Retirement Savings Calculator

Retirement projections come down to the same compound growth math used throughout finance, just applied over a much longer time horizon and combined with regular contributions along the way. This calculator takes your current savings, adds your monthly contributions, and grows the whole thing at your expected annual return, compounded monthly, until you reach your target retirement age.

The number of months between now and retirement matters enormously here, because compound growth accelerates the longer it runs. Money contributed in your 20s has decades to compound and can end up contributing far more to your final balance than the same dollar amount contributed in your 50s, even though the total amount you put in is identical. This is the mathematical basis for the common advice to start saving for retirement as early as possible, even in small amounts.

The expected annual return is the most uncertain number in this whole calculation, and small changes to it produce surprisingly large differences in the projected balance over multi-decade periods. A conservative assumption (often in the 5-7% range for a diversified stock-and-bond portfolio) will give a more cautious, realistic projection than an optimistic one, and it's generally wiser to plan around a modest assumption than an aggressive one, since coming up short in retirement is a much bigger problem than ending up with extra.

This calculator doesn't account for inflation, taxes on withdrawals, employer matching contributions, or changes to your contribution amount over time, all of which affect what your projected balance actually translates to in future spending power. Treat the result as a rough trajectory to check your progress against, not a guaranteed outcome.