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Retirement Savings Calculator

Find out whether your current savings and contributions are on track to meet your retirement income goals. See the gap or surplus and the monthly contribution needed to stay on course.

Your age today.

The age at which you plan to retire and stop working.

The total amount you have already saved toward retirement across all accounts.

How much you contribute to retirement accounts each month, including any employer match.

The average annual investment return you expect before retirement.

The monthly income you want during retirement, in today's dollars.

How many years you expect to live in retirement (a common estimate is 25 to 30 years).

This retirement savings calculator projects the future value of your current savings and monthly contributions, then compares it against the nest egg you need to fund your desired retirement income. It shows whether you have a surplus or shortfall and calculates the monthly contribution that would close a gap.

How It Works

Retirement Projection Formula

FV = PV(1 + r)^n + PMT × ((1 + r)^n - 1) / r ; Nest Egg = Monthly Income × 12 × Retirement Years

Future savings are the compounded current savings plus compounded monthly contributions. The required nest egg is the desired annual income multiplied by the number of retirement years.

FV is the projected savings at retirement

PV is current retirement savings

PMT is the monthly contribution

r is the monthly return rate (annual rate / 12)

n is the number of months until retirement

The required nest egg uses a simplified withdrawal model without further investment growth in retirement

Important Notes:

  • •Pre-retirement growth is compounded monthly at the specified return rate.
  • •The required nest egg uses a simple multiplication of annual income by retirement years. It does not model continued investment growth during retirement.
  • •Inflation is not explicitly modeled — use inflation-adjusted return rates for more accurate planning.
  • •This is a simplified projection; professional financial planning may use Monte Carlo simulations and variable return assumptions.

Worked Example

A 30-year-old with $50,000 saved, contributing $500 per month at 7% return, wanting $4,000 per month for 25 years of retirement.

Inputs:

  • current Age:30
  • retirement Age:65
  • current Savings:50,000
  • monthly Contribution:500
  • expected Return Rate:7
  • desired Monthly Income:4,000
  • expected Retirement Years:25

Result:

By age 65, projected savings would reach roughly $1,065,000. With a desired income of $4,000 per month for 25 years, the required nest egg is $1,200,000 — leaving a gap of about $135,000. Increasing the monthly contribution to approximately $565 would close the gap.

Who Is This Calculator For?

  • retirement planners
  • working professionals
  • pre-retirees
  • financial advisors

Frequently Asked Questions

A widely cited guideline is to have 25 times your annual expenses saved by retirement (the 4% rule). For example, if you want $48,000 per year in retirement, you would target $1,200,000 in savings. Your actual number depends on retirement length, lifestyle, healthcare costs, and other income sources.
The 4% rule suggests that you can withdraw 4% of your retirement savings in the first year, then adjust for inflation each subsequent year, and your money should last roughly 30 years. It is a useful guideline, but not a guarantee — actual results depend on market conditions and spending patterns.
For the most realistic projection, use a real (inflation-adjusted) return rate. If stocks historically return about 10% and inflation averages 3%, a real return of 7% is a reasonable assumption. This way the calculator output is closer to today's purchasing power.
Subtract your expected pension or Social Security income from your desired monthly retirement income before entering it into the calculator. For example, if you want $4,000 per month and expect $1,500 from Social Security, enter $2,500 as your desired monthly income.
You can close a gap by increasing your monthly contributions, working a few extra years, reducing your planned retirement spending, pursuing a higher-return investment strategy (with more risk), or combining these approaches. Even small increases in savings rate compound significantly over decades.
Include your employer match in the monthly contribution amount. For example, if you contribute $300 per month and your employer adds $200, enter $500 as your total monthly contribution.

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Last updated: April 11, 2026