Retirement Calculator
Project your retirement savings and the income they could provide.
Projection only. Real returns vary year to year and can be negative, and pensions, taxes and fees are not included. This is not financial advice.
| Retire at age | Projected savings |
|---|---|
| 55 | $458,121 |
| 60 | $652,822 |
| 65 | $915,444 |
| 67 | $1,044,568 |
| 70 | $1,269,682 |
Frequently asked questions
How much will I have at retirement?
This depends on how much you already have, how much you add each month, the return you earn and how long you have. As an example, $25,000 saved now plus $500 a month at 6% a year would grow to about $915,444 by age 65 if you start at 30.
What does “today’s money” mean?
Prices rise over time, so a large number in 30 years buys less than it does now. Dividing the future balance by inflation gives the value in today’s purchasing power. In the example above, $915,444 is worth about $385,742 in today’s money at 2.5% inflation.
What is the 4% rule?
The 4% rule is a rough guide suggesting you can withdraw about 4% of your savings in the first year of retirement, then adjust for inflation, with a good chance the money lasts around 30 years. It is a rule of thumb, not a guarantee.
What return should I assume?
Long-term stock-heavy portfolios have historically returned more than cash, but with big swings. Many planners use a cautious figure, often 4% to 7% per year before inflation. Try several values to see the range.
Does this include my state or workplace pension?
No. This only projects the savings you enter. A state pension, social security or an employer pension would add to your retirement income, so check what you are likely to receive and add it to your plan.
How much do I need to retire?
A common rule of thumb is about 25 times your yearly spending, which is the reverse of the 4% rule. For example, spending $30,000 a year would suggest a pot of about $750,000. Your own figure depends on other income, taxes and how long you expect retirement to last.
Is it too late to start saving at 45?
Not necessarily, but there is less time for growth. At 6%, saving $500 a month from nothing for 20 years gives about $231,020, compared with about $995,745 for 40 years. Saving more each month can make up part of the gap.
Should I use the nominal or the today's-money figure?
Use the today's-money figure when you want to judge whether the income will cover your costs, since it adjusts for rising prices. The larger nominal figure is the actual balance you would see on a statement in the future.
About this tool
This retirement calculator projects the value of your savings at the age you plan to retire, using monthly compounding and your regular contributions. It also shows the result in today’s money after inflation and the income a 4% withdrawal could provide.
Worked example
Take someone aged 30 who has $25,000 saved, adds $500 a month, earns 6% a year and plans to retire at 65. That is 35 years, or 420 monthly contributions. The calculator grows the starting balance with monthly compounding and adds the value of each contribution, which gives about $915,444.
Of that, only $235,000 was paid in, so roughly $680,444 comes from investment growth. Adjusted for 2.5% inflation, the balance is worth about $385,742 in today's money. A 4% withdrawal would provide about $36,618 in the first year, or around $1,286 a month in today's purchasing power.
Why starting early matters
Each year you delay shortens the time contributions can compound. Saving $500 a month from nothing and retiring at 65:
| Start age | Years saving | Projected savings | You paid in |
|---|---|---|---|
| 25 | 40 | $995,745 | $240,000 |
| 30 | 35 | $712,355 | $210,000 |
| 35 | 30 | $502,258 | $180,000 |
| 40 | 25 | $346,497 | $150,000 |
| 45 | 20 | $231,020 | $120,000 |
| 50 | 15 | $145,409 | $90,000 |
Starting at 25 instead of 45 means paying in twice as long, but the result is far more than twice as large, because early contributions have decades to grow.
How much does the monthly amount matter?
| Monthly | Projected savings | In today's money (2.5% inflation) |
|---|---|---|
| $200 | $488,031 | $205,642 |
| $500 | $915,444 | $385,742 |
| $800 | $1,342,857 | $565,841 |
| $1,200 | $1,912,741 | $805,974 |
Contribution size scales the result almost proportionally, so even a modest increase made early can have a large effect by retirement.
How the expected return changes the outcome
| Return | Projected savings | In today's money (2.5% inflation) | Annual income at 4% |
|---|---|---|---|
| 3% | $442,130 | $186,301 | $17,685 |
| 4% | $558,010 | $235,129 | $22,320 |
| 6% | $915,444 | $385,742 | $36,618 |
| 8% | $1,554,255 | $654,918 | $62,170 |
Nobody knows what returns will be, and real markets move up and down from year to year. Running the calculator at a cautious rate as well as an optimistic one gives you a range to plan around rather than a single number.
Using the 4% rule sensibly
The 4% figure is a rule of thumb for how much of a pot you might withdraw in the first year of retirement. It comes from historical US studies and is not a guarantee, and it does not allow for taxes, fees, or a retirement longer than 30 years. If you retire early, many planners suggest a lower starting percentage. Treat the income shown as a starting point for planning, and add any state pension or employer pension you expect to receive.
What this calculator leaves out
- Taxes. Withdrawals from some accounts are taxed, which reduces spendable income.
- Fees. Fund and account charges lower your real return, so consider using a rate slightly below the headline figure.
- Rising contributions. It assumes a fixed monthly amount, but many people save more as their pay grows.
- Other income. State and employer pensions are not included.
This is an illustration, not financial advice.