How to use the Retirement Calculator
The retirement calculator projects how large your savings could be at retirement and roughly what monthly income they could support.
Open the Retirement Calculator →
What you need to enter
- Current age
- Retirement age
- Current savings ($)
- Monthly contribution ($)
- Annual return (%)
- Inflation (%)
- Plan to age
The formula
Savings grow as balance × (1 + r)^n plus each month's contribution compounded. The result is also shown in today's money by dividing by (1 + inflation)^years.
Worked example
Using the default values in the calculator:
- Current age: 35
- Retirement age: 65
- Current savings ($): 50000
- Monthly contribution ($): 800
- Annual return (%): 6
- Inflation (%): 2.5
- Plan to age: 90
| Savings at retirement | $1,104,740.79 |
| In today's dollars | $526,677.09 |
| Monthly income (today's $) | $2,612.62 |
| Contributions + start | $338,000.00 |
Tips for better results
- Look at the "today's dollars" figure, because inflation reduces what money buys.
- Test lower returns, such as 4–5%, to see how sensitive the plan is.
Common mistakes to avoid
- Assuming a high return every single year.
- Ignoring inflation, which makes the future number look larger than it feels.
Please note: Calculators and guides give general estimates, not financial, tax or investment advice. Real offers depend on your lender, location and personal situation. See our Disclaimer.