Retirement planning

Wherever you are on the road to retirement, our expert content and tools can help you find (and take) your next best steps.

Saving for Retirement

How much do you need to retire? When should you start saving? We’ll help you figure it out and get on track with a retirement plan that’s right for you.

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Living in Retirement

Learn how to manage your money and portfolio in retirement, and find out what to do about required minimum distributions (RMDs), estate planning and more.

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Retirement calculators

How much will you need to retire?

Use our retirement savings calculator to see where you stand today.

See where I stand
If you turned 70½ before 2020, estimate your RMDs.

RMDs are required for most IRAs and employer-sponsored retirement plans. See how much you might need to take out.

Estimate my RMDs
Have you inherited a retirement account?

As a beneficiary of an IRA or other retirement plan account, you might need to take RMDs to avoid a tax penalty.

Get an estimate

Get answers to common retirement questions

How much do I need to save for retirement?

A simple rule of thumb is to save about 25 times the amount you’ll need to withdraw from your retirement portfolio during your first year of retirement.

Here's an example:


Total expenses for your first year of retirement (including taxes)	$60,000
Minus expected income (Social Security, pension or rental income)	-$20,000
First-year withdrawal from portfolio	$40,000 x 25
Total amount you’ll need in your retirement portfolio	$1,000,000

The 25 times rule can give you an idea of where you stand, but it also makes assumptions that might not be true for you. For example, it assumes you’ll be retired for 30 years, spend the same amount every year, and never change your asset allocation. It also assumes you’ll have your portfolio through the end of your retirement.

For a more accurate picture of where you stand, use our retirement savings calculator.

Should I pay off student loans before I save for retirement?

In most cases, the answer is no. While you should stay current on your loan payments, it’s also important to start saving for retirement as soon as you can.

Here’s how we recommend prioritizing debt and retirement savings:

First, make the minimum payments on your student loans and other debt.
If there’s money left over, contribute enough to your 401(k) to get the full company match.
If you don’t have a 401(k) or other employer-sponsored retirement plan, consider opening a traditional or Roth IRA.
If you can, make extra payments on your highest-interest loan to reduce it faster.
When you get extra money from a gift, work bonus or tax refund, use it to reduce your debt and save for retirement.

When should I start taking Social Security?

You can start taking Social Security as early as age 62. But you’ll receive a smaller check each month than you will if you wait until your full retirement age. If you wait until after your full retirement age, your Social Security benefit will increase by about 8% for every year you delay, up to age 70. After age 70, there’s no increase for delaying further.

If you were born in…	Your full retirement age is…
1943-1954	66
1955	66 and 2 months
1956	66 and 4 months
1957	66 and 6 months
1958	66 and 8 months
1959	66 and 10 months
1960 or later	67

^{Source: Social Security Administration}

Learn more about when to take Social Security retirement benefits.

Can I change my mind after starting Social Security benefits?

If you take benefits but decide you no longer need them, you can pay back the money you received and restart your benefits later at a higher amount. But you can only do this once, and you must withdraw your application within the first 11 months after you file.

You'll also have to pay back any taxes or Medicare premiums that were withheld. For more information, visit the Social Security Administration website at www.ssa.gov.

I'm almost 70½—which retirement accounts have required minimum distributions (RMDs)?

Starting at age 70½ (or age 72, if you turn 70½ after 2019), the IRS requires you to take required minimum distributions (RMDs) from your:

Employer-sponsored retirement plans—including profit-sharing, 401(k), 403(b), and 457(b) plans
Traditional, rollover, and (in some cases) inherited IRAs—but not Roth IRAs¹
SIMPLE IRA
SEP or SARSEP
Roth 401(k)—unless you roll it over to a Roth IRA

To avoid the 50% IRS penalty, you must take your RMDs by the deadline. If you turned 70½ in 2019, take your first RMD by April 1 of 2020—and another RMD by December 31, 2020. If you turn 70½ after 2019, take your first RMD by April 1 of the year after you turn 72. Any portion of the required amount that you don’t withdraw by the deadline will be subject to the 50% penalty.

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Retirement planning

Saving for Retirement

Living in Retirement

Retirement calculators

How much will you need to retire?

If you turned 70½ before 2020, estimate your RMDs.

Have you inherited a retirement account?

Get answers to common retirement questions

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See how we stack up to the competition.

$0 online equity trade commissions + Satisfaction Guarantee.

These 8 mental mix-ups could be costing you money. Do you know what they are?

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More choices. More ways to invest how you want.

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Retirement planning

Learn more about retirement

Saving for Retirement

Living in Retirement

Retirement calculators

How much will you need to retire?

If you turned 70½ before 2020, estimate your RMDs.

Have you inherited a retirement account?

Questions other investors are asking