Did we start saving for retirement too late?
“Work until 65” leaves the most at 60: $1.33M.
In today's dollars, from the same engine you'd plan with.
Marcus and Elena are 51 and 50. They raised three kids, helped with college and paid off their house, which is now worth about $400,000. Their own saving came last: $250,000 in Marcus's 401(k) and $20,000 in Elena's Roth IRA, on $130,000 a year between them.
They'd love to stop at 60 and travel to see the grandkids. They worry they started too late, that the money in the house is locked up, and that leaving work before 59½ means penalties.
3 futures
Each line is one future, projected year by year. Tap a name in the legend to hide or show it.
The numbers
At 60, the future with the most is “Work until 65”: $1.33M in today's dollars.
In every future, the money lasts to 95, where the projection ends.
| Future | Works until | At 55 | At 60 | At 65 | Money runs out |
|---|---|---|---|---|---|
| Work until 65 | 65 | $964k | $1.33M | $1.74M | Never |
| Max the 401(k), retire early | 58 | $1.00M | $1.16M | $892k | Never |
| Downsize, retire early | 58 | $979k | $1.13M | $926k | Never |
Net worth in today's dollars, by Marcus's age, in their plan as written. A single projection with steady returns (no market swings), run by Life Budget's engine as of October 4, 2026: income, payroll and state tax, retirement-account rules, the mortgage and inflation, year by year.
What happens in each future
Work until 65
- At 65: Last year of work; from here they live on what they've saved.
- The money lasts to 95, where the projection ends.
Max the 401(k), retire early
- At 58: Last year of work; from here they live on what they've saved.
- The money lasts to 95, where the projection ends.
Downsize, retire early
- At 53: Sells the house and buys the condo for $250k.
- At 58: Last year of work; from here they live on what they've saved.
- The money lasts to 95, where the projection ends.
Questions
Are Marcus and Elena real?
No. This is a sample household, written to be typical of people asking this question. Their plan runs on the same engine yours would: federal and state income tax, payroll tax, retirement-account rules, mortgages and inflation, year by year.
Can you take money from a 401(k) before 59½ without a penalty?
Often, yes. Under the rule of 55, if you leave your job in or after the year you turn 55, that employer's 401(k) can be drawn without the 10% early-withdrawal penalty; income tax still applies. Both early futures use it.
What are catch-up contributions?
From 50, the IRS lets you put more into a 401(k) and an IRA each year than younger savers can. The "Max the 401(k)" future uses every dollar of it.
What about health insurance before 65?
Stopping work before Medicare means buying coverage yourself. Every future here that stops work early pays for it until 65.
What does "today's dollars" mean?
Every figure is shown in what money buys now, with inflation taken out, so a number decades from now can be compared with one today.
Can I change their plans?
Some of it. Under "Try it", move the sliders and the engine re-runs their plans; nothing is saved. To change everything, create a free account and plan with your own numbers in the same simulator.
Run your own numbers
The same engine, with your income, accounts and plans. Free to start.
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