The inflation rate affecting your projected salary and social security benefit, all along the retirement path, is 3%.
Your account balance is projected to earn 7% per year and your current salary is expected to increase at the rate of 3% per year.
You may credit your current 401(k) balance displayed above with other, outside investment accounts by increasing the amount displayed accordingly. This will give you a more complete retirement picture and reduce the amount you need to contribute.
Your estimated social security benefit is credited to your projected income goal in the math model. Ultimately, Social Security reduces the 401(k) balance needed to fund your retirement.
At age 65, an account withdrawal rate of 5% is assumed. This is the withdrawal rate most actuaries recommend.