Finance calculator
Retirement Savings Calculator
Use this retirement savings calculator to project how a current balance and ongoing monthly contributions might grow by a chosen retirement age. The result is a long-range planning estimate, not a guaranteed outcome, because investment returns, taxes, fees, inflation, and contribution changes can materially affect the real balance.
How to use this calculator
- Enter your current age, target retirement age, and current retirement savings.
- Add a monthly contribution and a conservative annual return assumption.
- Compare the projected balance with total contributions to see how much of the estimate comes from saving versus modeled growth.
Formula
- Months = (retirement age - current age) x 12
- Monthly rate = annual return rate / 12
- Projected balance = current savings x (1 + monthly rate)^months + monthly contribution x (((1 + monthly rate)^months - 1) / monthly rate)
- Estimated growth = projected balance - total contributions
Example calculation
A 30-year-old retiring at 65 with $25,000 saved, $500 monthly contributions, and a 6% annual return assumption could reach about $915,000. Of that, roughly $235,000 is contributions and the rest is modeled growth.
How to interpret the results
- Use the projected balance as a directional estimate and test lower return assumptions, since long time periods make small rate changes produce large differences.
- Compare the projected balance with total contributions to see how much depends on modeled growth rather than money saved.
- This estimate is in future dollars and does not adjust for inflation, taxes, or fees, so real buying power at retirement may be lower.
Frequently asked questions
Is this projection adjusted for inflation?
No. The projected balance is in future dollars. To understand real buying power, compare it with an inflation estimate over the same period.
What return rate is reasonable?
There is no guaranteed rate. Many people model conservative long-term assumptions and test several scenarios rather than relying on one optimistic number.
Does this include employer matching or taxes?
No. It models a starting balance, monthly contributions, and a return rate only. Employer contributions, taxes, and account fees should be considered separately.
Planning disclaimer
MoneyHackWise calculators are for general informational and planning purposes only and do not provide financial, investment, tax, legal, accounting, lending, or business advice. Results are estimates based on the inputs and assumptions shown.
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