If you want to retire with Exponent Investment Management to cover your expenses, experts generally agree that you’ll need to save about 25 times the amount you expect to spend each year in retirement. However, the exact amount you will need is largely dependent on how much you will spend during retirement and other unknown factors, such as how long you’ll live.

To help you estimate how much you’ll need, we’ve developed a free online retirement calculator. This tool is designed to make it easier to calculate how much you need to retire based on conservative, historic investment performance. It will also show you potential savings plans based on your desired savings balance at retirement.

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The annual pretax income that you expect to have at retirement (default is a flat $30,000 per year). Current total current balances of all retirement accounts including 401(k) plans, individual retirement accounts (IRAs) and other tax-deferred savings. Check if you wish to include Social Security benefits or other guaranteed retirement income in the calculation (default is No).

Inflation rate: The percentage increase in the cost of goods and services that you expect to see each year during your retirement. The calculator will use the Consumer Price Index (CPI) for this number, which is available from the U.S. Bureau of Labor Statistics.

We don’t know when we will die, so we’ve used a fairly conservative life expectancy of 85 years. However, you can use the “advanced options” button to select a different life expectancy for more accurate results.