Retirement Calculator Edward Jones: Plan Your Dream Retirement in 5 Easy Steps

Are you wondering how much you'll need to save for retirement? Our free retirement calculator can help you estimate your future income and expenses, and create a personalized retirement plan.

How to Use the Retirement Calculator

1. Gather your information. You'll need to know your current age, income, and savings. You'll also need to estimate your future expenses and retirement goals.
2. Enter your information into the calculator. The calculator will ask you a series of questions about your current financial situation and retirement goals.
3. Review your results. The calculator will generate a report that shows your estimated retirement income and expenses. It will also provide recommendations for how to save for retirement.
4. Create a retirement plan. Once you have reviewed your results, you can create a retirement plan that outlines your savings goals and investment strategy.
5. Monitor your progress. As you get closer to retirement, you should monitor your progress and make adjustments to your plan as needed.

Tips for Using the Retirement Calculator

• Be realistic about your expenses. It's important to be realistic about your future expenses when using the retirement calculator. Don't underestimate your expenses, or you may end up with a retirement shortfall.
• Consider inflation. The cost of living increases over time, so it's important to factor inflation into your retirement planning. The calculator will allow you to enter an inflation rate assumption.
• Adjust your plan as needed. Your retirement plan is not set in stone. As you get closer to retirement, you should monitor your progress and make adjustments as needed.

How Much Will You Need to Retire?

The amount of money you'll need to retire depends on a number of factors, including your age, income, expenses, and retirement goals. However, there are some general guidelines you can follow.

• Rule of thumb. A common rule of thumb is to aim to save 10% of your income for retirement. This is a good starting point, but you may need to save more or less depending on your individual circumstances.
• Save more. The more you save now, the less you'll need to save later. If you can, try to save as much as you can afford.
• Invest for growth. Your retirement savings should be invested in a way that helps them grow over time. This could include investing in stocks, bonds, or mutual funds.
• Consider annuities. Annuities can provide you with a guaranteed income stream in retirement. This can help you ensure that you have enough money to cover your expenses.

Start Planning for Retirement Today

Retirement planning is an important part of financial planning. By starting to plan early, you can increase your chances of having a secure and comfortable retirement.