Retirement Calculator
Calculate retirement savings goals, monthly contributions needed, and projected retirement income
Retirement Planning
Quick Scenarios
Retirement Projection
Retirement Summary
Savings Composition
Year-by-Year Growth
| Year | Age | Starting Balance | Contributions | Interest | Ending Balance |
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Plan Your Retirement
Enter your current age, savings, and contribution details above to see your retirement projection
Retirement Calculator FAQ
How is the retirement savings calculated?
The calculator uses compound interest with monthly contributions. Each month, your existing balance earns interest at the annual rate divided by 12, and your monthly contribution is added. This is repeated for each year until your retirement age. The year-by-year growth table shows this progression in detail.
What is the 4% rule used for monthly income?
The 4% rule is a widely accepted retirement planning guideline. It suggests you can withdraw 4% of your total retirement savings in the first year. We divide this annual amount by 12 to show your estimated monthly retirement income. This helps you assess whether your savings will support your desired lifestyle.
Why does inflation matter for retirement planning?
Inflation reduces the purchasing power of your money over time. A dollar today buys more than a dollar will in 30 years. Our calculator shows both your nominal savings and the inflation-adjusted value (in today's dollars) so you can realistically assess whether your retirement savings will meet your future needs.
What annual return rate should I use?
Historical stock market returns average around 7-10% per year before inflation. A balanced portfolio (stocks and bonds) might return 5-8%. Conservative investments (bonds, CDs) might return 3-5%. Use a rate that reflects your investment strategy and risk tolerance. Past performance does not guarantee future results.
How much should I save for retirement?
Financial experts generally recommend saving 10-15% of your income for retirement. A common rule of thumb is to have 1x your salary saved by age 30, 3x by age 40, 6x by age 50, and 8x by age 60. Use this calculator to test different contribution amounts and see what works for your goals.