About the Retirement Calculator
This retirement calculator estimates the savings you need by retirement and the monthly contributions required to reach that target. It projects your retirement income, shows investment growth over time, and adjusts results for inflation.
The tool applies the future value of an annuity formula, P x ((1+r)^n - 1) / r, to your monthly contributions and compounds your current savings with the compound interest formula. Expected returns are converted to a real rate using your inflation input, so outcomes reflect purchasing power. You enter your current age, retirement age, current savings, monthly contribution, expected annual return, and expected inflation rate. Use a conservative return estimate to avoid overestimating your nest egg, and consider a financial professional for major decisions.
- Enter your current age, planned retirement age, and current savings balance.
- Add your monthly contribution, expected annual return, and expected inflation rate.
- Review the projected savings and retirement income, then adjust inputs to compare scenarios.