Retirement savings calculator
Enter your age, planned retirement age and monthly saving to see the balance you could reach and how much of it is compound growth.
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How to use it
- Enter current age, retirement age, current savings, monthly deposit and expected annual return.
- The result appears straight away and updates as you edit.
- Copy the result, or copy a link that keeps the same values to share it.
How it is calculated
Balance = B × (1 + r)^n + M × ((1 + r)^n − 1) ÷ r, where B is the current balance, M the deposit at the end of each month, r the annual return ÷ 12 and n the months until retirement.
Example
Inputs: Current age = 30 years, Retirement age = 60 years, Current savings = 20,000, Monthly deposit = 1,000, Expected annual return = 6 %. Result: Projected balance at retirement: 1,124,966.55; Total paid in (with current savings): 380,000.00; Compound growth: 744,966.55.
Limits and caveats
- The return is held constant here, while real returns vary from year to year.
- Inflation, fees and taxes are not modelled, so use a return net of fees for a closer estimate.
Questions about this tool
Is the deposit made at the start or the end of the month?
The calculator assumes the end of each month. Depositing at the start gives a slightly higher balance because each payment earns one more month of return.
What annual return should I use?
It depends on how you invest. Try several values, such as 4%, 6% and 8%, to see a range instead of one number.
How do I see the balance in present-day money?
Enter a real return, the expected return minus expected inflation, and the result is close to present-day purchasing power.