The Wells Fargo QuickView tool helps you calculate how much you need to save for retirement, based on your personal retirement goals.
Assumptions: Although your figures are entered based on today's dollars, they are automatically adjusted for a 3% annual inflation rate. Annual retirement needs is based on 80% rate of your current annual income adjusted for inflation and annual 2% increases. It is assumed that the Annual Contributions and Additional Savings entered will continue each year until your entered age of retirement. Actual Social Security Benefits will be based on your own wage history. If the automatic calculation to determine Social Security is chosen for this calculation, please be aware that actual benefits will likely vary. Taxes on income, dividends, and capital gains can vary greatly depending on individual situation. As a result, they are excluded in calculating your retirement needs and savings and assumed to be covered by the 80% income replacement rate. Investments with higher rates of return are generally more volatile and therefore have higher risk.
This calculator and the information provided herein is for educational purposes only and does not constitute investment, financial, tax or legal advice. All estimates are based on the general assumptions noted and may not apply to your specific situation. We cannot and do not guarantee the applicability or accuracy of the projections as they relate to your individual circumstances.
The calculations made are not guaranteed, and are not projections of actual results. A regular investment program neither provides assurance of making a profit nor guarantees against loss in a declining market. The calculation does not guarantee results under any savings or investing program, and cannot guarantee that you will meet your retirement savings goal.
Please contact your personal investment, financial, tax or legal advisor regarding your specific needs and situation.