Retirement Calculator
"How much do I actually need to retire?" is one of the most anxiety-inducing questions in personal finance, mostly because it feels unanswerable without a crystal ball. This calculator won't predict the future, but it will show you where your current savings and contribution rate are realistically headed — a far more useful starting point than guessing.
Enter your details to see your projected savings.
How to use this calculator
- Enter your current age and the age you plan to retire.
- Enter your current retirement savings and how much you contribute monthly.
- Set an expected annual return — 6-8% is a common long-term average assumption for a diversified portfolio.
- Click "Project my retirement savings" to see your estimated balance at retirement.
Why it matters
Retirement savings grow through two forces: what you contribute, and compound growth on top of it. Seeing the split between the two — and how many years you have left to let compounding work — helps you judge whether your current savings rate is realistically on track.
A worked example
Say you're 35 with $40,000 already saved, contributing $500 a month, and expecting a 7% average annual return until you retire at 65. Over those 30 years, your own contributions add up to $180,000 — but compound growth on top of that pushes your projected balance well past $700,000. That gap between what you put in and what the account actually grows to is the entire argument for starting early: the earlier the money goes in, the more decades it has to compound.
Frequently asked questions
What return rate should I use?
Many long-term planners use 6-8% for a diversified stock/bond portfolio, though actual returns vary year to year and are never guaranteed.
Does this account for inflation?
No — this projects nominal dollars. Inflation will reduce the real purchasing power of your projected balance over a long time horizon.
Should I include Social Security or a pension?
No, this covers savings-based retirement accounts only. Use the Social Security and Pension calculators separately, then add the results together.
How much should I actually be saving each year?
A commonly cited guideline is saving at least 15% of income annually, including any employer match — though the right number depends on your target retirement age and lifestyle.
Is there a rule of thumb for how much I should have saved by my age?
One widely used benchmark suggests roughly 1x your salary saved by 30, 3x by 40, 6x by 50, and 10x by 67 — useful as a rough gut-check, not a precise target for your specific situation.