Retirement Calculator
Use this retirement calculator to estimate how much you may have saved by retirement based on your current balance, yearly contributions, retirement age, and expected rate of return.
Last updated:
Results
- Years to retirement
- 35
- Projected balance
- $2,085,905.80
- Total contributions
- $460,000.00
- Investment growth
- $1,625,905.80
- Est. monthly income
- $6,953.02
Projected retirement balance
Year-by-year balance vs. cumulative contributions.
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Formula
FVsavings = Current × (1 + r)^t
FVcontrib = PMT × [((1 + r)^t − 1) / r]
Monthly income ≈ (Balance × Withdrawal Rate) / 12
How to calculate
- Find the number of years until retirement.
- Grow current savings using the expected annual return.
- Add the future value of recurring contributions.
- The combined total is the projected retirement savings at retirement age.
Worked example
Age 30, retiring at 65, $40,000 saved, $12,000/year, 7% return. After 35 years, balance grows to a sizable nest egg with most of the growth coming from compounding.
Frequently asked questions
How much should I save for retirement?
That depends on your income needs, retirement age, expected returns, inflation, and spending goals.
What rate of return should I use?
Many people use a conservative long-term estimate rather than an optimistic one.
Can I include employer match?
Yes. Add the matched amount to your annual contribution.
What is a safe withdrawal rate?
It is an estimated percentage of retirement assets that may be withdrawn yearly, though actual sustainability varies.
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Retirement projections are estimates only and do not guarantee investment returns or future income levels.