Retirement calculator

Retirement Calculator

How to use: Enter your current age, planned retirement age, current savings, monthly contribution and expected yearly return.

How the retirement calculator works

This retirement calculator grows your current savings and your monthly contributions until the age you plan to retire, compounding monthly. It then shows a rough monthly income using the 4% rule, a common guideline that says you can withdraw about 4% of your balance in the first year of retirement.

Example

At age 30, with $25,000 saved, $600 a month and a 7% return until age 65, the balance reaches about $1.37 million. Under the 4% rule, that supports roughly $4,560 a month before taxes.

What this does not include

Results are in future dollars, so inflation will make that money buy less. Returns also vary from year to year, and Social Security, pensions and taxes are not included. Try lower returns, such as 5%, to see a more cautious picture.

Frequently asked questions

How much should I save each month?

Many people aim for 10% to 15% of income. Starting earlier matters more than most people expect, so try changing the retirement age or starting age to see the difference.

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Estimates for education only, not financial advice.