Retirement Calculator

Project how much you could have at retirement and test how much an extra monthly contribution would add.

How the Retirement Calculator works

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Example calculation

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Tips for using the Retirement Calculator

• Model with a real (inflation-adjusted) return when you want future spending power, not a nominal one. Subtract your inflation assumption from your expected return - for example, 7% nominal minus 2.2% inflation is about 4.7% real - so a seven-figure nominal balance does not fool you into thinking you are richer than you are.
• Combine every account into one P. This tool's whole advantage over a 401(k)-only calculator is the all-accounts total, so people underproject when they enter only their workplace plan and forget their IRA, old rollover accounts, HSA, and taxable brokerage. The projection is only as complete as P.
• Anchor your target with the 25x rule: multiply your expected annual retirement spending (not income) by 25. If you will need $50,000/year from your portfolio, aim for roughly $1,250,000. This is the savings-side mirror of a 4% withdrawal rate and is more personal than any age-based multiple.
• Use the 15%-of-gross-income guideline as your contribution floor, including any employer match. If 15% of your salary does not get you to your 25x target in this tool, the fix is a higher rate, a later retirement age, or both - the tool shows which lever closes the gap fastest.
• At age 50+, raise PMT to capture catch-up contributions. The IRS allows extra elective deferrals to 401(k)-type and IRA accounts once you turn 50, so a late starter can legally save more per month; check the current year's limits, then re-run the tool with the higher PMT to see the swing.
• Do not enter Social Security as part of P or PMT - it is an income stream, not a balance. Instead, estimate your annual benefit from your official Social Security statement, subtract it from your target annual spending, and only size the nest egg to cover the remaining gap. This often shrinks the portfolio you must build.
• Set your income-replacement assumption deliberately. Many planners target 70-85% of pre-retirement income; if your mortgage will be paid off and the kids are gone, you may need less, and lowering the target shrinks the nest egg you must build. Cross-check that ratio against your 25x number.
• Stress-test the return by re-running at 5%, 6%, and 7%. If your plan only works at 8%+, it is fragile - a single bad decade near retirement (sequence-of-returns risk) could break it, and that is exactly the risk the drawdown-phase tool is built to manage.
• Bump the contribution by 1% of salary each year (a step-up). Set a calendar reminder to increase PMT with every raise; small annual increases compound dramatically over a 30-year horizon without feeling painful in any single year.
• Recheck the plan after any life change - marriage, a new job, a paid-off house, or a market crash. The nest egg projection is only as current as its inputs, so treat it as a living number you revisit at least once a year, not a one-time printout.

Retirement calculator vs. 401(k), Roth IRA, and FIRE tools: which to use

Use this master retirement calculator when you want one all-accounts answer to 'am I on track?'; use the specialized tools when you need rules specific to one account type. This tool sums every account into a single projection and compares it to a 25x or income-replacement target; the others zoom into one slice with its own rules.

Tool	Best for	What it adds that this tool ignores
This retirement calculator	Total nest egg across all accounts vs. a target	Nothing account-specific - it is the combined finish line
401(k) calculator	Employer match and pre-tax deferrals	The workplace plan only, with IRS annual deferral limits
Roth IRA calculator	Tax-free growth and annual contribution caps	Income limits and the contribution cap that restrict inputs
FIRE calculator	Early retirement built from annual expenses	An expense-driven savings rate and a much earlier stop age
Retirement withdrawal calculator	The drawdown phase - making money last	Sequence-of-returns and withdrawal-rate logic after you stop saving

Think of it this way: this page answers how big the pile needs to be across every account and whether you will get there; the 401(k) and Roth tools refine how each account is funded under its own caps; FIRE answers whether you can stop decades early; and the withdrawal tool answers how fast you can safely spend the pile once you stop working. Start here for the headline number, then drill into a sibling when one account's rules become the binding constraint.

Nominal vs. real (inflation-adjusted) projections

A nominal projection shows future dollars; a real projection shows what those dollars will actually buy - and the gap is enormous over a 30-year horizon. Always know which one you are reading before you decide you are on track.

In Example 1 above, the $1,310,756 nominal figure is real money in 2061, but at 2.2% annual inflation its spending power is only about $611,985 in today's dollars - less than half. Pricing your goal in future dollars while measuring your spending in today's dollars is the single most common way people overestimate readiness, and it is exactly the error the 25x-expenses target prevents, because expenses are quoted in today's money.

Two clean ways to handle it: (1) enter a real return (your expected return minus inflation, e.g. 7% - 2.2% ~ 4.7%) so the output is already in today's purchasing power, or (2) project nominally, then divide by (1 + inflation)^t to deflate. To see how prices climb over time, run the inflation calculator, and to understand how compounding amplifies both growth and erosion, see the compound interest calculator. Whichever method you pick, keep your target on the same basis - a real return paired with today's-dollar expenses, or a nominal return paired with future-dollar expenses.

Common mistakes that wreck a retirement projection

Most bad retirement plans fail because of input errors, not market crashes. Watch for these, because each one quietly moves your finish line.

• Using an unrealistic return. Plugging in 10%+ because 'that's the stock market average' ignores fees, inflation, and a bond allocation. A diversified 6-7% nominal assumption is safer for a multi-account plan.
• Ignoring inflation entirely. A $1,000,000 nominal goal can feel like wealth and turn out to be modest in 30 years - at 3% inflation it is worth about $411,987 in today's dollars. Always sanity-check in real terms.
• Targeting income instead of expenses. You replace what you spend, not what you earn. Build the goal from expected retirement spending, then express it as 25x.
• Forgetting accounts. Leaving an old 401(k) or a brokerage account out of P understates your starting point - the very error this all-accounts tool exists to fix.
• Double-counting Social Security. Do not add it to your balance or contributions; subtract its income from your spending target instead, so the nest egg only covers the gap.
• Set-and-forget. A projection from five years ago, never updated for raises or a paid-off mortgage, is fiction. Re-run it yearly.

How to do it by hand or in Excel / Google Sheets

You can reproduce this tool with one spreadsheet function. The future-value formula is built into Excel and Google Sheets as FV.

For monthly compounding, use: =FV(rate/12, years*12, -PMT, -P)

For Example 1 (7%, 35 years, $600/month, $20,000 start): =FV(0.07/12, 420, -600, -20000) returns about $1,310,756, matching the engine. Enter PMT and P as negatives (cash leaving your pocket) so the result is positive.

To solve the reverse problem - how much you must save each month to hit a goal - use PMT: =PMT(rate/12, years*12, -P, FV_goal). For example, reaching $1,000,000 in 30 years at 7% from a zero balance needs about $820 a month. To find the lump sum needed today to reach a goal with no further contributions, use PV: =PV(rate/12, years*12, 0, -FV_goal). By hand, raise (1 + r/n) to the nt power, multiply by P, then add PMT times the annuity factor ((1 + r/n)^nt - 1) / (r/n). For the contribution side alone, the savings goal calculator backs into the monthly number for you.

Benchmarks: is my balance good for my age?

A widely cited rule of thumb is to have roughly 1x your salary saved by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67. These are population guideposts, not guarantees - your real target depends on your spending, not your age.

Age	Suggested savings (multiple of salary)
30	~1x
40	~3x
50	~6x
60	~8x
67	~10x

The deeper benchmark is the 25x rule: aim for 25 times your expected annual portfolio withdrawals. If you will pull $50,000/year from savings (after Social Security covers part of your spending), target about $1,250,000. Pair that with the 15%-of-income savings rate as your contribution benchmark - on an $80,000 salary that is $12,000 a year, or about $1,000 a month including any match. If the salary multiples and the 25x figure disagree, trust the 25x number built from your own expenses: it is personalized, while the multiples are averages. To gauge total financial health beyond retirement accounts, the net worth calculator gives the full picture.

Catch-up contributions and the role of Social Security

If you are behind, two levers can rescue a plan: catch-up contributions after 50 and a realistic accounting of Social Security. Both are specific to the saving-up phase this tool models.

Once you reach age 50, the IRS lets you contribute extra elective deferrals to workplace plans and additional dollars to IRAs beyond the standard limits. Because the limits change yearly, check the current figures, then raise PMT in this tool to match. In Example 3, the late starter's $1,500/month is realistic precisely because catch-up rules permit it - and with only 15 years to grow, that extra contribution does more work than chasing a higher return: $270,000 contributed turned into $984,157, but a 1-point higher return would have moved the needle far less than another few hundred dollars a month.

Social Security is a separate income stream, not a balance, so it never belongs in P or PMT. The right method: estimate your annual benefit from your official Social Security statement, subtract it from your target annual spending, and only size the nest egg to cover the remaining gap. This often shrinks the portfolio you must build, because a guaranteed inflation-linked income covers part of your needs. To plan the spend-down once you retire, move over to the retirement withdrawal calculator.

Advanced uses: stress-testing, step-ups, and partial retirement

Beyond a single projection, use this tool to pressure-test the plan and model behavior changes.

• Return stress test. Run the same inputs at 5%, 6%, and 7%. If the plan only succeeds above 7-8%, it is fragile and you should raise contributions or extend the timeline rather than bet on a bull market.
• Annual step-up. Re-enter a higher PMT each year to mirror raises. Even a 1%-of-salary annual increase changes the outcome materially over decades - see the principle behind it in the investment calculator.
• Phased / partial retirement. If you plan to work part-time from 62 to 67, model it as a lower PMT for those years and a later full-stop age, so the nest egg keeps compounding while withdrawals stay small.
• Different start balances. Compare a rollover-and-consolidate scenario (higher P from gathering scattered old accounts) against leaving accounts scattered, to quantify the value of simplifying your portfolio inside one projection.

Each run isolates one variable so you can see which lever - time, rate, or contribution - moves your outcome the most. For most savers under 50 it is time; for those over 50 it is the contribution rate.

Quick reference: what $500 a month grows to by timeline and return

Saving $500 a month with no starting balance grows to between about $205,517 and $2,340,660 depending on how long you save and what return you earn - the timeline matters even more than the rate. The table below recomputes the projected nest egg for $500 monthly contributions across three horizons and three annual returns (nominal dollars, monthly compounding). Use a lower rate such as 5% to approximate today's purchasing power, and remember total out-of-pocket contributions are just $120,000 over 20 years, $180,000 over 30 years, and $240,000 over 40 years - everything above that is compound growth.

Years saving	At 5%	At 7%	At 9%
20 years	$205,517	$260,463	$333,943
30 years	$416,129	$609,985	$915,372
40 years	$763,010	$1,312,407	$2,340,660

Notice the doubling of the horizon from 20 to 40 years at 7% turns $260,463 into $1,312,407 - more than five times the result for only twice the contributions. That gap is the entire case for starting early and is why this all-accounts tool puts years-to-retirement front and center.

Related on this site

401(k) calculator · Roth IRA calculator · FIRE calculator · Retirement withdrawal calculator · Compound interest calculator · Net worth calculator

For a related deep dive, see SEC Investor.gov compound interest calculator.

Retirement Calculator — frequently asked questions

Inflation adjusted?

No — figures are nominal. Use a real return (4–5%) for today's purchasing power.

How much to save?

A common guideline is ~15% of gross income, adjusted for your target age and other income.

Does this account for inflation?

No — figures are nominal; use a lower real return for purchasing power.

How much do I need to retire?

A common rule is 25× annual expenses, but it depends on lifestyle and other income.

How much does saving $500 a month grow to in 30 years at 7%?

Saving $500 a month at 7% for 30 years grows to roughly $609,986, even though you only contribute $180,000 out of pocket. The other ~$429,986 is compound growth. This is the engine behind the retirement calculator: time and rate matter more than the amount once the runway is long. Drop the return to a 4-5% real rate to see today's purchasing power instead. <a href="/retirement-calculator/">Run it here</a>.

How much do I need to retire on $40,000 a year of expenses?

You need about $1,000,000 to support $40,000 a year, using the common 25x-expenses rule (or its mirror, the 4% withdrawal rate: 4% of $1,000,000 is $40,000). The 25x target counts only spending your portfolio must cover, so subtract Social Security and any pension first. If those cover part of the $40,000, your required nest egg drops proportionally. See the <a href="/retirement-withdrawal-calculator/">withdrawal calculator</a> for drawdown.

Is the retirement calculator's number in today's dollars or future dollars?

By default it shows nominal (future) dollars, so a projected $1,000,000 will buy less than $1,000,000 buys today. To think in today's purchasing power, enter a real return - roughly your expected return minus inflation, often 4-5% instead of 7%. As a check, $1,000,000 thirty years out at 3% inflation is worth about $411,987 today. Real returns give a far more honest target.

How much does a $100,000 balance grow to in 20 years with no new contributions?

A $100,000 lump sum left alone grows to about $331,020 in 20 years at 6% with monthly compounding, more than tripling with zero additional saving. At 7% it reaches roughly $403,874. This is why an existing balance is so valuable - it compounds whether or not you add more. Enter your current savings separately from monthly contributions so the calculator grows each correctly.

What does 15% of income actually mean in dollars if I earn $80,000?

Saving 15% of an $80,000 salary means $12,000 a year, or about $1,000 a month, and this includes any employer match. The 15% guideline targets a comfortable income-replacement level by traditional retirement age. If a 401(k) match adds, say, 3% of pay, you only need to contribute the other 12% yourself. Split contributions across a <a href="/401k-calculator/">401(k)</a> and <a href="/roth-ira-calculator/">Roth IRA</a> as caps allow.

How much extra can catch-up contributions add if I start at 50?

Starting catch-up saving of $625 a month (about $7,500 a year) at age 50 adds roughly $198,101 by 65 at 7%. Catch-up contributions are an IRS allowance letting people 50 and older save above the normal annual limit; the exact extra amount changes yearly, so check the current cap. Even a late start has 15 years of compounding, which is why catch-up rules exist. Model it in the <a href="/401k-calculator/">401(k) calculator</a>.

How much do I have to save each month to reach $1,000,000 in 30 years?

You need about $820 a month for 30 years at 7% to reach $1,000,000, starting from zero. That is roughly $295,000 contributed and $705,000 from growth. A higher starting balance lowers the required monthly amount sharply: with $50,000 already invested, you would need far less per month. Shorten the timeline and the required contribution rises steeply, which is the cost of starting late.

What's the difference between starting at 25 versus 40 with $400 a month?

Starting at 25 beats starting at 40 by more than three to one: $400 a month at 7% becomes about $1,049,925 over 40 years (age 25 to 65) but only about $324,029 over 25 years (age 40 to 65). Same monthly amount, same rate - the only difference is 15 extra years of compounding. This is the single strongest argument for starting early, even with a small amount.

How do I project my retirement savings in Excel by hand?

Use Excel's FV function: <strong>=FV(rate/12, years*12, -monthly, -startingBalance)</strong>. For $500 a month at 7% for 30 years with no starting balance, =FV(0.07/12, 360, -500, 0) returns about $609,986, matching this calculator. Make the payment and present value negative so the result is positive. To work in today's dollars, replace 7% with a real rate like 4%, giving about $347,025.

Is $250 a month enough to retire on if I'm 25?

It can be a strong start: $250 a month at 8% from age 25 to 65 grows to about $872,752 over 40 years, from just $120,000 contributed. Whether that is enough depends on your expenses - at 25x, $872,752 supports roughly $34,900 a year. If your target spending is higher, raise the contribution with every pay raise. Time is doing most of the work here, not the dollar amount.

How much difference does a 6% versus 9% return make over 35 years?

Over 35 years, a 3-point higher return more than doubles the result: $200 a month grows to about $284,942 at 6% but about $588,357 at 9%. Same $84,000 contributed - the gap is pure compounding. This shows why the return assumption matters so much, and why you should test a conservative rate. Do not assume 9%; long-run stock returns vary, so 6-7% is a safer planning figure.

What income replacement ratio should I use, and what does it mean in dollars?

A common target is 70-80% of pre-retirement income, because some costs (commuting, payroll taxes, saving itself) fall in retirement. For a $70,000 salary, 80% is $56,000 a year. Social Security typically covers a portion of that for many workers, so your portfolio only has to fund the gap. Estimate your own benefit from an official source rather than a guessed figure, then size the nest egg to the remainder.

How much do I end with starting from $50,000 plus $700 a month?

Starting with $50,000 and adding $700 a month at 7% from age 35 to 67 (32 years) projects to about $1,466,508. The $50,000 head start alone grows to roughly $466,600 of that, showing how an existing balance quietly compounds beside your new contributions. Enter current savings and monthly contributions in separate fields so each grows for the correct number of years.

Should I use a nominal or real return when planning my retirement number?

Use a real (inflation-adjusted) return when you want your target in today's dollars, and a nominal return only if your spending goal is also stated in future dollars. Mixing them overstates your readiness. For example, $600 a month for 30 years is about $731,983 at a 7% nominal rate but about $416,430 at a 4% real rate - same plan, very different meaning. Pick one basis and keep expenses on that same basis.

Is a late start at 45 hopeless if I save $500 a month?

No, but the cost of waiting is steep: $500 a month at 7% grows to about $260,463 over 20 years (age 45 to 65) versus about $609,986 over 30 years (starting at 35). To close the gap, use catch-up contributions at 50+, increase savings with raises, and consider working a couple of extra years - each added year compounds the whole balance. Pairing a higher rate of saving with a longer runway recovers a lot of ground.

Does the retirement calculator include Social Security?

No - this tool projects only the savings you invest, not Social Security, pensions, or annuities. Treat those as separate income that reduces how large your portfolio needs to be. If you expect Social Security to cover part of your spending, subtract it from annual expenses before applying the 25x rule, which lowers your required nest egg. Get your estimated benefit from an official statement rather than a guessed number, since amounts vary widely by earnings history.

Guides & articles

• How Much Money Do I Need to Retire?
• Is Saving 15% of Your Income Enough to Retire?

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