How the Retirement Savings Calculator works
Project retirement savings over time. Adjust the inputs above, then use the calculate button to generate a fresh estimate based on the numbers you entered.
The result is designed to give you a quick planning number, plus a short breakdown of the major figures behind it. You can reset the form at any time and try a different scenario.
When to use this calculator
Use this retirement savings calculator to project how your current balance and monthly savings may grow before retirement. It is helpful for testing contribution amounts, timelines and return assumptions.
Formula
Future savings = current balance compounded over time plus compounded monthly savings
- Current savings is the amount already invested or saved.
- Monthly savings is the amount added regularly.
- Annual return is the assumed long-term growth rate.
- Years to save is the time before retirement.
Worked example
For $100,000 saved, $1,000 added monthly, a 6% annual return and 25 years to save, the calculator estimates a future retirement balance.
Common mistakes
- Using an optimistic return to make the plan look comfortable.
- Ignoring inflation when judging future buying power.
- Forgetting to increase contributions as income changes.
FAQs
What return should I use?
Use a realistic long-term estimate for your investment mix and test lower returns for caution.
Does this include employer matches?
Include employer contributions in monthly savings if they are expected and recurring.
Is the future value guaranteed?
No. Investment returns can vary and may be negative in some years.