Money
Retirement savings calculator
Enter your age, the age you plan to retire, what you have saved, and what you add each month. The return and inflation rates are your assumptions.
- Contributions$230,000.00
- Growth$573,386.28
What this means
- At 6% a year, the balance reaches $803,386.28 by age 65.
- With 3% inflation, that buys about what $330,984.51 buys today.
- Returns vary from year to year. A steady rate is a simplification, so test a lower rate too.
What if
About this calculator
What this calculator does
It projects one retirement account balance. Your current savings grow at the assumed return, and each monthly contribution grows from the month it goes in.
How it is calculated
i = annual return / 12, N = months to retirement
balance = S * (1 + i)^N + C * ((1 + i)^N - 1) / i
today's dollars = balance / (1 + inflation)^years
How to read the result
The balance at retirement is in future dollars. The today's dollars line removes your inflation assumption so you can compare it with prices now.
Assumptions and limits
Contributions stay the same, the return is steady, and there are no withdrawals, fees, or taxes. Real markets rise and fall, so treat this as a range finder, not a plan.
Sources and method
Standard arithmetic with no outside data. The formula is shown under How it is calculated, and unit tests check worked examples, including edge cases.
This page uses arithmetic only, with no outside data.
Questions
What return should I assume?
That is your choice. Many people test a few rates. This page does not recommend one.
Why show today's dollars?
Prices rise over decades. Today's dollars show what the future balance could buy at current prices.
Does it include Social Security or a pension?
No. It covers one savings balance only.
Does it include taxes?
No. Traditional accounts are taxed on withdrawal, and Roth accounts are not. The balance here is before any tax.
Can I include an employer match?
Yes. Add the match to your monthly contribution.