Plan Your Retirement
Estimate how much your retirement savings could grow and whether your projected retirement fund may be sufficient for your planned retirement spending.
Enter Your Retirement Information
Enter your current savings, contributions, expected return and retirement goals. You can leave optional fields empty.
Current Situation
Your starting pointGrowth Assumptions
Expected annual ratesRetirement Goal
Planned spendingRetirement Projection
Estimated value at your retirement age
Retirement Insight
Enter your retirement information to see your projected savings and estimated retirement funding goal.
About the Retirement Calculator
This retirement calculator estimates how your retirement savings could grow between your current age and your planned retirement age based on the assumptions you enter.
The calculation considers your current retirement savings, ongoing monthly contributions and an assumed annual investment return. It also estimates a retirement funding target based on your desired annual retirement income and the number of years you expect to spend in retirement.
Because future investment returns, inflation and personal circumstances are uncertain, the result should be viewed as an estimate rather than a prediction.
How to Use the Calculator
Enter Your Age
Enter your current age and the age at which you expect to retire.
Add Savings
Enter your current retirement savings and expected monthly contribution.
Set Your Goal
Enter your expected return, inflation, income need and retirement duration.
How It Works
The calculator projects the future value of your current retirement savings and future contributions using the expected annual investment return entered above.
Contributions are assumed to be made monthly and investment growth is compounded monthly.
The estimated retirement target uses your desired annual retirement income and retirement duration, with inflation incorporated into the future spending requirement.
If someone starts with retirement savings, continues making monthly contributions and earns an assumed investment return over several decades, the combination of contributions and compounding can produce a substantially larger retirement balance than contributions alone.
Important Retirement Planning Factors
Investment Returns
Actual investment returns vary from year to year. The annual return entered into this calculator is an assumption used for projection purposes.
Inflation
Inflation can reduce the purchasing power of money over time. A retirement income that appears sufficient today may require more dollars in the future.
Contributions
Increasing contributions can materially change a long term retirement projection, particularly when there are many years remaining before retirement.
Retirement Duration
The length of retirement affects the amount of savings required. A longer retirement generally means savings may need to support spending for more years.
Why Start Planning Early?
Retirement planning involves balancing savings, contributions, investment growth, spending needs and the length of retirement.
One important mathematical feature of long term investing is compounding. When investment returns remain invested, subsequent returns can apply to both the original contributions and previous investment growth.
Starting earlier can therefore provide more time for contributions and investment growth to accumulate. The actual outcome depends on investment performance, contribution behavior, fees, taxes, inflation and other factors.
This calculator provides an educational estimate and does not constitute financial, investment, tax or retirement planning advice. Actual investment returns, inflation, taxes, fees, contribution amounts and retirement expenses may differ substantially from the assumptions used.