How much do I need to retire comfortably?

A common rule of thumb is 25× your annual expenses (the 4% rule). If you spend $60,000/year, you would need roughly $1.5 million. However, the exact amount depends on your lifestyle, healthcare costs, Social Security, and retirement age.

What is the difference between a Roth IRA and a Traditional IRA?

With a Traditional IRA you get a tax deduction now but pay taxes on withdrawals in retirement. With a Roth IRA you contribute after-tax dollars but all qualified withdrawals are tax-free. Roth is generally better if you expect higher taxes later.

When should I start claiming Social Security?

You can claim as early as 62 (with reduced benefits) or delay up to 70 (with increased benefits of ~8% per year of delay past full retirement age). Delaying makes sense if you're healthy and can afford to wait.

How much should I contribute to my 401(k)?

At minimum, contribute enough to capture your full employer match (free money). Ideally, aim for 15% of gross income including the match. The 2025 employee contribution limit is $23,500 ($31,000 if you're 50+).

Retirement Planning – Calculators, 401(k), IRA & Social Security Guides

By Wealthvieu · Updated January 15, 2025

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