Retirement Income Gap Calculator
Estimate the gap between your retirement income needs and expected income sources
Your Retirement Information
How much monthly income do you want in retirement?
Check your estimate at ssa.gov
4% is the traditional safe withdrawal rate
Ready to Analyze?
Enter your retirement information on the left and click "Calculate" to see your income gap analysis.
Disclaimer: This calculator provides estimates based on the information you provide. Actual results may vary due to inflation, market conditions, and changes in Social Security benefits. Consult with a financial advisor for personalized retirement income planning.
Understanding Your Retirement Income Gap
Most people think about retirement in terms of a savings balance, but what actually pays your bills in retirement is monthly income — from Social Security, any pension, and withdrawals from your savings. The "income gap" is simply the difference between what you'll need each month and what those sources are projected to provide.
Identifying a gap years before retirement gives you time to close it through several levers — saving more, working a bit longer, adjusting your withdrawal strategy, or delaying Social Security — rather than discovering a shortfall after you've already stopped working.
How This Calculator Works
Enter your desired monthly retirement income alongside your expected Social Security, pension, and current savings balance. The calculator converts your savings into a projected monthly income figure using your chosen safe withdrawal rate, adds it to your other income sources, and compares the total against your desired income to show a monthly shortfall or surplus — along with tailored suggestions for closing any gap.