Calculator
Retirement Income Gap Calculator
Estimate the annual and monthly gap between desired retirement income and expected income sources.
Result
Annual income gap
$40,000.00
Monthly income gap
$3,333.33
Expected annual income
$40,000.00
How to use this calculator
What this calculator does
Estimate the annual and monthly gap between desired retirement income and expected income sources.
How to use it
Enter your desired annual retirement income, expected pension or social security income, and expected other income, then review the result, formula, example, and FAQs below. Try a few scenarios to see which inputs move the result most.
What the result means
Use the result as a direct calculation from the values you entered. If it looks off, check the inputs and formula shown on this page.
Browse more retirement calculators for related estimates and comparisons.
Retirement results are estimates for planning and education. They are not financial advice and do not account for every market, tax, fee, inflation, pension, health, benefit-timing, or personal factor.
Scenario guidance
When to use this
Use this when estimating how much income may need to come from savings after expected pension, social security, or other income.
Example scenario
A couple is checking whether expected fixed income covers their desired annual retirement spending before estimating portfolio withdrawals.
Inputs that usually matter most
- Desired annual retirement income, because it sets the spending need.
- Expected pension or social security income, which may cover part of the target.
- Other income, such as part-time work, rental income, or annuity income.
Common mistake to avoid
Do not ignore taxes, inflation, benefit timing, pension rules, or local regulations when estimating retirement income.
How to interpret the result
Use the annual and monthly gap to estimate how much may need to come from savings or other sources, then compare it with withdrawal planning.
Results are estimates for planning and education. They are not financial advice.
Formula
Monthly gap is the annual gap divided by 12. If expected income exceeds desired income, the calculator shows the estimated surplus.
Example income gap
$80,000 desired annual income minus $30,000 from pension or social security and $10,000 from other income leaves a $40,000 annual gap.
Frequently Asked Questions
Should I enter gross or after-tax income?
Use whichever view matches your planning goal, but keep inputs consistent. Taxes can materially change retirement income needs.
What if expected income is higher than desired income?
The calculator shows an estimated surplus instead of a gap, but that surplus may change with taxes, inflation, and benefit rules.
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