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Retirement Calculator

Project how much you will have saved by retirement based on contributions and growth.

Your Plan

Future Value at Retirement
$1,015,810.37
Over 30 years of saving
Total Contributions
$230,000.00
Investment Growth
$785,810.37

Projected Growth

Year 0Year 30

What is the Retirement Calculator?

A retirement calculator is a free online tool that projects how much you'll have saved by retirement age based on your current savings, monthly contributions, expected rate of return, and years to retirement. Use it to see if you're on track and to model Social Security, 401(k) match, and IRA scenarios side by side.

Retirement Calculator formula

Future value combines a present-value amount and a series of contributions: FV = P × (1+r)^t + PMT × [((1+r)^t − 1) / r], where P is current savings, PMT is the monthly contribution, r is the monthly return (annual return ÷ 12), and t is the number of months until retirement.

How to use the Retirement calculator

  1. 1Enter your current retirement savings balance.
  2. 2Enter your monthly contribution (include any employer 401(k) match).
  3. 3Enter the expected annual return (6–7% is a common pre-retirement assumption).
  4. 4Enter the number of years until you retire.
  5. 5Review the projected balance, total contributions, and total growth.

Example calculation

A 35-year-old with $50,000 saved, contributing $500 per month at a 7% annual return until age 65 (30 years), would retire with about $1,015,776 — $230,000 from contributions ($50K starting balance + $180K monthly) and $785,776 from investment growth.

Frequently asked questions

How much money do I need to retire?
A common rule of thumb is 25× your annual expenses — the so-called '4% rule.' If you plan to spend $60,000 per year in retirement, aim for $1.5 million saved. Many retirees also factor in Social Security, pensions, and home equity.
How much should I contribute to my 401(k) per month?
At minimum, contribute enough to get your full employer match — that's free money. After that, aim for 15% of gross income (including the match) split between a 401(k) and Roth IRA for tax diversification.
What is a good rate of return for retirement planning?
Most planners use 6–7% real return (after inflation) for a stock-heavy portfolio. Use a more conservative 4–5% if your mix is bond-heavy or if you're within a few years of retirement.
How does Social Security factor into retirement income?
Social Security replaces about 40% of pre-retirement income for an average earner, with benefits starting as early as age 62 (reduced) or as late as age 70 (increased). Many retirees delay claiming to age 67 or 70 to lock in a higher monthly payment.

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