Retirement Savings Calculator
Project how much you'll have saved by retirement based on your current savings, monthly contributions, and expected annual return.
This calculator provides estimates only and is not financial advice. Consult a qualified financial advisor for personalized guidance.
How to use this calculator
Enter your current age, target retirement age, current savings balance, planned monthly contribution, and the annual return you expect to earn, then click Calculate Retirement Savings. The results show your projected balance at retirement, and how much of it came from what you put in versus investment growth.
How is this calculated?
The calculator compounds your current savings monthly at your expected rate of return, and grows your monthly contributions as an ordinary annuity over the number of months until retirement, then adds the two together for your projected balance. This does not account for inflation, taxes, employer matching, or changes to your contribution amount over time.
Frequently Asked Questions
How much should I save for retirement?
A common rule of thumb is to save 15% of your pre-tax income for retirement each year, but the right number depends on your target retirement age, expected expenses, and other income sources like Social Security or a pension. Try different monthly contribution amounts above to see how they affect your projected savings.
What rate of return should I assume?
Many long-term planning tools use 6–8% as a rough estimate for a diversified portfolio, but actual returns vary from year to year and are never guaranteed. Using a more conservative rate gives a more cautious, and often more realistic, projection.
Does this calculator account for inflation?
No. The projected savings figure is in future, non-inflation-adjusted dollars. If you want to think in today's purchasing power, you can lower the expected return you enter to roughly approximate a "real" (inflation-adjusted) growth rate instead.
What if I increase my contributions over time?
This calculator assumes a fixed monthly contribution for the entire period. It does not model raises, employer matching, or increasing contributions over time, so if your contributions grow, your actual balance could end up higher than this estimate.