The typical age of retirement is 65, but aggressive saving and planning can help you retire earlier. You’ll need to be at least 62 to receive a partial Social Security Retirement benefit and, depending on when you were born, may need to reach 67 before you can receive the full benefit.
Retirement calculator Are you prepared for retirement?
Planning for the retirement you've imagined takes work, but it's never too early to get started. We're here to help make the journey a little easier.
Use our retirement calculator to determine if you're on the right track to your retirement goals.
Calculate your retirement needs
Our retirement calculator can help you test a variety of scenarios such as when you want to retire, the amount you save each year and what your living expenses may be in retirement. Enter the required fields and see where you stand today and well as how far you have to go to meet your goals.
You can feel confident that we do not store the information you include in the retirement calculator, and it is all kept private.
About your retirement calculator results
If these results are not what you were hoping for, don’t panic. Many people find themselves in the category of “you’re not okay.” This calculator estimates where you are and where you can end up. Your probability of success will move up or down as you enter different values and test a variety of scenarios. The play zone helps you see how one change can affect the rest of your retirement planning.
Get ready for retirement here
Now that you have your results, it’s time to begin planning your retirement strategy. Whether you’re ready to start on your own or are looking for help from an expert, we have options for you. Here you’ll find two main starting points: create a plan with a financial professional and open an online account with U.S. Bancorp Advisors.
Create a plan with a financial professional
Work one-on-one with one of our highly skilled financial professionals to learn more and design a custom financial plan that addresses your retirement goals.
Open an online account with U.S. Bancorp Advisors
Whether you’re new to investing or an experienced investor, U.S. Bancorp Advisors has several online investing options to help you work toward your retirement goals.
Retirement planning resources
Retirement planning toolkit
Get tools and insights from our retirement planning toolkit so you can feel confident and prepared for the future.
IRA resources and education
Get the information you need about IRAs and how your retirement plan can benefit from opening one.
Retirement checklist
How you save for retirement should evolve as you age. This checklist can help guide your approach.
Frequently asked questions
Experts estimate that you’ll need between 7 to 10 times your annual salary in order to retire comfortably. However, this amount is dependent on many different variables in your life as well as your retirement planning strategy.
The sooner you start saving and preparing for retirement, the better the position you will be in for your future. Most people need to have retirement savings last 20 to 30 years. How long your retirement funds last will depend on your lifestyle as well as many other individual factors.
Before you retire, it’s important to establish a comprehensive plan that identifies available sources of income and your projected living expenses in retirement. Generally, a good rule of thumb is you'll need 70-80% of your pre-retirement income to maintain your standard of living in retirement.
If you planned accordingly and took into account an assumed average annual inflation rate of 2% (which is the Federal Reserve’s target inflation rate), your retirement should last you 20 to 30 years.
It is estimated that couples require 1.5 times the monthly income of one partner to retire.
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Disclosures
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