Retirement Calculator

Tell the calculator your age, when you want to stop working, what you have saved and what you add each month. Then say how much monthly income you want in retirement.

It shows what your savings could be worth at retirement, what you need, and whether you are ahead or behind. If you are behind, it tells you how much extra to save each month.

Please note: Estimate only. This is not financial advice. Returns are not guaranteed and real life is less smooth than a steady rate. Talk to a qualified adviser before making retirement decisions.

How it works

Before retirement, your savings grow each month at the return you enter, and your monthly deposits are added. This gives your balance on the day you retire, in future dollars.

Future dollars buy less than today’s. So the calculator also shows that balance in today’s buying power, by dividing by the inflation of the years in between. This is the number to compare with the income you want, because you described that income in today’s money too.

During retirement, your savings keep growing at the retirement return, while you take out income that rises with inflation to keep the same buying power. The “needed” figure is how much it takes to pay your wanted income every month until your plan-to age. Other income, like a pension or Social Security, reduces what your savings must cover.

Everything here is based on steady returns. In real life returns jump around, and a bad few years right at the start of retirement can hurt more than the average suggests. Use the results to compare plans, then build in some safety margin.

balance at retirement = savings grown month by month + deposits
in today’s money = balance ÷ (1 + inflation)^years to retirement
needed = monthly income wanted × years-of-income factor at the return after inflation
gap = in today’s money − needed

Worked example: A 35-year-old planning to retire at 65

Savings $50,000, deposits $800 a month, 7% growth before retirement, 5% after, 2.5% inflation, and a wish for $5,000 a month until age 90.

At 65 the balance is $1,316,175, which is worth $627,477 in today’s money. Paying $5,000 a month for 25 years needs $1,125,602 in today’s money, so the plan is short by $498,125. The savings alone can pay about $2,787 a month. Closing the gap would take about $893 more each month.

If $2,000 a month of that need comes from other income, such as a pension, the shortfall shrinks to $47,885 and the extra saving needed drops to about $86 a month.

Frequently asked questions

What return should I enter?

Use a cautious number. Many people use a lower return after retirement because they hold safer investments. Try a few values and see how much your answer moves.

Does this include Social Security?

Only if you enter it. Put your expected Social Security or pension in the “other monthly income” box, in today’s dollars. The Social Security Administration has an estimator for your own figure.

Why is the answer shown in today’s money?

A dollar in 30 years buys less than a dollar today. Showing the answer in today’s buying power lets you compare it with your life now.

What age should I plan to?

Plan for a long life. Many planners use 90 or more, because running out of money at 85 is a worse problem than having extra.

Does it include taxes?

No. Withdrawals from traditional retirement accounts are usually taxed. If so, enter the income you want before tax, or raise it to cover tax.

What if returns are lower than I assumed?

Then you need to save more, retire later, or spend less. Lower the return by a point or two and see what changes. That is a good test of how safe your plan is.

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Content last reviewed 2026-10-13.