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Online Retirement Calculator
Use our Online Retirement Calculator to estimate your future retirement savings or determine the annual contributions needed to reach your retirement goal with compound interest calculations.
Result
Total Savings at your retired age ($): 553,407
Savings Needed at your retired age ($): 1,516,653
Equivalent Purchase Power Now ($): 624,841
Lifestyle after Retirement ($): 55,198
You will have
You will need
| MONTHLY INCOME AFTER RETIREMENT IF SAVED ($): 553,407 | ||
|---|---|---|
| ACTUAL AMOUNT ($) | TODAY'S MONEY ($) | |
| Total | 4,600 | 1,895 |
| From Savings | 3,100 | 1,277 |
| From Social Security | 1,200 | 494 |
| From Other Income | 300 | 124 |
| MONTHLY INCOME AFTER RETIREMENT IF SAVED NEEDED ($): 1,516,653 | ||
|---|---|---|
| ACTUAL AMOUNT ($) | TODAY'S MONEY ($) | |
| Total | 9,911 | 4,083 |
| From Savings | 8,411 | 3,465 |
| From Social Security | 1,200 | 494 |
| From Other Income | 300 | 124 |
| IF YOU SAVE EVERY MONTH UNTIL RETIRE ( 65 ) | |
|---|---|
| Amount to Save Every Month ($) | 644.11 |
| Total Principal ($) | 261,880.23 |
| Total Interest ($) | 538,119.77 |
| IF YOU SAVE EVERY YEAR UNTIL RETIRE ( 65 ) | |
| Amount to Save Every Year ($) | 7,939.66 |
| Total Principal ($) | $268,189.86 |
| Total Interest ($) | $531,810.14 |
| IF YOU HAVE IT NOW | |
| Additional Amount Needed ($) | 109,288.10 |
| Total Principal ($) | 139,288.10 |
| Total Interest ($) | 660,711.90 |
| Result | |
|---|---|
| Balance at the retirement age ($) (65) | 646,653.85 |
| Equivalent current purchase power ($) | 266,412.83 |
| The amount you can withdraw monthly at the retirement age ($) (65) | 3,573.24 |
| Equivalent current purchase power ($) | 1,472.13 |
| The amount you can withdraw monthly for the whole retirement period ($) (65 - 85) | 4,573.73 |
| Equivalent current purchase power at the beginning of retirement ($) (65) | 1,884.32 |
| Equivalent current purchase power at the end of retirement ($) (85) | 1,043.30 |
Result
Total Amount You Have ($): 600,000
Monthly withdraw ($): 5,000
Your money will last (Years, Months): 15Y, 0.7M
| WITHDRAW LENGTH (years) | WITHDRAW AMOUNT ($/month) |
|---|---|
| 5 | 11,555.39 |
| 10 | 6,613.44 |
| 15 | 5,011.76 |
| 20 | 4,243.75 |
| 25 | 3,807.73 |
| 30 | 3,536.22 |
| 35 | 3,357.34 |
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What Is This Tool?
This calculator helps you project your retirement savings by accounting for your current balance, annual contributions, expected rate of return, and years until retirement. It also allows you to calculate the necessary annual contribution needed to meet a specific retirement goal.
How to Use This Tool?
- Enter your current retirement savings balance (P)
- Input your annual (or periodic) contribution amount (C)
- Specify your expected annual rate of return as a decimal (r)
- Enter the number of years remaining until retirement (t)
- Optionally, input your target retirement savings goal to find required contributions
- Click the calculate button to see your projected retirement savings or required contributions
Key Features
- Calculates projected retirement savings using compound interest formulas
- Determines required annual contributions to reach a desired retirement goal
- Allows input of current savings, contribution amounts, expected annual return, and time until retirement
- Provides precise calculations based on standard compound-growth formulas
- User-friendly and fast browser-based interface
Examples
- With a current balance of $50,000, annual contributions of $6,000, an expected return of 7% (0.07), and 20 years until retirement, the projected savings are calculated as follows: Initial growth: 50,000(1.07)^20 ≈ 193,484; contribution growth: 6,000 × ((1.07)^20 - 1)/0.07 ≈ 246,956; total projected savings ≈ 440,440.
Common Use Cases
- Individuals planning how much to save before retirement
- Financial advisors helping clients estimate future retirement funds
- Long-term investors evaluating contribution strategies and expected growth
Tips & Best Practices
- Use realistic estimates for your expected rate of return based on historical data
- Keep your contribution amounts consistent for accurate projections
- Regularly update inputs to reflect changes in your savings or market assumptions
- Consider consulting a financial advisor for personalized planning beyond this calculator
Limitations
- Assumes a constant annual rate of return without accounting for market volatility
- Presumes steady contributions throughout the investment period
- Does not factor in inflation, taxes, or changing economic conditions
- Results are estimates and should not replace professional financial advice
Frequently Asked Questions
- What variables do I need to use this calculator?
- You need your current savings balance (P), annual contribution amount (C), expected annual rate of return (r), and the number of years until retirement (t). If you have a target retirement goal, you can calculate the required contribution (C) as well.
- Can this calculator adjust for inflation or taxes?
- No. The calculator assumes fixed return and contributions and does not account for inflation, taxes, or market fluctuations.
- How accurate are the projections?
- The calculator uses standard compound-growth formulas with reliable numerical precision, but results depend on the accuracy of input assumptions and ignore market variability.
Key Terminology
- P
- Current retirement savings balance you have accumulated.
- C
- Annual or periodic contribution amount added to retirement savings.
- r
- Expected annual rate of return expressed as a decimal.
- t
- Number of years remaining until retirement.
- A
- Projected retirement savings balance at the time of retirement.
- Goal
- Target amount desired to have saved by retirement.