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Retirement Calculator

Enter your age, when you want to retire, what you have saved, and what you can put away each month. The calculator grows your savings month by month at your expected return, then shows the balance at retirement — in future dollars and in today’s dollars, after inflation — plus the monthly income the 4% rule says it can support, and a year-by-year table. Estimates only: returns are never guaranteed, and taxes, fees and Social Security are not included.

Your current age

Retirement age

Current savings ($)

Monthly contribution ($)

Expected annual return (%)

Expected annual inflation (%)

Raise your contribution each year by (%)

A 2–3% yearly raise roughly keeps your contribution level with inflation and pay rises.

Estimates only: the return is assumed steady every year, which never happens in real markets — actual results will be higher in good years and lower in bad ones. Taxes, fees, employer matches and Social Security are not included. Not financial advice.

How it works

Each month your balance grows by one twelfth of the annual return, then your contribution is added: B → B × (1 + r/12) + C. Over n months that compounds to the closed form FV = S(1+i)ⁿ + C((1+i)ⁿ − 1)/i, where S is your starting savings, C the monthly contribution and i the monthly return (annual return ÷ 12). The contribution-raise option grows C by the chosen percent at each yearly anniversary. Today’s dollars divide the future balance by (1 + inflation)^years, so the figure is in money that buys what a dollar buys now. The 4% rule says you can withdraw 4% of the balance in the first year of retirement and then adjust for inflation each year, for about 30 years — so monthly income is balance × 0.04 ÷ 12. Worked example: age 30, retiring at 65, $10,000 saved, $500/month, 7% return, 3% inflation. After 420 months the balance is $1,015,588.82 — but in today’s dollars that is $360,923.41, because 35 years of 3% inflation shrinks a dollar to about 36 cents. You contributed $210,000 and started with $10,000, so $795,588.82 of the total is growth. The 4% rule gives $3,385.30/month in future dollars, or $1,203.08/month in today’s dollars. Milestones along the way: $106,639.02 at 40, $300,850.72 at 50, $691,150.47 at 60 — notice how the last five years add more than the first fifteen: compounding is back-loaded. Worked example 2 (starting late): the same $10,000 and $500/month from age 40 instead of 30 gives $462,290.03 at 65 — starting ten years later costs you more than half the ending balance. Worked example 3 (no return): at 0% return the same plan ends at exactly $220,000 — the $10,000 start plus $210,000 of contributions, with no growth at all. Estimates only — not financial advice. Real returns vary every year, and inflation, taxes and fees change the outcome.

Frequently asked questions

What is the 4% rule?

A rule of thumb from retirement research: if you withdraw 4% of your balance in your first year of retirement and then adjust the amount for inflation each year, the money has historically lasted about 30 years. So a $1,000,000 balance supports about $40,000 a year, or $3,333 a month. It is a planning guide, not a guarantee — very low returns or very high inflation can break it, and a shorter retirement can tolerate more than 4%.

Why are there two balances — future dollars and today's dollars?

Because inflation shrinks what money buys. $1,015,589 in 35 years sounds like a lot, but at 3% inflation it buys what $360,923 buys today. The today's-dollars figure is the honest one for judging whether you will have enough — it is the balance in money you understand now.

What return should I assume?

A common planning figure for a diversified stock-heavy portfolio is 6–7% a year before inflation (about 3–4% after inflation), based on long-run US market history. A bond-heavy portfolio earns less; an all-cash plan earns roughly the inflation rate or less. Whatever you pick, remember it is an average — real years swing from −20% to +30%, and a bad run early in retirement hurts more than a bad run while you are still saving.

How much should I contribute each month?

A common target is 15% of your gross income (including any employer match). Try your income's 15% above and see where it lands; then try the contribution-raise option at 2–3% a year, which roughly keeps pace with pay rises and makes a big difference over decades.

Does starting early really matter that much?

Yes — it is the single biggest lever. The worked example shows it: starting at 30 instead of 40 with the same $500/month more than doubles the ending balance ($1,015,589 vs $462,290), because the early contributions get 10 extra years of compounding. An extra $100 a month started at 25 usually beats an extra $300 a month started at 45.

What about Social Security and taxes?

Not included — this calculator covers your own savings only. Social Security typically adds a meaningful monthly amount on top, and taxes on withdrawals (from a traditional 401(k) or IRA) reduce what you keep. Treat the 4% income above as before-tax, before-Social-Security income from your savings alone.

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