Set your monthly goal
Enter how much monthly income you would like available for your retirement lifestyle.
RETIREMENT INCOME CLARITY
Will Your Retirement
Income Be Enough?
Use this free retirement income calculator to compare your monthly retirement goal with estimated Social Security, pensions, income from 401(k) or IRA savings, investments, and other sources. See an estimated monthly gap or surplus without creating an account.
A little clarity.
A more informed next step.
✓ Free calculator✓ Instant results✓ No account required✓ No email required
YOUR RETIREMENT INCOME SNAPSHOT
Monthly viewYour income, at a glance.
Start with your monthly income goal.
Your snapshot will appear here.
An educational estimate—not a guarantee of future income or retirement outcomes.
02 Help Me Estimate Income From My Retirement Savings
Optional · Refine your savings income with editable assumptions
Estimate what your savings could provide in today's dollars. Contributions are assumed to occur at the end of each month and stay constant in real purchasing power.
The 3% annual return after inflation and 4% withdrawal rate are editable assumptions, not guarantees or recommendations. This model does not simulate market volatility, taxes, fees, longevity, or the risk of running out of savings.
Enter your ages and savings to see a projection.
You can still edit the savings-income field manually at any time.
A CLEARER PICTURE IN THREE STEPS
How the Retirement Income Calculator Works
Add your income sources
Include Social Security, pensions, retirement savings income, and other recurring income.
See the difference
Compare expected income with your goal. Adjust your inputs to explore another scenario.
UNDERSTAND YOUR NUMBERS
What Is a Retirement Income Gap?
A retirement income gap is the difference between the monthly income you want and the monthly income you expect. If your expected income is higher, the calculator shows a surplus and a zero gap.
Desired income − Expected income = Income gap
How Much Retirement Income Do You Need?
Start with your expected spending: housing, food, health care, transportation, debt, travel, and a cushion for unexpected costs. Consider taxes and changing expenses. There is no single monthly amount that fits everyone.
What Counts as Retirement Income?
Include recurring income you reasonably expect to receive. Count each source only once.
- Social Security and pension benefits
- 401(k), IRA, and other retirement savings withdrawals
- Investment and annuity income
- Rental, part-time work, or business income
- Other recurring retirement income
How Retirement Savings Can Produce Monthly Income
The optional estimate projects your savings to retirement, multiplies by your assumed annual withdrawal rate, and divides by 12. It is a simplified starting estimate, not a sustainable-income guarantee.
KEEP YOUR PLAN CURRENT
When Should You Review Your Retirement Plan?
Revisit your assumptions as your life and finances change.
- Approaching age 50 or nearing retirement
- Changing jobs or paying off a mortgage
- Marriage, divorce, or household changes
- New pension or Social Security estimates
- Major investment or expected expense changes
ANSWERS TO COMMON QUESTIONS
Frequently Asked Questions About Retirement Income
ABOUT THIS TOOL
About the Retirement Income Gap Calculator
The Retirement Income Gap Calculator is a free educational tool designed to help individuals and couples compare their desired retirement income with the income they currently expect to receive.
The calculator is designed to make one important retirement question easier to understand: Will my expected income be enough for the lifestyle I want?
Helpful resources: Social Security benefit estimates and Investor.gov retirement income education.
Free to use. No account required. No email required to see your results.
Your calculator entries are not used to determine financial product eligibility or pricing.
AN OPTIONAL NEXT STEP
Want to discuss your retirement income gap?
Professional assistance is optional. You do not need to submit this form to use the calculator or view your results.
This form opens a prepared email to retirementplanning@smarterhealthinsuranceoptions.com in your email app. Review it and choose Send there. Your calculator entries are not included.
Speak with Terence and his team with Smarter Health Insurance Options for help understanding your results for your circumstances. No purchase is required, and using this calculator does not request a call.
Terence S. Phillips, MA
Licensed Insurance Agent
Florida License Number: W472774
NPN: 18727754
Professional Guidance You Can Understand
Smarter Health Insurance Options is built around clear explanations, practical guidance, and personal service.
The service helps clients nationwide review insurance and retirement options with clarity and confidence.
For more information, visit SmarterHealthInsuranceOptions.com.
Privacy Policy
Your calculator entries stay in your browser unless you choose to submit information through a separate contact form. Calculator inputs are held only in page memory; refreshing or closing the page clears them. We do not send financial values to analytics, store them on a server, or include them in a contact request automatically.
This version uses no analytics, tracking cookies, or active advertising scripts. The advertising areas are placeholders. Hosting infrastructure may process ordinary access logs. A saved or printed summary contains the information you entered; keep it somewhere you trust. Contact details are separate from calculator entries, and any delivery method will be identified before you send.
Educational Disclaimer
This Retirement Income Gap Calculator is provided for educational and informational purposes only. Results are estimates based solely on the information and assumptions entered by the user. Results are not guarantees of future income, investment performance, Social Security benefits, pension benefits, tax outcomes, or retirement success. This calculator does not provide financial, investment, tax, legal, insurance, or retirement planning advice. Consider consulting an appropriately qualified professional before making financial or retirement decisions.