Retirement Savings Calculator
Enter your current age, savings, and monthly contribution to see your projected retirement savings — with the power of compound interest working for you.
Start Tracking Your Retirement Savings
Retirement planning starts with tracking. Use our free budget template to monitor your savings rate, investment contributions, and progress toward your goal.
Get the Free Budget Template →How This Retirement Calculator Works
This calculator uses the future value of a series formula to project your retirement savings. It takes your current savings, adds monthly contributions, and applies compound interest at your expected return rate.
The monthly retirement income estimate uses the 4% rule — a widely-used guideline that suggests withdrawing 4% of your portfolio per year for a 25-30 year retirement.
How Much Do You Need to Retire?
- Rule of 25 — multiply your desired annual retirement income by 25. Want $60,000/year? You need $1,500,000.
- By age 30 — aim to have 1x your annual salary saved.
- By age 40 — 3x your salary.
- By age 50 — 6x your salary.
- By age 60 — 8x your salary.
- By age 67 — 10x your salary.
Tips for Maximizing Retirement Savings
- Start as early as possible — someone who starts at 25 needs to save half as much monthly as someone starting at 35.
- Capture the full employer match — it is literally free money (typically 3-6% of salary).
- Increase contributions with raises — bump your 401k contribution every time you get a raise.
- Use tax-advantaged accounts — 401k, IRA, Roth IRA all reduce your tax burden.
Related Resources
Frequently Asked Questions
What return rate should I use?
The S&P 500 has historically returned about 10% annually (7% after inflation). Using 7% is a common conservative estimate. If you have a bond-heavy portfolio, use 4-5%. For aggressive stock portfolios, 8-10% is reasonable.
What is the 4% rule?
The 4% rule states that you can withdraw 4% of your retirement portfolio in the first year, then adjust for inflation each subsequent year, and your money should last 25-30 years. It is based on historical stock/bond returns.
Is it too late to start saving at 40?
No, but you need to be more aggressive. At 40, you have 25 years until 65. Maximize your 401k ($23,500/year in 2026), open a Roth IRA ($7,000/year), and aim to save 20-25% of your income. Catch-up contributions are available at 50.