Retirement Calculator
Estimate how your retirement savings could grow over time based on your current age, retirement age, current savings, monthly contributions, and expected annual investment return.
Enter your current age.
Enter the age you hope to retire.
Enter the amount you currently have saved for retirement.
Enter how much you plan to contribute each month.
Enter your estimated average annual investment return.
How This Calculator Works
This calculator estimates how your retirement savings may grow by combining the future value of your current savings with the future value of your monthly contributions. It assumes your investments grow at a steady average annual return until retirement.
Formula
Future Value = Current Savings Growth + Monthly Contribution Growth
Example
If you are 32, plan to retire at 65, already have $45,000 saved, contribute $600 per month, and earn an average annual return of 7%, this calculator estimates how much your retirement balance could grow by the time you retire.
Frequently Asked Questions
What return rate should I use?
Many people use a long-term estimate such as 6% to 8%, but the right assumption depends on your investment mix, risk tolerance, and time horizon.
Does this include employer matching?
Not directly. If you receive an employer match, you can include it as part of your monthly contribution for a simple estimate.
Does this account for inflation?
No. This calculator estimates future dollars. Inflation can reduce the future purchasing power of your savings.
Can I use this for IRA or 401(k) planning?
Yes. This calculator works as a general retirement savings estimator and can be used for IRAs, 401(k)s, or taxable investment accounts.
Why do monthly contributions matter so much?
Consistent contributions give your money more time to grow, and compound growth can make a large difference over decades.