Overview
Our Retirement Planner allows you to explore different savings scenarios for your retirement. You can use your existing investment data or enter your own—such as current investments, planned contributions, living expenses, and post-retirement income—to see a personalized projection. The results will be displayed in a graph, and you can adjust your inputs to see how different decisions may impact your projected retirement savings.
To access the Retirement Planner, go to the Savings Goals page and click the Retirement Planner tab. This feature is currently available only on the Quicken Simplifi Web App.
Note: The Retirement Planner is intended as an exploratory tool. It provides a rough estimation and should not be utilized solely for retirement planning decisions.
Entering Data - Advanced
The Advanced option gives you more fields to work with, such as being able to separate tax and tax-deferred balances and contributions, account for expected annual increases of contributions, as well as set your own inflation rate.
Age: Enter your current age.
Already taxed investment balance: Input the total from investment accounts in which money has already been taxed, such as Roth IRAs and brokerage account balances.
Tax-deferred investment balance: Input the total from tax-deferred accounts in which money has not been taxed, such as traditional IRAs and 401K account balances.
Annual taxable contributions: Input the total contributed annually to accounts with after-tax income, such as Roth IRAs.
Annual tax-deferred contributions: Input the total contributed annually to accounts with pre-tax income, such as 401(k)s and 403(b)s, in which taxes are typically deferred until retirement when you withdraw.
Expected annual increase of contributions: Select the expected annual growth rate of your contributions.
Retirement age: Enter the age you expect to retire at.
Life expectancy: A wide variety of factors impact an individual's expected lifespan. You can use the linked calculator to calculate life expectancy for yourself.
Annual living expenses: Input your expected annual expenses post-retirement. This amount will be deducted from your retirement savings each year in the calculation.
Annual retirement income: Input any expected income from social security or any post-tax non-investment income.
Inflation rate: The default inflation rate is set to 3%, but you can change this to any number of your choosing.
Pre-retirement investment returns: Select your expected return on investments pre-retirement.
Post-retirement investment returns: Select your expected return on investments post-retirement.
Pre-retirement tax rate: Enter your current tax rate. This is typically higher during your working years than in retirement.
Post-retirement tax rate: Enter the tax rate you expect after retiring. This is usually lower than pre-retirement rates since your income can decrease.
Entering Data - Basic
Using the Basic option simplifies the data needed for the projection, such as combining your current tax and tax-deferred investments into one.
Age: Enter your current age.
Current investments: Input your total investments, including both taxable and tax-deferred accounts.
Annual investment contribution: Input the total contributed annually, including both taxable and tax-deferred accounts.
Retirement age: Enter the age you expect to retire at.
Life expectancy: A wide variety of factors impact an individual's expected lifespan. You can use the linked calculator to calculate life expectancy for yourself.
Annual living expenses: Input your expected annual expenses post-retirement. This amount will be deducted from your retirement savings each year in the calculation.
Annual retirement income: Input any expected income from social security or any post-tax non-investment income.
Investment returns: Select your expected return on investments.
Pre-retirement tax rate: Enter your current tax rate. This is typically higher during your working years than in retirement.
Post-retirement tax rate: Enter the tax rate you expect after retiring. This is usually lower than pre-retirement rates since your income can decrease.
Using the Retirement Planner
Whether you're using your existing data or entering your own as outlined above, any changes will be immediately reflected in the graph. You can easily experiment with different data points to see how each one impacts your projected retirement savings.
You’ll also see high and low estimates (90th and 10th percentiles) alongside your projected line, and you can adjust future amounts for inflation. These customizations make it easy to plan for a variety of retirement scenarios.
If you have any questions about using the Retirement Planner in Quicken Simplifi, our Support Team is happy to help!