Retirement Savings Calculator

A retirement savings calculator helps you estimate how much money you'll have when you retire based on your current age, retirement age, existing savings, monthly contributions, and expected investment returns. It projects the growth of your retirement fund using compound interest.

Planning for retirement is one of the most important financial decisions you'll make. This calculator gives you a clear picture of whether your current savings rate and investment strategy will meet your retirement goals. By adjusting the inputs, you can explore different scenarios and find the right balance between saving today and enjoying life now.

The calculator shows the total amount at retirement, how much of that comes from your own contributions, and how much is earned through investment returns. This breakdown highlights the critical role of compound growth and the advantage of starting to save early.

1. Enter your current age — How old you are now.
2. Enter your target retirement age — The age at which you plan to retire.
3. Enter current savings — How much you've already saved for retirement.
4. Enter monthly contribution — How much you plan to save each month going forward.
5. Set expected annual return — The average yearly return on your investments.
6. Review projections — See years until retirement, total savings, contributions, and interest.

The retirement savings projection uses the future value formula with compound interest:

FV = PV × (1+r)^n + PMT × [((1+r)^n - 1) / r]

Where: FV = future value at retirement, PV = current savings, PMT = monthly contribution, r = monthly interest rate (annual rate / 12), n = months until retirement.

Example: Age 30, retire at 65, $50,000 saved, $1,000/month, 7% return → approximately $1,678,293 at retirement.