Retirement Calculator 2022 Edition

A year or two ago I decided to create a retirement calculator to help me figure out my finances for when I was getting ready to retire. It occurred to me earlier today that I have done a poor job of keeping it current, so I decided to spend a few minutes and get it fully updated (I think) for 2022.

Changes include:

  • Updated the 2021 pay rates to their actual rates
  • Added the 2022 pay rates
  • Added projected 2023 pay rates (assumes a 4.6% raise as stated in USC).
  • Updated VA disability rates
  • Updated federal tax brackets
  • Modified the formula for Social Security Withholdings to max out at $147,000 for the year (did you know that you can actually make enough that they stop taking out social security? I didn’t until I started to have more in my paycheck on month towards the end of the year).

You can find the new and updated calculator here.

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