Retirement Planning Calculator

How Much Do I Need to Save for Retirement?

This calculator will help you come up with a ballpark estimate of how much you need to save for retirement. It assumes that you are saving in tax-deferred accounts, that inflation will average 4% annually and that, prior to retirement, conservative investors will earn 7% annually, while aggressive investors will make 10%. During retirement, conservative investors are assumed to earn 5% and aggressive investors, 7%. To simplify the calculations, the calculator assumes you'll be using your EPF money when you retire and thus reduces the total assets you'll need. (If you plan to retire early, you’ll have to supplement additional income with savings or another job.)

Estimate Your Target Retirement Income
1.Annual Income desired during retirement in present value
Usually you'll need 70% to 100% of your current income.	RM

2. Inflation-adjusted target income

Pick the number that corresponds most closely to the number of years you plan to work until retirement.

Target income:
RM

Figure the Income You'll Have
3.Annual EPF Saving
PART A: Pick the number that corresponds most closely to your current age.
PART B: Pick the number that corresponds most closely to your current income.
			Your benefits: RM
Step 3: Check the category which best describes your marital status.
Single	Married w/ working spouse	Married w/ non-working spouse

Spouse's benefits:			RM
Total benefits:			RM

4.Current EPF Savings
Ask EPF office for the total amount in your EPF account now. Press the Adjust button once to annualize the figure and adjust for growth.	RM

5.Annual Retirement Income from EPF Account
Press the Add button to see the total of your annual benefits.	RM

Figure the Total Assets You'll Need
6. Annual retirement income needed from your investments
Inflation-adjusted target income minus income from EPF.	RM

7. Assets needed to generate required investment income

Determine your investment profile. Pick the style that best describes your own investment patterns.

Assets needed:
RM

Calculate the Asset Gap
8. Total nest egg for retirement
PART A: Add present tax-deferred and taxable retirement savings (including any real-estate or business that will be sold to fund your retirement).		RM
PART B: Again, select the investing style that best describes your own investment patterns.
		Savings after projected investment: RM

9.Additional Capital Needed
Assets needed minus Savings after projected investment	RM

Figure Your Monthly Savings Target
10.Monthly savings needed to meet your goal
Based on choice of conservative or aggressive investment style prior to retirement.	RM

Disclaimer and conditions: There is no guarantee that the answers given by the retirement planning calculator are either complete or correct. It is not the author's responsibility if the user has incurred any monetary or non-monetary loss as a result of using the calculator. Use this calculator only for a very rough estimate of your retirement planning needs.

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