Retirement calculator
See what your savings could grow to by the time you retire — and the monthly income that might support.
Returns compound monthly; contributions are added at the end of each month. The withdrawal rate estimates sustainable yearly income (4% is a common rule of thumb).
Projected savings at retirement
How the retirement projection works
A retirement calculator estimates how much your savings could be worth when you stop working. It takes what you have saved today, adds the contributions you plan to make each month, and grows the whole balance at an assumed annual return — using the same compounding math that drives a 401(k), IRA, or pension fund. The earlier you start and the longer your money compounds, the larger the share of your final balance that comes from growth rather than from your own contributions.
The formula
P is your current savings, PMT is your monthly contribution, r is the monthly return (annual rate ÷ 12), and n is the number of months until retirement (years × 12). Estimated yearly income then applies your withdrawal rate to the final balance.
Worked example
You are 30, plan to retire at 65, have $20,000 saved, add $500 a month, and expect a 7% return. Your savings could grow to roughly $1.1 million. Of that, about $230,000 is money you put in and around $900,000 is investment growth. At a 4% withdrawal rate, that supports about $3,800 a month in retirement income before tax and inflation.
These are projections, not guarantees — real returns vary year to year and inflation reduces future buying power. Treat the result as a planning guide and revisit it as your savings and goals change. To explore the underlying growth in more detail, try the compound interest calculator.
Frequently asked questions
How much do I need to retire?
A common guideline is to aim for savings of about 25 times your expected annual spending, which pairs with a 4% withdrawal rate. The exact figure depends on your lifestyle, other income such as Social Security or a pension, and how long your retirement lasts.
What is a realistic rate of return to assume?
Many long-term plans assume around 6% to 7% a year for a stock-heavy portfolio before inflation, and less for more conservative mixes. Lower assumptions are safer for planning. You can try several rates here to see how sensitive your result is.
What is the 4% rule?
It is a rule of thumb that you can withdraw about 4% of your retirement savings in the first year, then adjust for inflation, with a good chance the money lasts roughly 30 years. It is a starting point, not a guarantee, so adjust the withdrawal rate to match your situation.
Does this calculator account for inflation?
No. The projected balance and income are in future dollars, before inflation and tax. As a rough adjustment, subtract your expected inflation rate from the return to see results closer to today's buying power.
Why does starting early matter so much?
Because of compounding, money invested in your twenties and thirties has decades to grow. Even modest early contributions often outgrow much larger contributions started later, which is why beginning sooner is the single biggest lever you control.
Financial disclaimer: This calculator is for general information and education only and is not financial advice. Estimates are based on the figures you enter and standard formulas, and may not reflect every fee, tax, or rate change. See our full disclaimer and confirm important decisions with a qualified professional.