Retirement Catch-Up Calculator
Calculate how much you need to save monthly to catch up on retirement goals
About this calculator
The Retirement Catch-Up Calculator helps determine the monthly savings amount needed to reach your retirement goals when you're behind on savings. Whether you started saving late or experienced financial setbacks, this tool calculates exactly how much extra you need to save each month to get back on track. It considers your current age, desired retirement age, existing savings, and target retirement amount to provide a realistic monthly savings plan that can help secure your financial future.
How to use
Enter your current age, planned retirement age, current retirement savings balance, and your target retirement goal amount. The calculator will instantly show how much you need to save monthly to catch up. Adjust the numbers to see different scenarios and find a monthly savings amount that fits your budget.
Frequently asked questions
What if I can't afford the recommended monthly amount?
Consider extending your retirement age, reducing your target goal, or exploring additional income sources to make catch-up savings more manageable.
Should I include employer 401(k) matching in my calculations?
Yes, include any guaranteed employer contributions as part of your monthly savings to get a more accurate catch-up calculation.
How does starting late affect my retirement savings?
Starting late means less time for compound interest to work, requiring higher monthly contributions to reach the same retirement goals.