Retirement Savings Calculator
Planning for retirement starts with knowing how much you'll need. Our Retirement Savings Calculator projects your total savings at retirement based on your current savings, monthly contributions, and expected annual return.
What Is
A retirement savings calculator is a financial planning tool that estimates how much money you will have saved by the time you retire. It takes into account your current savings, monthly contributions, expected annual rate of return, and the number of years until retirement. By factoring in compound interest — where your earnings generate their own earnings over time — this calculator helps you project the future value of your nest egg. Whether you are just starting to save for retirement or are decades into your career, understanding your projected savings can help you adjust your contribution rate, choose the right investment vehicles, and set realistic retirement goals. A commonly cited guideline is to save 10-15% of your annual income for retirement, but the right amount depends on your desired lifestyle, expected retirement age, and other income sources such as social security or pensions.
How to Use
- Enter your current age and planned retirement age
- Input your current retirement savings
- Set your monthly contribution amount
- Enter your expected annual return rate
- Click Calculate to see your projected retirement savings
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Frequently Asked Questions
How much should I save for retirement?
A common rule is to save 15% of your gross income, including any employer match.
What retirement accounts can I use?
401(k), IRA, Roth IRA, and pension plans are common options with different tax benefits.
When should I start saving?
As early as possible. Starting at 25 vs 35 can mean hundreds of thousands in difference.
What return rate should I assume?
7% inflation-adjusted is a conservative estimate for a diversified portfolio.
What if I'm behind on savings?
Increase contributions, delay retirement, or reduce expenses. Every year counts.