How Ready Are You to Retire?

A retirement readiness score is a numerical assessment from 0 to 100 that estimates how prepared you are to maintain your desired lifestyle in retirement. It factors in your current savings, expected income sources like Social Security and pensions, projected investment growth using a 6% annual return, and your estimated expenses. A higher score indicates greater financial preparedness. Scores above 80 suggest you are well prepared, while scores below 40 indicate areas that need attention.

The amount you need depends on your expected annual expenses, other income sources (Social Security, pensions), and how long you expect to be retired. A common guideline is the 4% rule: you need 25 times your annual expenses minus guaranteed income saved. For example, if you need $60,000 per year beyond Social Security and pensions, you would need approximately $1.5 million in retirement savings. Use our calculator above for a personalized estimate based on your specific situation.

You can retire when your projected retirement income from savings withdrawals, Social Security, and pensions covers your expected expenses. Key factors include your savings rate, investment returns, expected Social Security benefits (which increase if you delay claiming until age 70), and your desired retirement lifestyle. Our calculator helps you evaluate whether your target retirement age is realistic given your current financial situation. Try adjusting the retirement age to see how different timelines affect your readiness score.