Retirement Savings Calculator
Project your retirement nest egg with compound growth. Enter current savings, monthly contribution, expected annual return, and years to retirement. See how your money grows with consistent investing.
Retirement savings calculator
Result
What is this?
A retirement calculator projects future savings using compound growth. It accounts for current balance, monthly contributions, and expected annual return. Assumes contributions at end of each month. Returns are not guaranteed—use historical averages (7–8% for stocks) as a guide, not a promise. The formula combines growth on existing savings with the future value of an annuity (regular contributions). Small increases in contribution or return rate can have a large impact over decades. The earlier you start, the more compound growth helps. Use it for motivation and planning, not as a guarantee.
When to use
Use to set savings goals, see impact of increasing contributions, or plan retirement age. Example: $50k now + $500/month at 7% for 30 years ≈ $730k. Start early for compound growth. See how much you need to save monthly for a target. Compare starting at 25 vs 35 vs 45. Model different return assumptions. Understand the power of consistent investing. Essential for retirement planning. Run scenarios to find a realistic path. Even small monthly amounts add up over decades.
How to use
FV = P(1+r)^n + PMT × [((1+r)^n − 1) / r]. P = current savings, PMT = monthly contribution, r = monthly rate, n = months.
Assumes contributions at end of each month. Returns are not guaranteed.
Frequently asked questions
- Future value = Current savings × (1+r)^n + Monthly contribution × [((1+r)^n − 1) / r]. r = monthly rate, n = months. This assumes consistent contributions and compound growth.
- Historical stock market returns average about 7–10% before inflation. Use 5–7% for conservative estimates, or 7–8% for long-term diversified portfolios.
- The earlier the better. Compound interest works in your favor over time. Even small monthly contributions can grow significantly over 20–30 years.