A retirement savings plan with a clear monthly number
You know you should save for retirement but not how much, where, or whether you're on track. This prompt has your todo.is agent estimate what you'll need, run savings scenarios in an Excel model you can edit, explain the account types and tax relief available in your country and set a yearly check-in. It's planning help, not regulated financial advice.
The prompt
- Make me a retirement savings plan. I'm [AGE] and want to retire at [RETIREMENT AGE]. I live in [COUNTRY]. I earn [INCOME] and already have [CURRENT SAVINGS] saved for retirement. I'd like to live on about [YEARLY SPENDING IN RETIREMENT] a year in today's money. Estimate my target pot and how much I need to save each month, with 3 return scenarios (cautious, middle, strong) and inflation. Explain the retirement account types and tax relief in my country with links to official sources, and list next steps. Send an Excel model I can change and a short PDF summary. Remind me by email every January to update it.
What to change
- [AGE]: Your age today, e.g. "38".
- [RETIREMENT AGE]: When you'd like to stop working, e.g. "62" or "as early as possible".
- [COUNTRY]: So the agent explains the right accounts and state pension, e.g. "US", "UK", "Germany".
- [INCOME]: Yearly before tax, with currency. Add a partner's if you plan together.
- [CURRENT SAVINGS]: Total in workplace and personal retirement accounts, and current monthly contributions, including any employer match.
- [YEARLY SPENDING IN RETIREMENT]: A guess is fine, e.g. "40,000 USD". Or write "70% of my income".
Example result
- Retirement savings plan
- Age 38 · retire at 62 · US · income 85,000 · 120,000 saved · 600 a month now incl. employer match · wants 40,000 a year in today's money
- All figures are illustrative assumptions. Change them in the Excel model.
- Your target
- • Spending goal: 40,000 a year
- • Estimated Social Security from 67: about 18,000 a year in today's money (check your own statement on the official site)
- • Gap to fund from savings: about 22,000 a year, more between 62 and 67
- • Using a 4% withdrawal rule of thumb, target pot: about 550,000 plus a bridge fund of about 90,000 for the years before Social Security
- • Total target: about 640,000 in today's money
- How much to save each month (24 years)
- • Cautious (4% a year before inflation, 2.5% inflation): about 1,450 a month
- • Middle (6%): about 1,050 a month
- • Strong (8%): about 720 a month
- • You save 600 now. The middle case needs about 450 more a month.
- Where to put it (US)
- • 401(k): contribute at least enough to get the full employer match first
- • Roth or traditional IRA: tax-advantaged, with yearly limits set by the IRS
- • HSA (if you have a high-deductible plan): can work as extra retirement savings
- • Taxable brokerage: for the bridge years before 59½
- • Check current contribution limits on irs.gov; they change each year
- Next steps
- • Raise your 401(k) contribution by 2% now and 1% each year
- • Open an IRA and set an automatic monthly transfer
- • Choose low-cost diversified funds; keep fees low
- • Keep an emergency fund separate so you don't dip into retirement money
- In the Excel model
- • Inputs sheet: age, income, savings, returns, inflation
- • Year-by-year projection to age 90
- • Chart of the 3 scenarios
How to do it with todo.is
- Copy the prompt and fill in your age, retirement age, country, income, savings and spending goal.
- Paste it into todo.is or send it to your agent on WhatsApp.
- You get an Excel model with 3 scenarios and a PDF summary with links to official sources.
- Change the inputs yourself, or ask "what if I retire at 60?". Every January your agent reminds you to update it.
Tips for a better result
- Always take the full employer match first. It's the highest return you'll get on your money.
- Use today's money for your spending goal and let the model handle inflation. It's much easier to picture.
- Small increases add up: raising your rate by 1% every year is easier than a big jump.
- Ask your agent to explain any term in plain words, then check big decisions with a licensed financial adviser.
retirement savings plan: FAQ
- How much should I save for retirement? A common guide is 10% to 15% of income, including any employer match, starting in your 20s or 30s. If you start later or want to retire early, you need more.
- What is the 4% rule? It's a rule of thumb that withdrawing about 4% of your pot in the first year, then adjusting for inflation, has historically lasted around 30 years. It's a guide, not a guarantee.
- Is it too late to start saving for retirement at 50? No. You have fewer years, so you may need to save more, work a little longer or use catch-up contributions if your country allows them.
- Is this financial advice? No. Your agent gives general information and calculations. For decisions about your money, talk to a licensed financial adviser.
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