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Retirement Savings Calculator

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How to Use the Retirement Calculator

Enter your current age, target retirement age, current savings, and monthly contribution. Set your expected annual return and inflation rate to see how your savings will grow year by year.

The calculator uses the future value formula: FV = P(1+r)^n + PMT × ((1+r)^n − 1) / r, where P is current savings, r is the monthly rate, n is total months, and PMT is the monthly contribution.

The estimated monthly income is based on a 20-year withdrawal period (240 months). Results are projections for informational purposes only and do not constitute financial advice. Actual returns will vary.

Frequently Asked Questions

How much should I save for retirement each month?
A common guideline is to save 15% of your gross income for retirement, including any employer match. The right amount depends on your current age, existing savings, desired retirement lifestyle, and expected retirement age. Use this calculator to find the monthly contribution needed to reach your goal.
What annual return rate should I use?
Historically, a diversified stock portfolio has returned approximately 7–10% annually before inflation. A conservative estimate of 5–7% is often used for long-term retirement planning. The default in this calculator is 7%.
How does inflation affect my retirement savings?
Inflation reduces the purchasing power of your money over time. For example, $1,000,000 in 30 years will have the purchasing power of roughly $412,000 today at 3% annual inflation. The 'Real Value' shown in this calculator adjusts your projected savings for inflation.
What is the 4% withdrawal rule?
The 4% rule suggests you can withdraw 4% of your savings annually without running out of money over a 30-year retirement. For example, $1,000,000 in savings allows a $40,000 annual ($3,333/month) withdrawal. This calculator estimates income based on a 20-year withdrawal period as a conservative alternative.