Retirement Savings Calculator

Estimate how much you need to save for retirement based on your current age, savings, and contribution rate.

Retirement income planning

Project how much your retirement savings could grow before you stop working.

Use this retirement savings calculator to estimate your future nest egg, compare contributions versus investment growth, and turn a vague retirement goal into a concrete monthly savings plan.

Combines current savings, monthly contributions, and compound growth

Shows the balance you may reach by your target retirement age

Includes a simple 4% rule estimate for potential retirement income

Current Age

yrs

18 yrs70 yrs

Retirement Age

yrs

30 yrs80 yrs

Current Savings

$0$2,000,000

Monthly Contribution

$0$10,000

Annual Return

0%15%

Uses a nominal annual return compounded monthly, with deposits at month end. A fractional month uses a continuous annuity extension. With a nonnegative return assumption, the projected balance cannot be below entered contributions. Equal ages add no future deposits or growth. The monthly income figure divides 4% of the projected balance by 12; it is an illustrative withdrawal estimate. Taxes, fees, inflation and market changes are excluded.

Total at Retirement

$1.5M

Total Contributions

$260,000

Investment Growth

$1.2M

Monthly Income (4% Rule)

$4,919.45

Savings Growth Projection

How to interpret your retirement projection

Your projected retirement balance is not a promise, but it is a strong planning anchor. What matters most is whether your savings rate and timeline are likely to produce enough income for the lifestyle you want later.

Building a workable nest egg

Your projection suggests meaningful retirement assets if you stay consistent.

Now the important question is whether the implied monthly income aligns with your expected retirement spending, healthcare costs, and housing situation.

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Savings Goal Calculator

Work backward from a target nest egg to the monthly amount you need to save.

Investment Return Calculator

Compare annualized return scenarios when you want to sanity-check performance assumptions.

What to do next

Once you have a retirement projection, turn it into an actionable contribution plan instead of a once-a-year thought experiment.

Check whether the 4% income estimate matches your future spending

Compare the projected monthly retirement income with housing, healthcare, taxes, and lifestyle needs so the target stays grounded.

Increase contributions before raising return assumptions

A higher savings rate is usually more controllable than hoping for better market performance every year.

Revisit the projection after major life changes

Income jumps, job changes, inheritance, or delayed retirement can all materially improve the plan if you update the math.

Model the compounding behind your retirement plan

How Retirement Savings Grow

Retirement savings grow through the power of compound interest — your contributions earn returns, and those returns earn additional returns over time. This compounding effect is the most powerful force in retirement planning, and it's why starting early matters far more than the amount you contribute.

The future value of your retirement savings is calculated using the compound interest formula: FV = PV(1+r)^n + PMT × [(1+r)^n − 1]/r, where PV is your current savings, PMT is your periodic contribution, r is the periodic return rate, and n is the number of periods. This calculator uses monthly compounding to give you the most accurate projection.

A key insight from this formula: the earlier you start, the more time compounding has to work. Starting at age 25 instead of 35 with $500/month at 7% yields approximately $1.37M vs. $680K by age 65 — starting 10 years earlier roughly doubles your final balance, even though you only contributed an extra $60,000.

The 4% Rule for Retirement Income

The "monthly income" result uses the 4% rule — a widely referenced guideline suggesting you can withdraw 4% of your portfolio in the first year of retirement, then adjust for inflation each year, with a high probability of your money lasting 30 years. Based on the Trinity Study (1998), this rule assumes a balanced stock/bond portfolio and has historically succeeded in over 95% of 30-year periods.

For example, a $1,000,000 retirement portfolio would generate approximately $40,000/year or $3,333/month under the 4% rule. This is a starting point — your actual safe withdrawal rate depends on asset allocation, retirement duration, and market conditions at the time you retire. Our Retirement Withdrawal Calculator lets you model different scenarios in detail.

How Much Should You Save for Retirement?

Common benchmarks suggest saving 10–15% of gross income for retirement, but the right amount depends on when you start, your desired retirement lifestyle, and other income sources (Social Security, pensions). A useful target: aim to have 10–12 times your final annual salary saved by retirement. At a $75,000 salary, that means $750,000–$900,000. At $150,000, it's $1.5M–$1.8M.