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Retirement Calculator

Plan your retirement savings, calculate future value, and determine if you're on track to meet your retirement goals.
Decision Context
Page-specific guidance for using this result in a real planning decision.

This page helps estimate whether current savings, contribution levels, and expected growth can support a target retirement timeline and spending goal.

Use it when you need to test tradeoffs such as retiring later, saving more each month, or adjusting expected retirement income needs.

Retirement outputs become more useful when you compare multiple assumptions side by side, especially inflation, withdrawal rate, and investment return sensitivity.

Methodology, assumptions, and limitations

The projection grows current savings and future contributions to retirement, then compares the estimated balance with the selected income or withdrawal assumptions. Testing several scenarios is more informative than relying on one output.

Assumptions
  • Contribution, return, and inflation assumptions remain consistent.
  • Retirement occurs at the entered age.
  • The model uses average returns rather than year-by-year market changes.
Limitations
  • Longevity, taxes, healthcare costs, and market sequence can materially change outcomes.
  • Pension and government benefits must be entered accurately.
  • This is planning information, not individualized financial advice.

Sources and standards

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Analysis
Interpretation of the current calculator output

Enter values to see detailed analysis and insights.

How to Use

Step-by-step instructions
  1. 1Enter your current age
  2. 2Input your target retirement age
  3. 3Add current retirement savings
  4. 4Specify monthly contribution amount
  5. 5Set expected annual return rate (typically 7-10%)
  6. 6Enter your retirement savings goal

Future Value of Retirement Savings

Calculates future retirement savings based on current savings, monthly contributions, and compound growth over time.
FV = PV(1+r)^n + PMT × [(1+r)^n - 1] ÷ r

Variables:

FVFuture value at retirement
PVPresent value (current savings)
PMTMonthly contribution
rMonthly rate of return
nNumber of months

Example

Retirement Planning Example

Inputs:

Current Age:30 years
Retirement Age:65 years
Current Savings:$50,000
Monthly Contribution:$1,000
Annual Return:7%
Retirement Goal:$1,000,000

Steps:

  1. 1.Years to retirement = 65 - 30 = 35 years
  2. 2.Future value of $50,000 at 7% = $50,000 × (1.07)^35 = $533,741
  3. 3.Future value of $1,000/month = $1,766,308
  4. 4.Total future value = $2,300,049
  5. 5.Goal: $1,000,000 - ON TRACK!
Result:
$2.3M projected savings exceeds $1M goal - on track for retirement

Frequently Asked Questions

What's a realistic rate of return?

S&P 500 has averaged ~10% annually over the long term. Conservative estimates use 7%, moderate 8-9%, aggressive 10-11%. Consider your risk tolerance and diversification.

How much should I save for retirement?

Common rule: Save 10-15% of gross income. Aim for 25× your annual expenses for the 4% withdrawal rule. If starting late, save 20%+ of income.

What if I'm behind on retirement savings?

Options: Increase monthly contributions, delay retirement, reduce expenses in retirement, maximize catch-up contributions (50+), work part-time in retirement.
Continue with calculators from the same topic.
Specific Guides
Focused pages for closely related calculation questions.
Retirement Calculator With Inflation

Estimate retirement savings needs with inflation in view so future spending goals are not understated in today’s dollars.