See if you’re on track for retirement. This free retirement savings calculator projects your nest egg from your current savings, monthly contributions and return — and compares it to your goal.
Estimate only, in nominal dollars. Returns vary and are not guaranteed.
How the Retirement Savings Calculator Works
Retirement savings grow from two sources: the money you put in and the returns that compound on top of it. This calculator projects both forward from today until your target retirement age, splitting the final balance into what you contributed versus what growth added, and checks the total against an optional goal.
Formula: Future value of current savings = P × (1 + i)^N. Future value of contributions = M × ((1 + i)^N − 1) ÷ i. Projected balance = both added together, where i = Annual return ÷ 12 ÷ 100 and N = (Retirement age − Current age) × 12.
- P — Current savings, what you already have set aside
- M — Monthly contribution, the fixed amount added each month
- i — Monthly return rate, the annual return divided by 12
- N — Number of months until retirement, years to retirement × 12
- Goal — An optional target balance the projection is compared against
Example Scenarios
| Age → Retirement | Current Savings | Monthly Contribution | Annual Return | Projected at Retirement |
|---|---|---|---|---|
| 30 → 65 | $20,000 | $300 | 7% | ≈$770,000 |
| 40 → 65 | $50,000 | $500 | 6% | ≈$570,000 |
| 25 → 65 | $5,000 | $200 | 8% | ≈$819,000 |
| 50 → 65 | $150,000 | $800 | 5% | ≈$531,000 |
Retirement Savings Calculator FAQ
Does this projection account for inflation?
No, the projected balance is in nominal dollars — the actual future dollar amount, not adjusted for the shrinking purchasing power of money over time. A large number decades out will buy less than the same number would today.What annual return rate should I actually use?
This is your own assumption to make, based on how your savings are invested. There’s no universally correct number; conservative, moderate, and aggressive portfolios produce very different long-run averages, and past performance never guarantees future returns.What happens if I leave the retirement goal field blank?
The calculator still projects your balance at retirement — the goal field is optional and only used to show a goal status percentage. Without it, you’ll see the projected total but no comparison against a specific target.Why does the growth portion look so much bigger than what I contributed?
Because compounding accelerates over long time horizons — returns earned in early years themselves earn returns in later years. The longer the stretch between today and retirement, the larger the growth share tends to be relative to contributions.Does changing my contribution or my return rate matter more?
Both move the result, but over long time horizons the return rate tends to have an outsized effect because it compounds on the entire growing balance, not just new contributions. Small rate differences can add up to large gaps decades out.Can I use this if I plan to retire earlier or later than 65?
Yes — enter whatever retirement age you’re targeting. The calculator simply uses the gap between your current age and that target to determine how many months of growth and contributions to project.Related Calculators
Pair this projection with account-specific tools like the 401k growth calculator or the Roth IRA calculator to model tax-advantaged accounts separately, or use the broader retirement calculator to see how long your savings could last once you start withdrawing.