Retirement Savings Calculator

Estimate how much your retirement savings will be worth when you retire. This calculator projects your balance year-by-year, showing how your current savings, monthly contributions, employer match, and investment returns will grow over time. See your projected savings at retirement, how it compares to your goal, and when you might hit key savings milestones.

This tool is for anyone who wants to know if they are saving enough for the future. Whether you're just starting your career, mid-way through, or nearing retirement, a clear projection helps you make informed decisions. If you need a more comprehensive plan that includes retirement spending, taxes, and healthcare, try the main retirement calculator. For account-specific projections, see the 401(k) calculator or Roth IRA calculator.

The results provide a detailed look at your savings journey. You'll get a retirement savings score, a projection chart comparing your savings to benchmarks, a breakdown of contributions versus growth, and a year-by-year table of your progress. Use these insights to see if your savings plan is on track or if adjustments are needed.

Start by entering your timeline in the "Personal Details" section. Your current age and planned retirement age determine how many years your savings have to grow. Your annual income helps the calculator determine savings rates and compare your progress to common retirement savings benchmarks by age.

Next, input your current savings and contributions. Enter the total amount you have saved for retirement so far across all accounts. Then, add your monthly contribution—the amount you personally save each month. If your employer offers a match, enter that monthly amount as well. Getting the full employer match is one of the fastest ways to boost your savings.

Then, set your investment assumptions. The expected annual return is the average growth rate you expect from your investments. The inflation rate helps the calculator make more realistic long-term projections, though it's primarily used in the "how long money lasts" calculation.

Finally, define your retirement goal. You can let the calculator estimate a goal for you based on your desired annual retirement income and a safe withdrawal rate (like the 4% rule). Alternatively, you can set your own custom savings goal. This allows you to see if your current savings plan will reach the specific number you have in mind. For a deeper look at setting a target, see how much you need to retire.

The advanced settings allow for more detailed planning. You can model salary growth over time, automatically increase your contributions each year, and factor in other income sources like Social Security or a pension to see how they affect your overall plan.

Current Age, Retirement Age, and Annual Income

These inputs establish your personal financial timeline. The time between your current age and retirement age is your accumulation window—the period where your contributions and investment returns compound. A longer window gives your money more time to grow. Your annual income is used to calculate your savings rate and compare your current savings to age-based benchmarks.

Current Retirement Savings

This is the starting point for your projection. Enter the combined total of all your retirement accounts, such as your 401(k), 403(b), Traditional or Roth IRA, and any taxable brokerage accounts you intend to use for retirement. A higher starting balance has a significant impact due to the power of compounding over many years.

Monthly Contribution and Employer Match

Your monthly contribution is the amount you personally save for retirement each month. The employer match is the amount your company contributes, often as a percentage of your salary up to a certain limit. For example, if you earn $80,000 and your employer matches 50% of contributions up to 6% of your salary, contributing 6% ($4,800/year or $400/month) would earn you a match of $2,400/year, or $200/month. Not sure how much to contribute? Use the 401(k) contribution calculator.

Expected Annual Return and Inflation

Your expected annual return is the average rate of growth you anticipate for your investments. This should be a long-term average. Historically, a diversified portfolio of stocks has returned around 7-10% annually, but past performance is not a guarantee of future results. The inflation rate is used to estimate how the purchasing power of your money may change over time, which affects how long your savings will last in retirement. Learn more about how inflation affects retirement savings.

Your Retirement Goal

The calculator offers two ways to set a goal. You can let it calculate one for you based on a desired annual income in retirement. This method uses a standard withdrawal rate to determine the nest egg size needed to support that income. This is a great way to connect your savings plan to a tangible lifestyle goal. Alternatively, if you already have a target number in mind (e.g., "$1.5 million"), you can enter it as a custom goal. This is useful for tracking progress toward a specific milestone.

This calculator uses a year-by-year projection to model your savings growth from your current age to your planned retirement age. It does not use a single, simplified formula.

For each year in the projection, the calculator starts with your balance from the previous year. It then adds your total annual contributions, which includes your personal contributions and any employer match. If you've enabled the advanced setting to increase contributions over time, it will adjust your contribution amount based on the growth rate you set.

Next, it calculates the investment growth for that year by applying your expected annual return to the starting balance. This growth is added to your balance. The new, higher balance then becomes the starting point for the next year, demonstrating the effect of compound interest.

This process repeats for every year until you reach your specified retirement age. The final balance at that age is your projected retirement savings. The calculator then compares this projected amount to your retirement goal to determine if you are on track and calculates your savings gap or surplus. It also runs a separate calculation to estimate how many years that nest egg might last in retirement based on your desired income, other income sources, and inflation.

The calculator performs a year-by-year loop. Here are the core formulas used in each step of the projection.

Annual Projections (Before Retirement)

For each year from your current age to retirement age, the following calculations are performed:

current salary = annual income x (1 + salary growth rate) ^ years from start

annual contribution = (monthly contribution x 12) x (1 + contribution growth rate) ^ years from start

annual employer match = (monthly employer match x 12) x (1 + contribution growth rate) ^ years from start

investment growth = starting balance x (expected annual return / 100)

ending balance = starting balance + annual contribution + annual employer match + investment growth

Retirement Goal Calculation

If you choose the "Calculate for Me" option, the goal is determined as follows:

other annual income = (monthly Social Security + monthly pension) x 12

annual income needed from savings = desired annual income - other annual income

retirement goal = annual income needed from savings / (withdrawal rate / 100)

Monthly Savings Needed to Close a Gap

If your projected savings are less than your goal, the calculator estimates the new monthly contribution needed to catch up. It uses the future value of an annuity formula.

future value of current savings = current savings x (1 + monthly return rate) ^ months to retirement

remaining goal = retirement goal - future value of current savings

monthly contribution needed = remaining goal / ( ( (1 + monthly return rate) ^ months to retirement - 1 ) / monthly return rate )

A common guideline is to save at least 15% of your pre-tax income for retirement, including any employer match. For someone earning $80,000 per year, this would be $12,000, or $1,000 per month. If your employer contributes $200/month, you would need to contribute $800/month to reach the 15% target.

However, the right savings rate for you depends on several factors:

• Your Age: The later you start, the higher your savings rate needs to be to catch up. Someone starting at 25 may only need to save 10-15%, while someone starting at 45 might need to save 20-25% or more. If you feel you're behind, read our guide on whether it's too late to save for retirement.
• Your Goals: If you plan to retire early or want a higher income in retirement, you'll need a higher savings rate, potentially 25% or more.
• Your Income: Higher earners may need to save a larger percentage of their income to replace their lifestyle, especially since Social Security replaces a smaller portion of high incomes.

For 2026, the maximum you can contribute to a 401(k) or 403(b) is $23,500. If you are age 50 or over, you can contribute an additional $7,500 as a catch-up contribution. The IRA contribution limit for 2026 is $7,000, with a $1,000 catch-up for those 50 and older. Maxing out these accounts is an excellent goal if your budget allows.

Financial experts often recommend having a certain multiple of your annual salary saved by different ages. These benchmarks can provide a quick check on your progress.

• By age 30: Have 1x your annual salary saved.
• By age 40: Have 3x your annual salary saved.
• By age 50: Have 6x your annual salary saved.
• By age 60: Have 8x your annual salary saved.
• By Retirement (Age 67): Have 10x your annual salary saved.

If your salary is $75,000, the goal would be to have $75,000 saved by age 30, $225,000 by age 40, and so on. Don't panic if you're not there yet. These are just guidelines. The most important thing is to have a plan and save consistently. For a more detailed look, see our article on retirement savings by age. This calculator's projection chart includes a line showing these benchmarks relative to your salary over time.

Retirement Savings Score: This gives you an at-a-glance idea of how your plan is shaping up. A higher score means your projected savings are closer to or exceed your goal.

Projected at Retirement: This is the key number—the calculator's estimate of your total savings balance on your retirement date.

Savings Gap / Surplus: This shows how far your projected savings are from your goal. A surplus is great news, while a gap indicates the amount you need to make up through higher savings or other adjustments.

Savings Rate: This is your total annual savings (your contributions plus employer match) as a percentage of your annual income. It's a key metric for evaluating your savings effort.

Money Lasts: This estimates how many years your nest egg could support your desired retirement income, factoring in Social Security and pension income.

Savings Growth Projection Chart: This visualizes your savings journey, plotting your balance year by year. It also shows your retirement goal and age-based savings benchmarks, so you can see how you track against multiple targets.

Contributions vs. Growth Chart: This bar chart breaks down the source of your wealth. It shows how much of your final balance comes from your contributions, your employer's match, and the growth from your investments. For most long-term savers, investment growth will eventually become the largest component.

If the calculator shows a savings gap, don't be discouraged. You have several levers to pull:

1. Increase Your Monthly Contribution: Even an extra $50 or $100 per month can grow into a significant sum over decades. Use the advanced setting to automatically increase your contributions each year, which can make saving more feel painless.
2. Capture the Full Employer Match: If you aren't contributing enough to get your full employer match, you are leaving free money on the table. This should be your first priority.
3. Review Your Retirement Age: Working even one or two extra years can have a massive impact. It gives your money more time to compound and reduces the number of years you'll be withdrawing from your portfolio. Use the retirement age calculator to model different scenarios.
4. Re-evaluate Your Goal: Is your desired retirement income realistic? A more modest spending plan can make your goal much more attainable. Use the retirement budget calculator to get a clearer picture of your needs.
5. Check Your Investment Return: Ensure your expected return is realistic for your asset allocation. A more aggressive (and potentially higher-returning) portfolio might be appropriate if you have a long time until retirement, but it also comes with more risk.

1. Setting and Forgetting: A retirement savings plan isn't static. Revisit this calculator annually or after major life events (like a raise or job change) to ensure you're still on track.
2. Ignoring "Free Money": Not contributing enough to get the full employer 401(k) match is one of the biggest financial mistakes you can make. It's an immediate 50% or 100% return on your investment.
3. Being Too Conservative Too Early: Young investors with decades until retirement may be able to afford more risk in their portfolio in exchange for potentially higher returns. Overly conservative investments may not outpace inflation sufficiently.
4. Forgetting About Future Raises: Your income will likely grow over your career. Planning to increase your savings rate with every raise is a powerful way to accelerate your progress without feeling the pinch in your take-home pay.