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Estimate Your Retirement Budget
List essential expenses, discretionary spending, healthcare costs, debt payments and potential changes after you stop working.
401k Calculator & Guide
Your 60s can bring important decisions about when to retire, how to draw income from your 401(k), when to claim Social Security and how to manage taxes. Use this guide to organize your next steps and understand the choices available to you.
Educational information for U.S. retirement plans. Your plan documents, account type and individual circumstances determine which rules apply.
Retirement readiness is more than a single account balance. Review your expected spending, savings, healthcare needs, other income sources and the age at which you want to stop working.
List essential expenses, discretionary spending, healthcare costs, debt payments and potential changes after you stop working.
Review your 401(k), IRAs, pension benefits, Social Security estimates, cash reserves and other available resources.
Understand your plan's distribution options, tax treatment and any required minimum distributions that may apply.
You may choose to keep working, reduce your hours or retire fully. The right timing depends on your savings, health, family responsibilities, job situation and preferred lifestyle.
When you leave employment or become eligible for a plan distribution, you may have several choices. Available options depend on the plan, your employment status and the type of account.
You may be able to withdraw money from your plan under its distribution rules. Traditional pre-tax distributions are generally taxable, subject to applicable exceptions and basis.
401(k) Withdrawal Guide →If you continue working and remain eligible, you may be able to keep contributing to your employer plan. Review contribution limits and plan requirements.
Contribution Guide →If you leave a job, a rollover to an eligible retirement account may be an option. Compare fees, investments, withdrawal access and tax consequences before deciding.
401(k) Rollover Guide →The 10% additional tax on early distributions generally no longer applies to distributions after age 59½, although regular income tax may still apply to taxable withdrawals. Special rules and exceptions can affect individual situations, so verify the rules that apply to your account.
Model your potential balance using your current savings, contributions and assumptions. This tool is an educational projection, not a guaranteed return or a complete retirement-income plan.
The employer contribution is an illustrative percentage of salary, not a verified match formula. Set it to 0 if you do not expect further employer contributions.
This simplified annual projection assumes contributions at year-end and a constant annual return. It excludes withdrawals, taxes, fees, required minimum distributions, changing contribution limits, plan rules and variable market returns. It is not a withdrawal or retirement-income calculator.
Retirement income planning involves deciding where money will come from, how much you may need and how to manage withdrawals across different account types.
Separate essential expenses from flexible spending and account for healthcare, taxes, housing, debt and unexpected costs.
Retirement Income Guide →Traditional pre-tax 401(k) withdrawals are generally taxable. Qualified designated Roth distributions are generally tax-free.
Withdrawal Tax Guide →Consider how withdrawals and investment losses could interact, particularly early in retirement. Your strategy should reflect your risk tolerance and income needs.
Retirement Planning Guide →Rules of thumb such as withdrawing a fixed percentage each year are not guarantees. Portfolio mix, inflation, investment performance, retirement duration, fees and other income sources all affect sustainability.
Required minimum distributions are minimum withdrawals that generally apply to traditional retirement accounts at a specified age. The applicable age and timing depend on current law, account type and certain employment circumstances.
Under current general rules, required minimum distributions generally begin at age 73 for traditional 401(k) accounts, subject to exceptions. Some current employees may be able to delay distributions from their current employer's plan until retirement, unless they are 5% owners.
The original owner of a designated Roth account in a 401(k) generally does not have lifetime RMDs under current rules. Beneficiary distribution rules still apply.
Check the applicable rules, account balance and plan administrator's procedures ahead of time. The first distribution deadline can differ from the deadline for later annual distributions.
Your 401(k) is one part of a wider retirement plan. Consider how withdrawals interact with other income, insurance coverage and the timing of major expenses.
Traditional 401(k) withdrawals generally count as taxable income. Consider how distributions interact with other income and tax circumstances.
401(k) Tax Guide →Understand employer coverage, Medicare eligibility and enrollment timing. Medicare decisions can have deadlines and consequences, so verify current official guidance.
Official Medicare Website →Check beneficiary designations and keep your plan records current, especially after marriage, divorce, a death or another major life change.
401(k) Beneficiary Guide →Use this checklist to organize your preparation. Your priorities and timing may differ depending on whether you plan to retire soon or continue working.
Explore more resources to understand your 401(k), prepare for retirement and make informed decisions about withdrawals.
Learn about distribution options, withdrawal rules and taxes.
Read the Guide →Understand RMD timing and general account rules.
Read the RMD Guide →Bring your savings, expected expenses and income sources together.
Explore Planning →Explore income sources and withdrawal considerations.
Read the Guide →Review options if you leave your employer or change plans.
Read the Rollover Guide →Explore retirement, contribution and savings projection tools.
Explore Calculators →Review your savings, understand your options and plan how your retirement accounts may support your future income needs. Use official sources and your plan documents to confirm the rules that apply to you.
Clear guides, useful calculators and practical retirement resources to help you understand your 401(k), contributions, employer matching, Roth options, rollovers and long-term savings.
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When Should You Claim Social Security?
Social Security claiming age can affect your monthly retirement benefit. The best choice depends on your earnings record, full retirement age, health, household situation, other income and how long you expect to rely on benefits.
Claiming Early
You can generally start retirement benefits at age 62 if eligible. Starting before full retirement age permanently reduces the monthly benefit compared with claiming at full retirement age.
Claiming at Full Retirement Age
Your full retirement age depends on your birth year. For people born in 1960 or later, it is generally age 67.
Delaying Benefits
For eligible people, delaying retirement benefits after full retirement age can increase the monthly benefit through delayed retirement credits until age 70.
Compare the Whole Picture
Consider how your 401(k), other savings and potential work income could support you while you wait or after benefits begin.
This page does not calculate your Social Security benefit. Use the Social Security Administration's official tools for estimates based on your earnings record.