Is Your Retirement Goal On Track? Find Out Now

Quick Answer: Most Americans don't know if their retirement savings are on track. Use these benchmarks and key indicators to find out where you stand — and what to do next.

Understanding Your Retirement Destination

Retirement isn't just a milestone; it's a journey towards a lifestyle you've envisioned. Whether it's enjoying serene coastal living, exploring international destinations, or cherishing moments with family, clarity in your goals is crucial. This clarity helps align your income, lifestyle, and long-term objectives.

Defining Your Ideal Retirement Lifestyle

Before crafting a financial plan, visualize your retirement lifestyle. Consider the following elements:

Lifestyle Element	What to Clarify
Daily Routine	What will your average day look like?
Travel & Leisure	How often do you want to travel or splurge?
Family & Legacy	How important is leaving a legacy or helping loved ones?
Health & Care	What level of healthcare access or long-term support do you want?

This exercise is about making informed financial decisions that support your aspirations.

Aligning Your Income Plan with Your Vision

With a clear vision, evaluate your income sources. Consider:

• What income streams will you have? (Social Security, pensions, annuities, investments)
• Are they guaranteed or market-based?
• Do they align with your envisioned lifestyle?

This ensures your retirement income plan meets your real-world needs. Explore our calculators for more insights.

Assessing Your Guaranteed Income

One critical yet often overlooked question is: How much guaranteed income do you have, and is it sufficient? Sources like Social Security and fixed annuities provide stability regardless of market conditions. However, many retirees face a gap between guaranteed income and actual needs. Use our Guaranteed Lifetime Annuity Income Calculator to see how a Fixed Indexed Annuity (FIA) can enhance your income strategy.

An on-track goal is about more than hitting a number — it’s about funding the retirement you want to live.

Frequently Asked Questions

What is the 80% rule in retirement planning?

The 80% rule suggests that retirees should aim to replace 80% of their pre-retirement income to maintain their standard of living. This is a starting point and may vary based on individual circumstances.

How can I determine my retirement income needs?

To determine your retirement income needs, consider your desired lifestyle, expected healthcare costs, and longevity. Calculate your monthly expenses and compare them to your guaranteed income sources.

What are guaranteed income sources?

Guaranteed income sources include Social Security and fixed annuities. These sources provide a stable income regardless of market fluctuations.

How do I know if I'm on track for retirement?

Assess your current savings, projected income, and retirement goals. Use tools like retirement calculators to evaluate if your plan meets your future needs.

What should I do if there's a gap in my retirement income?

If there's a gap, consider adjusting your savings strategy, exploring additional income sources, or consulting a financial advisor to optimize your retirement plan.

Updated June 2026: As of June 2026, the IRS has increased the contribution limit for 401(k) plans to $24,000, allowing individuals to save more for retirement while taking advantage of tax-deferred growth options, including fixed indexed annuities as a safe money alternative.