Retirement Calculator
Plan your retirement by calculating how much you need to save and estimating your retirement income.
What this calculator does
The Retirement Calculator estimates your result instantly from the values you enter, using standard retirement formulas. Plan your retirement by calculating how much you need to save and estimating your retirement income. Calculations run in your browser, so nothing you type is sent to a server, and the output is an estimate for planning rather than financial advice.
Retirement Projection
Retirement Readiness Assessment
About Retirement Calculator
The Retirement Calculator is a free online financial tool designed to help you make smarter money decisions. Plan your retirement by calculating how much you need to save and estimating your retirement income. Whether you're planning for the future or analyzing your current financial situation, this calculator provides instant, accurate results tailored to your needs.
Simply enter your details above and get personalized calculations in seconds. Our Retirement Calculator uses industry-standard formulas and up-to-date financial data to deliver reliable results you can trust. No signup required — completely free to use.
Understanding your finances is the first step to building wealth. Use this tool regularly to track your progress and make informed decisions about your money.
Formula & Mathematical Calculation
Projected Nest Egg = Current Savings × (1 + monthly return)total months + Monthly Contribution × [ (1 + monthly return)total months − 1 ] ÷ monthly return
Inflation-Adjusted Income Target = Desired Income × (1 + inflation)years
where monthly return = Return Rate ÷ 100 ÷ 12, total months = years × 12, and years = Retire Age − Current Age
Calculation Example
Suppose Current Age = 35, Retire Age = 65, Current Savings = $50,000, Monthly Contribution = $500, Return Rate = 6%, Inflation = 3%, Desired Income = $40,000, and Social Security = $20,000.
First, years = 65 − 35 = 30, total months = 30 × 12 = 360, and monthly return = 6 ÷ 100 ÷ 12 = 0.005. The growth factor (1 + 0.005)360 = 6.0225752.
Future value of savings = 50,000 × 6.0225752 = $301,128.76. Future value of contributions = 500 × (6.0225752 − 1) ÷ 0.005 = 500 × 1,004.51504 = $502,257.52. Adding them gives a projected nest egg of $803,386.28.
For the income target, (1 + 3 ÷ 100)30 = (1.03)30 = 2.4272625, so the inflation-adjusted desired income = 40,000 × 2.4272625 = $97,090.50 per year. Subtracting Social Security, the amount your portfolio must cover = 97,090.50 − 20,000 = $77,090.50 per year.
Key Benefits
- Combines a lump sum of current savings with a stream of monthly contributions to show one projected nest egg at retirement.
- Compounds every contribution at a monthly rate, so you see the effect of returns over the full number of months to retirement.
- Restates your desired retirement income in future dollars by growing it at your assumed inflation rate over the years remaining.
- Subtracts expected Social Security from the inflation-adjusted target so you know how much the portfolio itself must produce.
- Lets you test different retirement ages, return rates, and contribution amounts to see how each moves the projected balance.
How to Use this Calculator
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Enter your ages
Type your present age in the Current Age field and your planned retirement age in the Retire Age field, for example 35 and 65. Retire Age must be greater than Current Age; the difference sets the years and months of compounding. -
Enter savings and contributions
Type your existing balance in the Current Savings field, for example 50000, and your recurring deposit in the Monthly Contribution field, for example 500. -
Enter growth assumptions
Type your expected annual Return Rate as a percent, for example 6, and your assumed Inflation rate as a percent, for example 3. The return rate is divided by 100 and by 12 to compound monthly. -
Enter your income target
Type the annual income you want in the Desired Income field, for example 40000, and your expected annual Social Security in the Social Security field, for example 20000. -
Calculate
Press Calculate to see the projected nest egg, the inflation-adjusted income target, and the annual amount your portfolio must cover after Social Security.
Assumptions & Limitations
What the calculation assumes
- Every value you enter is treated as an exact, known amount.
- Rates and contributions are assumed to stay constant for the whole period unless the form asks for them separately.
- Results use standard financial formulas and ignore fees, penalties and promotional terms that are not entered above.
- Inflation, tax changes and market volatility are not modelled unless a field for them is provided.
- Amounts are unit-agnostic: results are returned in the same currency you enter.
What it does not cover
- Retirement Calculator produces estimates for education and planning, not a quote, offer or professional advice.
- Real-world outcomes differ when fees, taxes, rounding rules or provider-specific terms apply.
- Local regulations and tax rules vary by country and change over time; verify current rules for your jurisdiction.
- Figures are only as accurate as the inputs you supply — check them before acting on the result.
- For decisions with lasting financial impact, confirm the numbers with a qualified professional.
Frequently Asked Questions
Free to use, no account needed. Calculations run in your browser, so nothing you type is sent to a server. Results are estimates — how we build and check our calculators.
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Next step: browse the full Retirement calculators or read the related guides for context before you decide.