Congratulations!!! It appears that you have saved enough to meet your goal. In fact, it appears that at age 88 you may still have $998,193 in your retirement accounts. The total amount needed for retirement, including amounts already saved, is $0, based on the current assumptions provided. <div id="chart1Container">Chart will load here</div> <script type="text/javascript"> <!-- var myChart1 = new FusionCharts( "MSColumn2D", "myChart1Id", "100%", "100%", "0", "1" ); myChart1.setXMLData("<chart showValues='0' showFCMenuItem='0' decimals='0' formatNumberScale='0' caption='Retirement Analysis' xAxisName='Your Age' numberPrefix='$' bgColor='FFFFFF' showBorder='0' canvasBgColor='ffffff' showAlternateHGridColor='0' plotGradientColor='' numberSuffix='' thousandSeparator=',' decimalSeparator='.'><categories><category label='67' /><category label='' /><category label='' /><category label='70' /><category label='' /><category label='' /><category label='73' /><category label='' /><category label='' /><category label='76' /><category label='' /><category label='' /><category label='79' /><category label='' /><category label='' /><category label='82' /><category label='' /><category label='' /><category label='85' /><category label='' /><category label='' /></categories><dataset seriesName='Retirement Balance' color='0B9191'><set value='655000.0' /><set value='694300.0' /><set value='709652.0' /><set value='725136.0' /><set value='740735.0' /><set value='756434.0' /><set value='772212.0' /><set value='788049.0' /><set value='803921.0' /><set value='819803.0' /><set value='835667.0' /><set value='851483.0' /><set value='867219.0' /><set value='882838.0' /><set value='898302.0' /><set value='913569.0' /><set value='928592.0' /><set value='943324.0' /><set value='957710.0' /><set value='971692.0' /><set value='985209.0' /></dataset><dataset seriesName='Retirement Income' color='F58127'><set value='0.0' /><set value='26306.0' /><set value='27095.0' /><set value='27908.0' /><set value='28745.0' /><set value='29608.0' /><set value='30496.0' /><set value='31411.0' /><set value='32353.0' /><set value='33324.0' /><set value='34324.0' /><set value='35353.0' /><set value='36414.0' /><set value='37506.0' /><set value='38632.0' /><set value='39790.0' /><set value='40984.0' /><set value='42214.0' /><set value='43480.0' /><set value='44785.0' /><set value='46128.0' /></dataset></chart>"); // --> </script> <ul><li><a href="ret01">How will retirement impact my living expenses?</a></li><li><a href="retirement-calculator">How much will I need to save for retirement?</a></li><li><a href="are-my-current-retirement-savings-sufficient">Are my current retirement savings sufficient?</a></li><li><a href="social-security-retirement-income-estimator">Social security retirement income estimator</a></li><li><a href="ret05">How does inflation impact my retirement income needs?</a></li><li><a href="i-am-retired-how-long-will-my-savings-last">I'm retired, how long will my savings last?</a></li><li><a href="ret07">When should I begin saving for retirement?</a></li><li><a href="ret08">Should I convert discretionary expenses to savings?</a></li><li><a href="ret09">How much retirement income may my 401(k) provide?</a></li><li><a href="ret10">Compare a Roth 401(k) to a Traditional 401(K)</a></li></ul><table class='pure-table pure-table-bordered' role='grid'><tr><th scope="col">Age</th><th scope="col">Annual Salary Increasing @ 3.00%</th><th scope="col">Beginning Retirement Balance</th><th scope="col">Earnings<br/>Pre-Ret&#160;6.00%<br/>Post-Ret&#160;6.00%</th><th scope="col">Estimated Annual Savings </th><th scope="col">Retirement Income Replace <br/>100.00%</th><th scope="col">Annual Social Security Income</th><th scope="col">Annual Retirement Account Withdrawal</th><th scope="col">Ending Retirement Balance</th></tr><tr><td role="rowheader" scope="row">67</td><td>$100,000</td><td>$655,000</td><td>$39,300</td><td>$0</td><td>$0</td><td>$0</td><td>$0</td><td>$694,300</td></tr><tr><td role="rowheader" scope="row">68</td><td>0</td><td>694,300</td><td>41,658</td><td>0</td><td>103,000</td><td>76,694</td><td>26,306</td><td>709,652</td></tr><tr><td role="rowheader" scope="row">69</td><td>0</td><td>709,652</td><td>42,579</td><td>0</td><td>106,090</td><td>78,995</td><td>27,095</td><td>725,136</td></tr><tr><td role="rowheader" scope="row">70</td><td>0</td><td>725,136</td><td>43,508</td><td>0</td><td>109,273</td><td>81,364</td><td>27,908</td><td>740,735</td></tr><tr><td role="rowheader" scope="row">71</td><td>0</td><td>740,735</td><td>44,444</td><td>0</td><td>112,551</td><td>83,805</td><td>28,745</td><td>756,434</td></tr><tr><td role="rowheader" scope="row">72</td><td>0</td><td>756,434</td><td>45,386</td><td>0</td><td>115,927</td><td>86,320</td><td>29,608</td><td>772,212</td></tr><tr><td role="rowheader" scope="row">73</td><td>0</td><td>772,212</td><td>46,333</td><td>0</td><td>119,405</td><td>88,909</td><td>30,496</td><td>788,049</td></tr><tr><td role="rowheader" scope="row">74</td><td>0</td><td>788,049</td><td>47,283</td><td>0</td><td>122,987</td><td>91,576</td><td>31,411</td><td>803,921</td></tr><tr><td role="rowheader" scope="row">75</td><td>0</td><td>803,921</td><td>48,235</td><td>0</td><td>126,677</td><td>94,324</td><td>32,353</td><td>819,803</td></tr><tr><td role="rowheader" scope="row">76</td><td>0</td><td>819,803</td><td>49,188</td><td>0</td><td>130,477</td><td>97,153</td><td>33,324</td><td>835,667</td></tr><tr><td role="rowheader" scope="row">77</td><td>0</td><td>835,667</td><td>50,140</td><td>0</td><td>134,392</td><td>100,068</td><td>34,324</td><td>851,483</td></tr><tr><td role="rowheader" scope="row">78</td><td>0</td><td>851,483</td><td>51,089</td><td>0</td><td>138,423</td><td>103,070</td><td>35,353</td><td>867,219</td></tr><tr><td role="rowheader" scope="row">79</td><td>0</td><td>867,219</td><td>52,033</td><td>0</td><td>142,576</td><td>106,162</td><td>36,414</td><td>882,838</td></tr><tr><td role="rowheader" scope="row">80</td><td>0</td><td>882,838</td><td>52,970</td><td>0</td><td>146,853</td><td>109,347</td><td>37,506</td><td>898,302</td></tr><tr><td role="rowheader" scope="row">81</td><td>0</td><td>898,302</td><td>53,898</td><td>0</td><td>151,259</td><td>112,627</td><td>38,632</td><td>913,569</td></tr><tr><td role="rowheader" scope="row">82</td><td>0</td><td>913,569</td><td>54,814</td><td>0</td><td>155,797</td><td>116,006</td><td>39,790</td><td>928,592</td></tr><tr><td role="rowheader" scope="row">83</td><td>0</td><td>928,592</td><td>55,716</td><td>0</td><td>160,471</td><td>119,486</td><td>40,984</td><td>943,324</td></tr><tr><td role="rowheader" scope="row">84</td><td>0</td><td>943,324</td><td>56,599</td><td>0</td><td>165,285</td><td>123,071</td><td>42,214</td><td>957,710</td></tr><tr><td role="rowheader" scope="row">85</td><td>0</td><td>957,710</td><td>57,463</td><td>0</td><td>170,243</td><td>126,763</td><td>43,480</td><td>971,692</td></tr><tr><td role="rowheader" scope="row">86</td><td>0</td><td>971,692</td><td>58,302</td><td>0</td><td>175,351</td><td>130,566</td><td>44,785</td><td>985,209</td></tr><tr><td role="rowheader" scope="row">87</td><td>0</td><td>985,209</td><td>59,113</td><td>0</td><td>180,611</td><td>134,483</td><td>46,128</td><td>998,193</td></tr></table><h2>Further Resources</h2><ul style="list-style: unset !important;"><li>Read <a href="https://www.moneyhelpcenter.com/article/basics-retirement-planning/" target="_blank">the basics of retirement planning.</a></li><li>Calculate <a href="https://www.moneyhelpcenter.com/retirement/calculate/much-retirement-income-may-401k-provide/" target="_blank">how much retirement income your 401K may provide.</a></li><li>Discuss <a href="https://www.moneyhelpcenter.com/how-much-to-contribute-to-ira/" target="_blank">how much you should contribute to an IRA.</a></li><li>Calculate your <a href="https://www.moneyhelpcenter.com/retirement/calculate/social-security-retirement-income-estimator/" target="_blank">estimated Social Security retirement income.</a></li><li>Discuss how the <a href="https://www.moneyhelpcenter.com/article/changes-living-expenses-retirement/" target="_blank">changes in living expenses in retirement can affect your retirement needs.</a></li></ul><br><span style="padding-bottom:2px;background-color:#eee;line-height:1.45em;border-bottom:1px dotted;border-top:1px dotted;"><span style="color:#81A41E;font-size:100%;font-weight:700;">&nbsp;FINANCIAL PLANNERS</span> <span style="color:#000;font-size:100%;font-weight:normal;">&ndash; <a href="http://www.plannerportal.com" target="_PP_WINDOW">Affordable Financial Planning Software</a> &ndash; <a href="http://www.plannerportal.com" target="_PP_WINDOW">www.PlannerPortal.com</a></span>&nbsp;&nbsp;</span>