Plan your retirement with confidence. This calculator estimates the corpus you need to retire comfortably, projects your current savings trajectory, and tells you whether you are on track. Enter your age, retirement age, expected monthly expenses in retirement, current savings, monthly contributions, and expected return rate to get a comprehensive retirement plan.
Great news! You're on track to meet your retirement goal.
Corpus Needed
£1M
Total savings required at retirement
Projected Corpus
£3M
At age 65
Years to Retire
35 years
Monthly Shortfall
None
Retirement planning answers a critical question: will you have enough money to maintain your lifestyle after you stop working? The answer depends on how much you need annually, how long your retirement could last, inflation, and investment returns. Starting early gives compound interest the most time to work in your favor.
A common rule of thumb is the 25x rule: multiply your expected annual retirement expenses by 25. If you need £35,000 per year, you need approximately £875,000. This aligns with the 4% safe withdrawal rate, which research suggests allows your portfolio to last 30+ years in most market conditions.
Inflation erodes purchasing power over time. At 3% average inflation, £35,000 in today's money will need to be about £84,000 in 30 years to maintain the same lifestyle. Your retirement calculator must account for inflation to give you an accurate target corpus.
Most retirees have multiple income sources: State Pension, ISA/SIPP/workplace pension withdrawals, personal savings and investments, rental income, and part-time work. Diversifying income sources reduces risk and provides more financial security in retirement.
Starting too late is the most common mistake. Underestimating healthcare costs, not accounting for inflation, being too conservative with investments, and failing to adjust plans as circumstances change are other frequent errors. Review your retirement plan annually and adjust contributions as needed.