Use this retirement savings calculator to estimate your future balance or the monthly contribution needed to reach a retirement goal. It is educational only and based on the assumptions you enter.
This calculator estimates retirement savings using a compound-interest style projection. In Wealth Builder mode, it grows your current savings and monthly contributions until your target retirement age. In Contribution Target mode, it estimates the monthly amount needed to work toward a chosen goal.
A simple compound interest formula is \(A = P(1+r/n)^{nt}\), where \(A\) is the future amount, \(P\) is the starting balance, \(r\) is the annual interest rate, \(n\) is the number of compounding periods per year, and \(t\) is time.
If you are age 30, have $10,000 saved, contribute $500 per month, and assume a 7% annual return, the calculator estimates your future balance at retirement age 65.
If your goal is $1,000,000 by age 65 and you are starting with current savings, the calculator estimates the monthly contribution needed to pursue that target.
How are projections calculated? The calculator uses a compound-interest style projection based on current savings, monthly contributions, the selected annual return, and the number of years until retirement.
Does this include inflation or taxes? No. This is a simplified educational model and does not include inflation, taxes, fees, or market volatility.
What is a reasonable return assumption? Many educational examples use conservative assumptions such as 5% to 7%, but any estimate is hypothetical and should be treated as illustrative only.
Why are the yearly milestones useful? They show how savings may grow over time and make the projection easier to understand.
This page does not store personal information from the calculator.
Disclaimer: This calculator is provided solely for educational and informational purposes and does not constitute financial, investment, tax, accounting, or legal advice. All projections are hypothetical and based only on the assumptions entered by the user. Actual results will vary and may differ materially due to market performance, inflation, taxes, fees, contribution changes, withdrawal timing, employer matching, Social Security, policy changes, and other personal or economic factors. No return or outcome is guaranteed. This calculator does not account for every possible retirement variable and should not be used as the sole basis for any financial decision. By using this site, you acknowledge and agree that, to the fullest extent permitted by law, the site owner assumes no liability for any actions taken in reliance on the information, estimates, or outputs generated by this calculator. You should consult a qualified financial, tax, or legal professional before making retirement planning decisions.