Enter every debt you carry, your age today, and when you want to retire. The calculator shows the exact monthly payment required to arrive at retirement with a zero balance — and if that payment is too high, lets you adjust it to see your real debt-free date.
The age at which you want to stop working and carry zero non-mortgage debt
Add every debt you want paid off by retirement. You can include your mortgage if you want it gone too, or focus on consumer debt only. Include credit cards, car loans, personal loans, student loans — everything with a balance and an interest rate.
| Year | Your Age | Starting Balance | Total Paid | Interest Paid | Principal Paid | Ending Balance |
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If your required payment is within reach, this is your plan. If the number feels out of reach, Retirement Planning & Prep covers strategies including settlement to reduce balances, debt consolidation options, and Social Security timing. Or if you're already in retirement carrying debt, see Debt in Retirement for your options.
Entering retirement with debt is not just a mathematical problem — it is a structural one. Every dollar of monthly debt payment in retirement is a dollar that must come from your Social Security, your savings withdrawals, or your pension. Unlike during your working years, you cannot increase your income by working harder or getting a raise. Your income is largely fixed. That makes debt payments — especially high-interest consumer debt — disproportionately painful on a fixed income.
The math above shows what it takes to eliminate that burden on your own timeline. Debt settlement, in which a company negotiates with creditors to resolve an unsecured debt for less than the full balance, can reduce the total balance you need to pay off — which in turn reduces the required monthly payment. Reported results vary widely by creditor, account age, and individual circumstances, and settlement has costs and credit/tax consequences; it is not right for everyone. See Your 5 Options Explained for a full comparison.
For comprehensive retirement planning including Social Security timing, Medicare prep, and insurance strategy, continue to Retirement Planning & Prep.