Retirement Savings Calculator
Calculate how much you need to save monthly to reach your retirement goals.
Your age now
When you plan to retire
Existing retirement savings
Amount you save monthly
Average investment return
Expected monthly spending
Retirement Balance
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Years to Retirement
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Total Contributed
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Interest Earned
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Monthly Surplus/Shortfall
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Status
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How to Use This Calculator
- Enter Current Age: Your age now.
- Enter Retirement Age: When you plan to retire.
- Enter Current Savings: Existing retirement savings.
- Enter Monthly Contribution: Amount you can save monthly.
- Review Results: See projected retirement savings.
Frequently Asked Questions
A common guideline is to save 10-15% of your gross income for retirement (including employer match). If you start later, you'll need to save more. By age 30, aim for 1x your annual salary; by 40, 3x; by 50, 6x; by 60, 8x.
The 4% rule suggests you can safely withdraw 4% of your retirement savings annually (adjusted for inflation) without running out of money for 30 years. If you have $1 million saved, that's $40,000/year or $3,333/month.
Generally: 1) Get full 401(k) match (free money), 2) Max out Roth IRA ($7,000/year), 3) Max out 401(k) ($23,000/year). 401(k) offers higher contribution limits; IRAs typically have better investment options and lower fees.
Compound interest is powerful—$10,000 invested at 7% returns becomes $76,000 in 30 years. Starting at 25 vs 35 can mean $200,000+ difference in final savings. Time in the market beats timing the market.
Improve Your Financial Health
- Free credit score
- Personalized advice
- Track your progress
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