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Retirement Calculator

Project your retirement savings from current savings and monthly contributions, in future and today's money.

Share of the balance taken out each year in retirement.

Result

Enter your values and select Calculate to see the result.

Runs in your browser — nothing you enter is sent to a server.

How the Retirement Calculator works

Enter your age, when you plan to retire, what you've saved and what you add each month. The calculator grows the balance at a steady annual return, compounded monthly, and shows the result both in future money and in today's money after inflation.

The withdrawal rate turns the balance into a yearly income. 4% is a common rule of thumb from US research on 30-year retirements; it's a guideline, not a guarantee.

Formula

B = S(1 + i)n + C × ((1 + i)n − 1) ÷ i

Where:

S
Current savings
C
Monthly contribution
i
Monthly return: annual return ÷ 12
n
Months until retirement

In today's money: B ÷ (1 + inflation)years.

Examples

Age 30 to 65, 20,000 saved, 500 a month, 6% return

874,826 at 65 — about 368,626 in today's money at 2.5% inflation. A 4% withdrawal gives 34,993 a year.

The same plan starting at 40

435,796 at 65 (235,064 in today's money): ten fewer years roughly halves the result.

Frequently asked questions

What return should I use?

It depends on how the money is invested. Long-term stock returns have historically been higher than bonds or cash but vary a lot year to year. Try a few rates to see a range.

Why show today's money?

A number 35 years away sounds bigger than it is. Dividing by inflation shows what it would buy at today's prices.

Are taxes and fees included?

No. Investment fees and taxes lower the real result; enter a slightly lower return to allow for them.

Information:

Good to know

Results are estimates for planning. They aren't financial advice, and real returns, rates and fees vary.

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