Find out if you're on track to retire comfortably - and exactly how much you need to save each month.
Frequently Asked Questions
What is the 4% rule for retirement?
The 4% rule states you can safely withdraw 4% of your retirement savings each year with very low risk of running out over a 30-year retirement. To find your target balance: multiply your desired annual income by 25. For $60,000/year you need $1,500,000.
How much should I save each month?
The standard guideline is 15% of pre-tax income including any employer match. This calculator shows your exact number based on your age, current savings, and income goal.
USA: 401(k) vs IRA - which first?
Always contribute to your 401(k) up to the full employer match first (free money). Then fund a Roth IRA up to the limit ($7,000 in 2024). Then return to the 401(k) for additional contributions. 2024 401(k) limit: $23,000 ($30,500 if 50+).
South Africa: Are RA contributions tax-deductible?
Yes. Retirement Annuity contributions are tax-deductible up to 27.5% of taxable income, capped at R350,000 per year. This means contributing to an RA directly reduces your tax bill - making it one of the most tax-efficient savings tools available in South Africa.