What does retirement actually need to cover?
Start with the income already promised and the spending the month actually carries. The gap is the number that matters.
Retirement income gap
Income, need and the difference
A monthly view, not a decades-long projection. Use your own figures and adjust the sliders to see what changes.
Monthly income
$4,750Monthly need
$5,350Premiums, Medicare and out-of-pocket costs.
Monthly gap
−$600
The gap is the amount a reserve, a withdrawal or a spending change has to cover.
Income covers89% of need
What would close the gap
Reducing monthly spending by $600 closes the gap.
Alternatively, a reserve of $7,200 would cover it for 12 months.
This is an educational estimate based on the figures you enter. It does not model taxes, investment returns, inflation or healthcare changes, and it is not a projection or advice.
If there is a gap, close it deliberately
A gap can be covered by spending less, working longer, using a reserve or drawing from investments. Each has a different risk. A banker can help you separate the safe money from the invested money before you choose.