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Retirement Calculator

Plan your retirement by projecting savings growth based on your contributions and timeline.

Inputs

30
1870
65
3180
$
$
7.0%
015
$

Results

Projected Savings at Retirement
$1,475,834.89
At age 65
Total Contributions
$260,000
Interest Earned
$1,215,834.89
Sustainable Monthly Withdrawal (30 yrs)
$9,818.77

Disclaimer: This calculator provides estimates for informational purposes only. Results are not financial advice. Consult a qualified financial advisor for decisions about your specific situation. Actual rates, terms, and conditions may vary by lender and individual circumstances.

How Does the Retirement Calculator Work?

The retirement calculator models two distinct phases of your financial life. During the accumulation phase (now until retirement), it projects how your savings will grow through your monthly contributions, employer matches, and investment returns. During the distribution phase (retirement onward), it models withdrawals for living expenses while the remaining balance continues to earn returns. The calculator accounts for inflation throughout both phases, ensuring your projected retirement income maintains its purchasing power. It helps answer the critical question: will your savings last through retirement, or do you need to save more, work longer, or adjust your expected lifestyle?

How to Use This Calculator

Enter your current age, planned retirement age, current retirement savings, monthly contribution, expected annual return before and during retirement, and your desired monthly retirement income. The calculator shows your projected savings at retirement, how long your money will last, and whether you are on track. If the results show a shortfall, experiment with different variables: increasing contributions, delaying retirement by a few years, accepting a lower retirement income, or increasing your pre-retirement return through more aggressive investing.

Example Calculation

Mike is 35 with $50,000 saved for retirement. He contributes $600/month to his 401(k) with a 50% employer match up to 6% of his $80,000 salary. He expects 8% returns before retirement and 5% during retirement, with 3% inflation. He wants $5,000/month in today's dollars in retirement at age 65.

  1. 1Current savings = $50,000, monthly contribution = $600 + $200 employer match = $800
  2. 2Pre-retirement growth (30 years at 8%): ~$1,193,000
  3. 3Desired monthly income at 65 in future dollars: $5,000 x (1.03)^30 = $12,136
  4. 4Annual withdrawal = $12,136 x 12 = $145,632
  5. 5Using 4% rule: $145,632 / 0.04 = $3,640,800 needed
  6. 6Gap: $3,640,800 - $1,193,000 = $2,447,800 shortfall
Result: Mike's projected $1,193,000 falls significantly short of the $3,640,800 needed for his desired lifestyle. He could close the gap by increasing contributions to $1,500/month, delaying retirement to 68, reducing expected retirement spending, or a combination of these.

Understanding Your Results

The projected savings at retirement figure shows your estimated nest egg. Compare this to your income needs using the 4% rule (multiply desired annual spending by 25). If your projected savings exceed this number, you are on track. If not, the calculator shows the gap and you can adjust inputs to find a plan that works. Remember that Social Security will provide some income, but typically only replaces about 40% of pre-retirement income for average earners. Healthcare costs in retirement can be $300,000+ per couple and are not fully covered by Medicare.

Tips & Best Practices

  • ✓The 4% rule suggests you can safely withdraw 4% of your portfolio annually in retirement without running out of money over 30 years.
  • ✓Start saving for retirement in your 20s and let compound interest do the heavy lifting over 40+ years.
  • ✓Consider that healthcare costs in retirement can be $300,000+ per couple — factor this into your planning.
  • ✓Social Security replaces only about 40% of pre-retirement income for average earners.
  • ✓Take full advantage of employer 401(k) matching — it is an immediate 50-100% return on your money.
  • ✓After maximizing employer match, consider a Roth IRA for tax-free growth and withdrawals in retirement.

Frequently Asked Questions

How much do I need to retire?▾
A common rule of thumb is 25 times your desired annual spending (the inverse of the 4% rule). If you need $50,000/year in retirement, aim for $1.25 million. If you need $80,000/year, aim for $2 million. However, your actual need depends on your lifestyle, healthcare costs, Social Security benefits, pension income, planned retirement age, and the impact of inflation over your retirement years.
What is the 4% rule?▾
The 4% rule states that retirees can withdraw 4% of their portfolio in the first year of retirement, then adjust that amount for inflation each year, with a high probability of not running out of money over 30 years. Based on historical market data, a portfolio of 50-75% stocks and 25-50% bonds has survived 30 years of withdrawals at this rate in the vast majority of historical periods.
When should I start saving for retirement?▾
As early as possible. Starting at 25 versus 35 can mean having roughly twice as much at retirement with the same monthly contribution, thanks to compound interest. A 25-year-old saving $300/month at 8% will have about $1,006,000 at 65. A 35-year-old saving the same amount will have about $440,000. Those extra 10 years of compounding add over $500,000.
How does inflation affect my retirement plan?▾
Inflation is one of retirement's biggest risks. At 3% inflation, prices roughly double every 24 years. If you retire at 65 and live to 90, prices will have doubled. Your $4,000/month budget will need to become $8,000/month to maintain the same lifestyle. This is why retirement portfolios should include growth investments (stocks) even during retirement.
Should I include Social Security in my retirement plan?▾
Yes, but conservatively. Check your estimated benefit at ssa.gov. For planning purposes, many advisors suggest using 75-80% of your projected benefit to account for potential future benefit reductions. The average Social Security benefit is roughly $1,900/month in 2024. Do not rely on it as your sole income source — treat it as a supplement to your personal savings.
By CalcMaven Editorial TeamLast Updated: February 2026

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Free Retirement Calculator — Plan Your Future | CalcMaven