Retirement Savings Calculator

Estimate your savings at retirement based on your contributions and growth.

Retirement Savings Calculator Overview

Inputs:
  • Current Age
  • Retirement Age
  • Current Savings
  • Monthly Contribution
  • Annual Growth Rate
Output:

Your projected savings at retirement.

Formula:

Future Value = Current Savings × (1 + Rate)^Years + Monthly Contribution × (((1 + Rate)^Years - 1) / Rate) × 12

Assumes compound interest with monthly contributions.

Planning for Retirement

How Retirement Savings Grow

Your savings grow through compound interest, where earnings generate more earnings over time. Starting early and contributing regularly maximizes growth.

  • Early Start: $500/month at 7% from age 25 = ~$1M by 65
  • Late Start: Same contribution from age 35 = ~$500K by 65

Why It Matters

A solid retirement plan ensures financial security. Use it with our Net Worth Calculator or Tax Refund Calculator for a complete picture.

Frequently Asked Questions

It uses compound interest to project your savings growth over time, factoring in your current savings, monthly contributions, and expected return rate.

Historically, the stock market averages 6-8% annually after inflation. Use a conservative estimate like 5-7%.

A common goal is 10-12 times your annual income by retirement age, depending on lifestyle.

The earlier, the better—compound interest grows exponentially over time.

Yes, increase contributions or adjust your retirement age to meet your savings goal.

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