Retirement Calculator
Project your retirement savings balance based on current age, target retirement age, current savings and contribution rate — and figure out how much you actually need to save each month.
How to use the Retirement Calculator
- Enter your inputs into the Retirement Calculator above.
- Results update instantly as you type — no submit button needed.
- Adjust any value to see how the result changes in real time.
The retirement projection formula
FV = P(1 + r)^n + C · [((1 + r)^n − 1) / r]
P is your current balance, r is the expected annual return (decimal), n is years to retirement, and C is the annual contribution. The result FV is the projected balance in nominal dollars at retirement.
Worked example
A 35-year-old with $50,000 saved, contributing $12,000/year and earning 7%: FV = 50,000×(1.07)^30 + 12,000×[((1.07)^30 − 1)/0.07] ≈ $1.51 million at age 65. Withdrawing 4% per year gives roughly $60,400/year of income.
Frequently asked questions
What return rate should I assume?
A 6–8% nominal annual return is a common planning assumption for a diversified stock-heavy portfolio. Conservative planners use 5%; aggressive ones use 9–10%.
What is the 4% rule?
A widely-cited withdrawal rule: take 4% of your starting balance in year one, then adjust for inflation each subsequent year. Historically this has supported a 30-year retirement in most market scenarios.
Should I include Social Security?
Yes — most planners subtract expected Social Security income from spending needs before sizing the portfolio. The Social Security Administration provides estimates in your annual statement.
How does inflation affect the projection?
The nominal projected balance looks impressive but loses purchasing power. To plan in today's dollars, use a real return (return minus inflation, typically 4–5%) instead of the nominal return.