Retirement Savings Calculator
Our free Retirement Savings Calculator helps you project how much you'll have saved by retirement and whether it will meet your income needs. Whether you're just starting to save or reviewing your current progress, this tool provides clear projections to help you plan confidently.
Use this calculator to set retirement goals, evaluate if you're saving enough, or see how adjusting your contributions affects your future. Enter your age, savings, monthly contributions, and expected returns to see your projected retirement nest egg and estimated monthly retirement income.
Calculate Your Retirement Savings
At Retirement
$0
Monthly Income (4% Rule)
$0/mo
Investment Growth
$0
Years to Retire
35 years
⚠️ Potential Shortfall
To fund $60,000/year for 25 years, you'd need $1,500,000. You may be short by $1,500,000. Consider increasing contributions or adjusting expectations.
How This Retirement Calculator Works
This calculator projects your retirement savings using compound growth with regular contributions:
In plain English:
- FV = Future value at retirement
- P = Current savings
- PMT = Monthly contribution
- r = Monthly return rate
- n = Months until retirement
For retirement income, we use the 4% rule: you can safely withdraw 4% of your savings annually (adjusting for inflation) without depleting your nest egg over a 30-year retirement.
Example Calculation
Let's project retirement savings for a 30-year-old:
- Current Age: 30
- Retirement Age: 65
- Current Savings: $50,000
- Monthly Contribution: $1,000
- Expected Return: 7% annually
What happens over 35 years:
- Total contributions: $50,000 + ($1,000 × 420 months) = $470,000
- With 7% compound growth over 35 years
- Projected retirement savings: $1,984,623
- Investment growth: $1,514,623 (more than 3x your contributions!)
Retirement Income (4% Rule):
- Annual withdrawal: $79,385
- Monthly income: $6,615
- This can last 25+ years while your remaining balance continues growing
Why Use This Calculator
Key Benefits:
- See if you're on track to meet retirement goals
- Understand how much you need to save monthly
- Visualize the power of starting early
- Estimate your retirement income
- Identify potential shortfalls before it's too late
Common Mistakes This Calculator Helps You Avoid:
- Not knowing if you're saving enough for retirement
- Underestimating how much you'll need in retirement
- Delaying retirement savings and missing years of compound growth
- Setting unrealistic return expectations
- Not adjusting plans as circumstances change