retirement savings will last.
Other Retirement Savings Considerations:
- Think about how long your retirement period will be based on when you plan to retire, your current health and life expectancy.
- Invest wisely - having a smart mix of investments can help drive higher returns.
- Be realistic when calculating how much money you will need for living expenses, medical care and other essential costs.
Ready to take a look at your retirement savings?
Calculate how long your retirement savings will last with the TDECU Retirement Savings calculator.
Our financial calculators are provided as a free service to our members. The information supplied by these calculators is from various sources based on calculations we believe to be reliable (but are not guaranteed, explicit or implied) regarding their accuracy or applicability to your specific circumstances. All examples are hypothetical and are for illustrative purposes, and are not intended to provide investment advice. TDECU does not accept any liability for loss or damage whatsoever, which may be attributable to the reliance on and use of the calculators. Use of any calculator constitutes acceptance of the terms of this agreement. TDECU recommends you to find a qualified professional for advice with regard to your personal finance issues.