Retirement Savings Calculator

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This calculator helps you estimate how much you need to save for retirement based on your desired retirement income, current savings, and other factors.

More tools:Finance Calculators

How To Use

How to use this calculator

Start with your values, or try a preset.

Step 1

Enter Current Age, Retirement Age, Desired Annual Retirement Income, Current Retirement Savings, Annual Retirement Contribution, Estimated Annual Investment Return Rate, and Estimated Annual Inflation Rate in the units shown.

Step 2

Read Years Until Retirement, Inflation-Adjusted Desired Annual Retirement Income, Estimated Retirement Fund Needed (Assuming 4% Withdrawal Rate), Additional Savings Needed at Retirement, and Estimated Monthly Contribution Needed to Reach Goal in the results panel. Results update as you change the inputs.

Step 3

Choose a preset to load an example, then adjust the values for your situation.

Worked Examples

Example calculations

See the inputs and their calculated results.

Young Start

Current Age: 25 years; Retirement Age: 65 years; Desired Annual Retirement Income: 75,000 USD; Current Retirement Savings: 10,000 USD; Annual Retirement Contribution: 8,000 USD; Estimated Annual Investment Return Rate: 7 %; Estimated Annual Inflation Rate: 3 %

Years Until Retirement: 40 years; Inflation-Adjusted Desired Annual Retirement Income: 244,652.8344 USD; Estimated Retirement Fund Needed (Assuming 4% Withdrawal Rate): 6,116,320.86 USD; Additional Savings Needed at Retirement: 6,106,320.86 USD; Estimated Monthly Contribution Needed to Reach Goal: 12,721.50179 USD

Mid-Career

Current Age: 40 years; Retirement Age: 65 years; Desired Annual Retirement Income: 100,000 USD; Current Retirement Savings: 75,000 USD; Annual Retirement Contribution: 10,000 USD; Estimated Annual Investment Return Rate: 7 %; Estimated Annual Inflation Rate: 3 %

Years Until Retirement: 25 years; Inflation-Adjusted Desired Annual Retirement Income: 209,377.793 USD; Estimated Retirement Fund Needed (Assuming 4% Withdrawal Rate): 5,234,444.824 USD; Additional Savings Needed at Retirement: 5,159,444.824 USD; Estimated Monthly Contribution Needed to Reach Goal: 17,198.14941 USD

Late Start

Current Age: 50 years; Retirement Age: 67 years; Desired Annual Retirement Income: 60,000 USD; Current Retirement Savings: 25,000 USD; Annual Retirement Contribution: 12,000 USD; Estimated Annual Investment Return Rate: 6 %; Estimated Annual Inflation Rate: 2.5 %

Years Until Retirement: 17 years; Inflation-Adjusted Desired Annual Retirement Income: 91,297.09567 USD; Estimated Retirement Fund Needed (Assuming 4% Withdrawal Rate): 2,282,427.392 USD; Additional Savings Needed at Retirement: 2,257,427.392 USD; Estimated Monthly Contribution Needed to Reach Goal: 11,065.82055 USD

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Important

Treat this output as a planning estimate and confirm rates, tax rules, and contract terms before making financial decisions.