Retirement Calculator
Estimate your retirement savings, investment growth, and inflation-adjusted value.
Enter 0 if you are starting without existing retirement savings.
Enter the amount you plan to add each month. Contributions are assumed to be added at the end of each month.
Use your own expected annual investment return. The calculator converts it to a monthly rate by dividing by 12. Future returns are not guaranteed.
Used to estimate the future balance in today's purchasing power.
Optional. Used only to estimate illustrative annual and monthly retirement income.
Year-by-Year Savings Projection
| Age | Starting Savings + Contributions | Investment Growth / Loss | Projected Balance |
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This calculator provides an illustrative estimate based on constant inputs and does not guarantee future returns or retirement income. Taxes, fees, changing contributions, market volatility, and other factors are not included.
How Does This Retirement Calculator Work?
Enter your current age, retirement age, current savings, monthly contribution, expected return, and inflation rate. The calculator projects how your savings could grow by retirement and shows the estimated value in today's money. Monthly contributions are assumed to be added at the end of each month.
Retirement Savings Formula
FV is projected savings, PV is current savings, r is the monthly return rate, n is the number of months, and PMT is the monthly contribution. The calculator estimates the monthly rate as the entered annual return divided by 12. Monthly contributions are treated as end-of-month contributions. If the return rate is 0%, projected savings equal current savings plus total future contributions.
Frequently Asked Questions About Retirement Savings
How much should I save for retirement?
The amount depends on your retirement age, spending needs, other income, investment returns, inflation, and how long retirement lasts. Use the calculator to compare different saving scenarios.
How does inflation affect retirement savings?
Inflation reduces purchasing power over time. The “Savings in Today's Money” result estimates what your projected future balance may be worth in today's terms.
What happens if I retire later?
Retiring later generally gives your savings more time to grow and allows additional contributions, which can increase the projected balance.
What rate of return should I use for retirement planning?
Use a reasonable long-term return assumption that fits your own investment mix and planning approach. Because future returns are uncertain, it can be useful to compare several different return-rate scenarios instead of relying on only one estimate.