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What is RetireBy and How Does it Calculate Your Retirement Number?
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What is RetireBy and How Does it Calculate Your Retirement Number?
RetireBy calculates your estimated monthly retirement savings number that you may want in retirement. It replaces generic retirement guidelines and calculates a number based on your own retirement goals.
RetireBy calculates how much you may need to retire. The answer might surprise you.
RetireBy is PensionBee's retirement calculator. It replaces generic guidelines like "save 10 to 15 percent of your income" with an estimated number that’s tailored to you based on where you want to live, how you want to live, and what you've already saved.
See what you may need for the retirement you want with PensionBee’s RetireBy Calculator.
Why Doesn't the 10-15% Savings Rule Work for Most People?
Somewhere along the way, "save 10 to 15 percent of your income" became the standard tagline for retirement planning. Financial advisors say it. Articles repeat it. Apps remind you of it.
For most people, it's also completely disconnected from what retirement will actually cost them.
The 10-15% rule was never a plan. It was a rule of thumb, designed to be easy to remember and broadly applicable. That means it's precisely calibrated to no one's actual life.
It doesn't know where you want to live, whether you're planning to travel or stay put, rent or own, work part-time or stop entirely. It doesn't factor in healthcare costs where you live, or what Social Security may add to your monthly income. It says nothing about the actual gap between what you have and what you'll need.
What most people call a retirement plan is, if they're honest, an educated guess. The problem with guessing is that you don't find out you were wrong until it's too late to do much about it.
How Big Is the Gap Between What Americans Have Saved and What They'll Need?
Here's what the research consistently shows: nearly half of Americans think they'll likely outlive their savings, and a similar share don't expect to be financially prepared for retirement at all. Yet fewer than half of workers and retirees have even calculated what they'll need to cover something as basic as healthcare costs in retirement. The result is a gap, sometimes a large one, that stays invisible until it's urgent.
The gap isn't the problem. The gap being invisible is the problem.
Be Retirement Confident.
Roll over all your old 401(k)s into a PensionBee Individual Retirement Account (IRA). It takes just a few minutes to sign up.
RetireBy starts with a different question than most retirement tools. Not "how much have you saved?" but "what do you want your retirement to look like in the future?"
It can pull in real data to build your picture:
Regional cost-of-living estimate for your area, based on Bureau of Economic Analysis data. This includes housing, food, education, and approximate medical expenses.
You can also enter balances from accounts, including your active 401(k), brokerages, and any other additional income sources too (for example, rental income).
What Do I Get Back From RetireBy?
RetireBy outputs a number, not a percentage. The calculated amount you may need to retire the way you actually want to, where you actually want to live.
It then turns that number into an estimated monthly retirement income and compares it with what you’ve saved so far.
The result might say you’re on track. It might say you could retire earlier than you expected with your current inputs. It might show a gap between where you are and where you want to be.
This isn’t a one-size-fits-all projection. It's yours.
How Does RetireBy Calculate What It Takes to Close the Gap?
One of the most powerful variables in retirement savings isn't how aggressively your portfolio is invested or which account type you choose. It's when you start. Every month of delay between now and when you start saving consistently is a month of compounding that doesn't happen.
Knowing the number is the first thing. RetireBy is designed to calculate and show you what you may need for your dream retirement. The second is knowing where you stand against that number. Once you can see how close or far you are from your retirement goal, decisions like rolling over an old retirement account or making contributions come with more context.
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The RetireBy Calculator estimates a retirement savings target based on your inputs (such desired retirement location and lifestyle and current savings) and our assumptions (including investment growth, inflation, and Social Security benefits). Results are hypothetical, not guaranteed, and may differ significantly from your actual needs. The calculator does not consider all your personal circumstances or replace individualized financial planning.
Investing involves risk. Past performance is no guarantee of future results. Not bank guaranteed. Not FDIC insured.
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