Retirement Savings Calculator

A Retirement Savings Calculator estimates how your current savings, monthly contributions, and investment returns may grow until retirement. It provides an overview of your potential nest egg and a ballpark figure for monthly income post-retirement.

Compound interest allows your earnings to start earning more returns. Over time, this can lead to exponential growth, especially if you contribute regularly. The earlier you start, the greater the compounding effect and the bigger your retirement fund.

Over years, the purchasing power of money usually decreases. Accounting for inflation ensures your savings can still cover living expenses decades from now. If the tool estimates a 2–3% inflation rate, you’ll see how real returns might be lower than nominal returns.

We use a simple withdrawal rate (like 4%) or an annuity-style approximation to estimate monthly income from your final balance. Real outcomes can vary based on market fluctuations, longevity, and changes in spending patterns. Use this as a rough guide rather than a guarantee.

This tool focuses on investment-based retirement savings. For Social Security or pension income, either add them to your final monthly estimate or keep them separate for clarity. A financial planner can integrate all sources for a more comprehensive approach.

Simply adjust the current age and retirement age fields. A few extra years of compounding can make a substantial difference, while retiring earlier might require higher monthly contributions or accepting a lower monthly retirement income.

The “Copy” button exports your final retirement balance, monthly retirement income, and key assumptions. Share it with your spouse, financial advisor, or keep it in a personal finance note for long-term planning.

A common rule is to save at least 10-15% of your annual income for retirement. Alternatively, aim for a final savings balance of 25 times your expected yearly expenses. Our calculator helps estimate how close you are to that goal based on your contributions and expected returns.

The 4% rule suggests that withdrawing 4% of your total savings annually can help your funds last for at least 30 years in retirement. This assumes a well-balanced portfolio and average market returns.

The earlier, the better! Starting in your 20s or 30s allows compound interest to work in your favor. If you begin later, you may need to contribute a higher percentage of your income to meet your retirement goals.

Taxes can reduce the amount you withdraw in retirement. Pre-tax savings accounts like401(k)s or traditional IRAs defer taxes until withdrawal, while Roth IRAs offer tax-free withdrawals if certain conditions are met. Consider a mix of both for tax efficiency.

While it’s possible to rely on pensions, Social Security, or savings, investments significantly boost retirement income through growth and compounding. A diversified portfolio can help your money outpace inflation and last longer.