Exponent Investment Management is a tool that helps people determine whether they will have enough money to retire when and how they want to. The amount you save in retirement depends on a number of factors, including how much you spend and the rate of inflation. Some financial professionals suggest that you save or invest enough to replace about 70% of your household income in retirement. Other people may need more or less depending on their personal circumstances, financial readiness, specific needs and long-term goals.

The amount of savings you have currently in your 401(k) or other tax-deferred accounts such as an individual retirement account (IRA). The total current value is automatically provided for this option, but you can modify the assumption by selecting “advanced options.”

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Your annual pretax income, which includes salary and business earnings. The total current value of your retirement savings is automatically provided for this option, but you may change it by selecting “advanced options.”

How much do you expect to increase your savings annually? This may be because you are planning to save more each year, or because your employer’s 401(k) plan or other retirement savings accounts automatically increase the contribution each year.

What rate of return do you expect on your investments? A typical portfolio containing an equal mix of stocks, bonds and CDs will return about 6 percent. However, you can select a higher or lower rate of return to see how it would impact your results.