Retirement Readiness Assessment

You indicated you want to retire in 26 years and have $5,000 available for you a month to support your desired lifestyle, adjusted for inflation. You will need to save approximately
in order to achieve this goal.
With your current savings of $100,000 and $1,000 monthly contributions, assuming a 6.5% return on investments before retirement, you are on track to save
This leaves you with a $1,057,172 gap in your retirement savings plan. Use the tools below to see how you can address your retirement savings gap.


funding level

Monthly Contributions

Without any changes, you may be able to afford
monthly budget at retirement.
One way to increase your retirement budget is to save more money now and let the funds accumulate before retirement. You will need to save
to retire in 26 years and support your desired lifestyle at retirement.
Change monthly savings


Better cash flow management can boost your potential to reach your financial goals.

Retirement Period

With your current amount of savings, you will be able to retire at
age 72
and support your desired lifestyle at retirement with $5,000 monthly spending
Change Retirement Period (age)
Without adjustments, you may run out of money by
age 80


  • You are currently planning to retire in 26 years at age 65 with a retirement budget of $5,000 a month.
  • To support your desired lifestyle at retirement, you will need approximately $4,244,424 during your retirement years.
  • To have this amount, you need to save approximately $2,335,906 in 26 years by the retirement start date, assuming your retirement savings will be invested at a 4.2% return rate when you retire.
  • Assuming a 6.5% investment return before retirement, you can accumulate the required amount by saving $2,383 a month.
  • You indicated you currently have $100,000 in savings allocated toward retirement and contribute $1,000 a month.
  • This leaves you with a $1,057,172 gap in your retirement savings plan. Without adjustments, you may run out of money by the age of 80
  • To balance the plan, you can increase your monthly savings to $2,383 a month or may need to postpone your retirement to age 72.
Next Steps
  • Review and update your inputs, primarily your retirement age and monthly contributions. The earlier you start to contribute and invest your retirement fund money, the longer time these funds will have to appreciate reducing your need for extra savings.
  • Review your current cash flow. Do you pay for subscriptions that you do not use? Can you optimize your taxes? Making even small changes to your monthly cash flow can help you contribute additional amounts toward savings. Investing these extra funds can compound returns over time and help you achieve your goals.
  • Check your Social Security statement to see how much of your retirement budget can be covered by these benefits. See what benefits you can qualify for and how to coordinate them better.
  • Review your investment policy. Can it generate your desired rate of return without exposing you to the sequence of returns risk? Make sure you have a plan for handling market downturns without affecting your ability to reach your financial goals.
  • Review your insurance policies and make sure you have sufficient coverage.
  • Do you have other financial goals besides retirement? Developing a comprehensive financial plan can help you achieve your goals and give you piece of mind.

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Vladimir Kouznetsov, EA, CFP® is an investment advisor representative at Retegy LLC.
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