Saving for retirement is not an easy nut to crack. How much do you need to retire, when should you start saving, how much do you need to save, how will it effect your paycheck now, how should you save, there are endless questions.
Like all goals, it helps to start small and simple. NerdWallet’s new retirement calculator is a dead simple way to get an idea of how much you should be saving now to reach your goals in retirement. Instead of simply telling you how much you need to save total, like many calculators, it gives you an idea of how much you need to save monthly, which makes saving to your goal a little easier to stomach.
With a few details about yourself: age, desired retirement age, current income, and current savings, the tool tells you what your savings goal should be. You can adjust the filters to see how much you have to save each month to stay on track. Remember, there’s no better time to start saving for retirement than right now.