Plan your financial future with our free retirement calculator. Enter your current savings, monthly contributions, expected return, and years until retirement to see how much you’ll have when you stop working — and whether you’re on track.
Retirement Savings Calculator
Total Contributions:
Investment Growth:
Total at Retirement:
Based on compound interest, contributions made at start of each month.
How the Retirement Calculator Works
This calculator uses the future value of a growing annuity formula with monthly compounding. It combines your existing savings (growing at the annual rate) with new monthly contributions to project your balance on the day you retire.
Examples
- Age 35, $10,000 saved, $400/month, 7% return, 30 years: ~$489,000 at retirement
- Age 25, $0 saved, $300/month, 8% return, 40 years: ~$932,000 at retirement
- Age 45, $50,000 saved, $1,000/month, 6% return, 20 years: ~$626,000 at retirement
Suggested Retirement Savings Benchmarks
Financial advisors often suggest saving 10–15% of your income for retirement. A common rule of thumb: aim to have 1× your salary saved by 30, 3× by 40, 6× by 50, and 8× by 60 (Fidelity benchmarks). The "4% rule" suggests you can withdraw 4% of your savings annually without running out of money over a 30-year retirement.
Frequently Asked Questions
How much do I need to retire?
A common rule of thumb is to save 25× your annual expenses. If you spend $50,000 per year, you'd need about $1.25 million to retire comfortably using the 4% withdrawal rule.
What rate of return should I use?
Historically, the US stock market (S&P 500) has returned around 7% annually after inflation. Use 6–7% for a conservative estimate, or 8–10% for a more optimistic projection. Diversified portfolios typically range from 5–8%.
When should I start saving for retirement?
The earlier the better, thanks to compound interest. Starting at 25 instead of 35 can nearly double your retirement savings even with the same monthly contributions, because your money has 10 more years to compound.
What is a 401(k) and should I use it?
A 401(k) is an employer-sponsored retirement account in the US that lets you contribute pre-tax dollars, reducing your taxable income. If your employer offers a match, always contribute at least enough to get the full match — it's free money.
Is Social Security enough to retire on?
No. The average Social Security benefit in 2025 is around $1,800–$2,000 per month, which is typically not enough to cover all retirement expenses. Personal savings and investments are essential supplements.