Calculate how much you need to save for retirement.
Enter your current age, target retirement age, current retirement savings, monthly contribution amount, and expected annual investment return.
The calculator projects your total savings at retirement and estimates the monthly income you could draw over a 30-year retirement period.
Adjust your monthly contribution and expected return to explore different scenarios and find a plan that meets your retirement income goals.
Retirement savings projection:
FV = PV(1 + r)^n + PMT × [((1 + r)^n − 1) / r]Monthly retirement income (simple drawdown over 30 years):
Monthly Income = Total at Retirement / (30 × 12)Where PV = current savings, PMT = monthly contribution, r = monthly return rate, n = months until retirement.
Example: Age 30, retiring at 65, $25,000 saved, contributing $500/month at 7% annual return:
Example 2: Same scenario but contributing $750/month:
A common guideline is to save 25 times your desired annual retirement spending (the 4% rule). If you want $60,000/year in retirement, aim for $1.5 million. Adjust based on expected Social Security benefits and other income sources.
The 4% rule suggests withdrawing 4% of your portfolio in year one of retirement, then adjusting for inflation each year. Historically, this approach has sustained portfolios for 30+ years, though market conditions vary.
As early as possible. Starting at 25 vs. 35 with the same monthly savings can result in nearly double the final amount due to compound growth. Even small amounts invested early have decades to grow.
If your employer offers a 401(k) match, contribute at least enough to get the full match — it is free money. After that, consider a Roth IRA for tax-free growth. Then maximize 401(k) contributions up to the annual limit.