Finance
Retirement Calculator
Project your retirement savings, compare them against a target nest egg, and estimate how much monthly retirement income your plan may support.
Retirement Calculator
Estimate how much you may have by retirement based on your current age, retirement age, current savings, monthly contributions, expected annual return, and target retirement income.
Direct answer
$1,547,182.53
Estimated savings by retirement age based on your current plan.
Projected retirement savings
$1,547,182.53
At age 65
Target nest egg
$1,500,000.00
Using 4.00% withdrawal rate
Estimated monthly retirement income
$5,157.28
Based on projected savings
Income gap or surplus
$157.28
Above target monthly income
Planning summary
Time horizon: 35 years
Return assumption: 7.00%
Monthly contribution: $600.00
Retirement savings breakdown
Recommended Retirement Planning Resource
Planning for retirement? Stay organized with the right tools
A retirement planning workbook, savings tracker, or finance planner can help you compare scenarios, set goals, and monitor progress over time.
This section may contain affiliate links.
Year-by-year retirement schedule
Review a year-by-year retirement savings projection showing how contributions and investment growth may increase your retirement balance over time.
| Age | Starting balance | Contributions | Growth | Ending balance |
|---|---|---|---|---|
| 31 | $40,000.00 | $7,200.00 | $3,170.53 | $50,370.53 |
| 32 | $50,370.53 | $7,200.00 | $3,920.21 | $61,490.74 |
| 33 | $61,490.74 | $7,200.00 | $4,724.10 | $73,414.84 |
| 34 | $73,414.84 | $7,200.00 | $5,586.09 | $86,200.93 |
| 35 | $86,200.93 | $7,200.00 | $6,510.40 | $99,911.33 |
| 36 | $99,911.33 | $7,200.00 | $7,501.52 | $114,612.85 |
| 37 | $114,612.85 | $7,200.00 | $8,564.30 | $130,377.15 |
| 38 | $130,377.15 | $7,200.00 | $9,703.90 | $147,281.05 |
| 39 | $147,281.05 | $7,200.00 | $10,925.88 | $165,406.93 |
| 40 | $165,406.93 | $7,200.00 | $12,236.21 | $184,843.14 |
| 41 | $184,843.14 | $7,200.00 | $13,641.25 | $205,684.39 |
| 42 | $205,684.39 | $7,200.00 | $15,147.87 | $228,032.25 |
| 43 | $228,032.25 | $7,200.00 | $16,763.40 | $251,995.65 |
| 44 | $251,995.65 | $7,200.00 | $18,495.71 | $277,691.36 |
| 45 | $277,691.36 | $7,200.00 | $20,353.26 | $305,244.62 |
| 46 | $305,244.62 | $7,200.00 | $22,345.08 | $334,789.70 |
| 47 | $334,789.70 | $7,200.00 | $24,480.90 | $366,470.60 |
| 48 | $366,470.60 | $7,200.00 | $26,771.11 | $400,441.71 |
| 49 | $400,441.71 | $7,200.00 | $29,226.89 | $436,868.60 |
| 50 | $436,868.60 | $7,200.00 | $31,860.19 | $475,928.79 |
| 51 | $475,928.79 | $7,200.00 | $34,683.86 | $517,812.65 |
| 52 | $517,812.65 | $7,200.00 | $37,711.64 | $562,724.29 |
| 53 | $562,724.29 | $7,200.00 | $40,958.31 | $610,882.60 |
| 54 | $610,882.60 | $7,200.00 | $44,439.68 | $662,522.28 |
| 55 | $662,522.28 | $7,200.00 | $48,172.71 | $717,895.00 |
| 56 | $717,895.00 | $7,200.00 | $52,175.61 | $777,270.61 |
| 57 | $777,270.61 | $7,200.00 | $56,467.88 | $840,938.49 |
| 58 | $840,938.49 | $7,200.00 | $61,070.44 | $909,208.92 |
| 59 | $909,208.92 | $7,200.00 | $66,005.71 | $982,414.64 |
| 60 | $982,414.64 | $7,200.00 | $71,297.76 | $1,060,912.39 |
| 61 | $1,060,912.39 | $7,200.00 | $76,972.37 | $1,145,084.76 |
| 62 | $1,145,084.76 | $7,200.00 | $83,057.20 | $1,235,341.96 |
| 63 | $1,235,341.96 | $7,200.00 | $89,581.90 | $1,332,123.85 |
| 64 | $1,332,123.85 | $7,200.00 | $96,578.27 | $1,435,902.12 |
| 65 | $1,435,902.12 | $7,200.00 | $104,080.41 | $1,547,182.53 |
How much do I need to retire?
One of the most common retirement planning questions is how much money you need to retire. A practical starting point is to estimate your desired annual retirement income and divide it by a planned withdrawal rate.
For example, if you think you will need $60,000 per year in retirement and use a 4% withdrawal rate, your estimated target nest egg would be about $1.5 million.
If your projected retirement savings are below your target, you can explore increasing contributions, delaying retirement, or adjusting your retirement income assumptions.
Retirement nest egg target examples
| Scenario | Estimated target nest egg | Note |
|---|---|---|
| $40,000 income goal at 4% | $1,000,000 | Lower annual income target |
| $60,000 income goal at 4% | $1,500,000 | Common planning example |
| $80,000 income goal at 4% | $2,000,000 | Higher retirement spending goal |
| $100,000 income goal at 4% | $2,500,000 | Larger retirement lifestyle target |
How this retirement calculator works
This calculator projects your retirement savings by starting with your current balance, adding monthly contributions, and applying an expected annual return until retirement age.
It also estimates a target nest egg using your desired retirement income and withdrawal rate, which helps compare your projected balance against a retirement income goal.
This is a planning estimate, not a guarantee. Actual investment returns, inflation, taxes, fees, and retirement expenses can differ from the assumptions entered here.
Formula logic
Nest egg target idea
Target nest egg = Annual retirement income ÷ Withdrawal rate
Growth idea
Retirement savings = Contributions + compounded investment growth
The calculator compounds growth monthly and updates the balance each year to produce a full retirement savings schedule.
Retirement planning example
Suppose someone is age 30, wants to retire at age 65, already has $40,000.00 saved, and plans to contribute $600.00 per month.
With an assumed annual return of 7.00%, this calculator projects retirement savings of $1,547,182.53 by retirement age.
If the retirement income goal is $60,000.00 per year and the withdrawal rate is 4.00%, the target nest egg is $1,500,000.00.
What affects retirement savings the most?
The biggest drivers of retirement savings are time, contribution level, and investment growth. Starting earlier usually has a major impact because money has longer to compound.
Monthly contribution size also matters. Increasing contributions can improve projected retirement savings directly and can increase the amount of investment growth earned over time.
Retirement age is another major factor. Delaying retirement can add contribution years while also shortening the number of years your savings may need to support spending.
How to use a retirement calculator more effectively
Start with realistic assumptions for current savings, monthly contributions, retirement age, and expected annual return. Then test several scenarios instead of relying on only one estimate.
Compare a baseline plan against a better-case and worse-case scenario. Try saving more each month, retiring later, or adjusting your retirement income target.
This helps you understand how sensitive your retirement outcome is to each variable and makes the calculator more useful for planning.
How much do I need to retire? Retirement calculator FAQ
What is a withdrawal rate?
A withdrawal rate is the percentage of your retirement savings you plan to withdraw each year to fund living expenses.
Why does retirement age matter so much?
A longer time horizon gives your contributions more time to compound, which can significantly increase projected savings.
Is this calculator adjusted for inflation?
No. This version is a nominal estimate. Inflation can reduce the future purchasing power of retirement savings and income.
What if my projected savings are below target?
You may need to increase contributions, retire later, reduce your income target, or adjust return assumptions to explore other scenarios.
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