It appears that your current savings will only provide enough income to age 80. To provide the income you desire, you will need to save an additional $3,788 per year (2.0% of your income) before tax or $316 a month. <div id="chart1Container">Chart will load here</div> <script type="text/javascript"> <!-- var myChart1 = new FusionCharts( "MSColumn2D", "myChart1Id", "100%", "100%", "0", "1" ); myChart1.setXMLData("<chart showValues='0' showFCMenuItem='0' decimals='0' formatNumberScale='0' caption='Retirement Analysis' xAxisName='Your Age' numberPrefix='$' bgColor='FFFFFF' showBorder='1' borderColor='FFFFFF' borderThickness='1' canvasBgColor='ffffff' showAlternateHGridColor='0' plotGradientColor='' numberSuffix='' thousandSeparator=',' decimalSeparator='.'><categories><category label='47' /><category label='' /><category label='' /><category label='50' /><category label='' /><category label='' /><category label='53' /><category label='' /><category label='' /><category label='56' /><category label='' /><category label='' /><category label='59' /><category label='' /><category label='' /><category label='62' /><category label='' /><category label='' /><category label='65' /><category label='' /><category label='' /><category label='68' /><category label='' /><category label='' /><category label='71' /><category label='' /><category label='' /><category label='74' /><category label='' /><category label='' /><category label='77' /><category label='' /><category label='' /><category label='80' /></categories><dataset seriesName='Retirement Balance' color='33A3C1'><set value='301320.0' /><set value='336226.0' /><set value='374032.0' /><set value='414971.0' /><set value='459296.0' /><set value='507278.0' /><set value='559212.0' /><set value='615413.0' /><set value='676225.0' /><set value='742018.0' /><set value='813191.0' /><set value='890176.0' /><set value='973440.0' /><set value='1063485.0' /><set value='1160855.0' /><set value='1266137.0' /><set value='1379967.0' /><set value='1503028.0' /><set value='1636061.0' /><set value='1612550.0' /><set 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value='196252.0' /><set value='202500.0' /><set value='208935.0' /><set value='215563.0' /><set value='222390.0' /><set value='138825.0' /></dataset></chart>"); // --> </script> <table class='pure-table pure-table-bordered' role='grid'><tr><th scope="col">Age</th><th scope="col">Salary @ 3.0%</th><th scope="col">Beginning Retirement Balance</th><th scope="col">Interest<br/>Pre-Ret 8.0%<br/>Post-Ret 8.0%</th><th scope="col">Current Savings</th><th scope="col">Desired Retirement Income <br/>75.0%</th><th scope="col">Pension Income</th><th scope="col">Social Security Income</th><th scope="col">Retirement Account Withdrawals</th><th scope="col">Ending Retirement Balance</th></tr><tr><td role="rowheader" scope="row">47</td><td>$191,600</td><td>$279,000</td><td>$22,320</td><td>$10,000</td><td>$0</td><td>$0</td><td>$0</td><td>$0</td><td>$311,320</td></tr><tr><td role="rowheader" scope="row">48</td><td>197,348</td><td>311,320</td><td>24,906</td><td>10,100</td><td>0</td><td>0</td><td>0</td><td>0</td><td>346,326</td></tr><tr><td role="rowheader" scope="row">49</td><td>203,268</td><td>346,326</td><td>27,706</td><td>10,201</td><td>0</td><td>0</td><td>0</td><td>0</td><td>384,233</td></tr><tr><td role="rowheader" scope="row">50</td><td>209,366</td><td>384,233</td><td>30,739</td><td>10,303</td><td>0</td><td>0</td><td>0</td><td>0</td><td>425,274</td></tr><tr><td role="rowheader" scope="row">51</td><td>215,647</td><td>425,274</td><td>34,022</td><td>10,406</td><td>0</td><td>0</td><td>0</td><td>0</td><td>469,702</td></tr><tr><td role="rowheader" scope="row">52</td><td>222,117</td><td>469,702</td><td>37,576</td><td>10,510</td><td>0</td><td>0</td><td>0</td><td>0</td><td>517,789</td></tr><tr><td role="rowheader" scope="row">53</td><td>228,780</td><td>517,789</td><td>41,423</td><td>10,615</td><td>0</td><td>0</td><td>0</td><td>0</td><td>569,827</td></tr><tr><td role="rowheader" scope="row">54</td><td>235,644</td><td>569,827</td><td>45,586</td><td>10,721</td><td>0</td><td>0</td><td>0</td><td>0</td><td>626,134</td></tr><tr><td role="rowheader" scope="row">55</td><td>242,713</td><td>626,134</td><td>50,091</td><td>10,829</td><td>0</td><td>0</td><td>0</td><td>0</td><td>687,054</td></tr><tr><td role="rowheader" scope="row">56</td><td>249,995</td><td>687,054</td><td>54,964</td><td>10,937</td><td>0</td><td>0</td><td>0</td><td>0</td><td>752,955</td></tr><tr><td role="rowheader" scope="row">57</td><td>257,494</td><td>752,955</td><td>60,236</td><td>11,046</td><td>0</td><td>0</td><td>0</td><td>0</td><td>824,237</td></tr><tr><td role="rowheader" scope="row">58</td><td>265,219</td><td>824,237</td><td>65,939</td><td>11,157</td><td>0</td><td>0</td><td>0</td><td>0</td><td>901,333</td></tr><tr><td role="rowheader" scope="row">59</td><td>273,176</td><td>901,333</td><td>72,107</td><td>11,268</td><td>0</td><td>0</td><td>0</td><td>0</td><td>984,708</td></tr><tr><td role="rowheader" scope="row">60</td><td>281,371</td><td>984,708</td><td>78,777</td><td>11,381</td><td>0</td><td>0</td><td>0</td><td>0</td><td>1,074,866</td></tr><tr><td role="rowheader" scope="row">61</td><td>289,812</td><td>1,074,866</td><td>85,989</td><td>11,495</td><td>0</td><td>0</td><td>0</td><td>0</td><td>1,172,349</td></tr><tr><td role="rowheader" scope="row">62</td><td>298,507</td><td>1,172,349</td><td>93,788</td><td>11,610</td><td>0</td><td>0</td><td>0</td><td>0</td><td>1,277,747</td></tr><tr><td role="rowheader" scope="row">63</td><td>307,462</td><td>1,277,747</td><td>102,220</td><td>11,726</td><td>0</td><td>0</td><td>0</td><td>0</td><td>1,391,693</td></tr><tr><td role="rowheader" scope="row">64</td><td>316,686</td><td>1,391,693</td><td>111,335</td><td>11,843</td><td>0</td><td>0</td><td>0</td><td>0</td><td>1,514,871</td></tr><tr><td role="rowheader" scope="row">65</td><td>0</td><td>1,514,871</td><td>121,190</td><td>0</td><td>244,640</td><td>12,000</td><td>89,680</td><td>142,959</td><td>1,493,102</td></tr><tr><td role="rowheader" scope="row">66</td><td>0</td><td>1,493,102</td><td>119,448</td><td>0</td><td>251,979</td><td>12,000</td><td>92,371</td><td>147,608</td><td>1,464,942</td></tr><tr><td role="rowheader" scope="row">67</td><td>0</td><td>1,464,942</td><td>117,195</td><td>0</td><td>259,538</td><td>12,000</td><td>95,142</td><td>152,396</td><td>1,429,741</td></tr><tr><td role="rowheader" scope="row">68</td><td>0</td><td>1,429,741</td><td>114,379</td><td>0</td><td>267,324</td><td>12,000</td><td>97,996</td><td>157,328</td><td>1,386,792</td></tr><tr><td role="rowheader" scope="row">69</td><td>0</td><td>1,386,792</td><td>110,943</td><td>0</td><td>275,344</td><td>12,000</td><td>100,936</td><td>162,408</td><td>1,335,327</td></tr><tr><td role="rowheader" scope="row">70</td><td>0</td><td>1,335,327</td><td>106,826</td><td>0</td><td>283,604</td><td>12,000</td><td>103,964</td><td>167,640</td><td>1,274,513</td></tr><tr><td role="rowheader" scope="row">71</td><td>0</td><td>1,274,513</td><td>101,961</td><td>0</td><td>292,113</td><td>12,000</td><td>107,083</td><td>173,030</td><td>1,203,444</td></tr><tr><td role="rowheader" scope="row">72</td><td>0</td><td>1,203,444</td><td>96,276</td><td>0</td><td>300,876</td><td>12,000</td><td>110,296</td><td>178,580</td><td>1,121,140</td></tr><tr><td role="rowheader" scope="row">73</td><td>0</td><td>1,121,140</td><td>89,691</td><td>0</td><td>309,902</td><td>12,000</td><td>113,604</td><td>184,298</td><td>1,026,533</td></tr><tr><td role="rowheader" scope="row">74</td><td>0</td><td>1,026,533</td><td>82,123</td><td>0</td><td>319,199</td><td>12,000</td><td>117,012</td><td>190,187</td><td>918,469</td></tr><tr><td role="rowheader" scope="row">75</td><td>0</td><td>918,469</td><td>73,478</td><td>0</td><td>328,775</td><td>12,000</td><td>120,523</td><td>196,252</td><td>795,694</td></tr><tr><td role="rowheader" scope="row">76</td><td>0</td><td>795,694</td><td>63,656</td><td>0</td><td>338,638</td><td>12,000</td><td>124,139</td><td>202,500</td><td>656,850</td></tr><tr><td role="rowheader" scope="row">77</td><td>0</td><td>656,850</td><td>52,548</td><td>0</td><td>348,798</td><td>12,000</td><td>127,863</td><td>208,935</td><td>500,463</td></tr><tr><td role="rowheader" scope="row">78</td><td>0</td><td>500,463</td><td>40,037</td><td>0</td><td>359,262</td><td>12,000</td><td>131,699</td><td>215,563</td><td>324,937</td></tr><tr><td role="rowheader" scope="row">79</td><td>0</td><td>324,937</td><td>25,995</td><td>0</td><td>370,039</td><td>12,000</td><td>135,650</td><td>222,390</td><td>128,542</td></tr><tr><td role="rowheader" scope="row">80</td><td>0</td><td>128,542</td><td>10,283</td><td>0</td><td>381,141</td><td>12,000</td><td>139,719</td><td>138,825</td><td>0</td></tr><tr><td role="rowheader" scope="row">81</td><td>0</td><td>0</td><td>0</td><td>0</td><td>392,575</td><td>12,000</td><td>143,911</td><td>0</td><td>0</td></tr><tr><td role="rowheader" scope="row">82</td><td>0</td><td>0</td><td>0</td><td>0</td><td>404,352</td><td>12,000</td><td>148,228</td><td>0</td><td>0</td></tr></table>