Retirement Calculator
See how much you will have saved by retirement with inflation adjustment.
How this is calculated
Uses compound growth formula with monthly contributions over the years to retirement.
Frequently Asked Questions About Retirement Calculator
A retirement calculator projects how much you'll have saved by retirement based on current savings, monthly contributions, and investment returns. It also adjusts for inflation to show your purchasing power in today's dollars.
How much do I need to save for retirement?
Financial experts often suggest saving 70-80% of your pre-retirement income, or having 25-30 times your annual expenses saved. Your specific needs depend on your lifestyle, expected lifespan, healthcare costs, and Social Security benefits. This calculator helps you see if your current savings plan reaches your goal.
What annual return rate should I use?
Conservative estimates use 5-6% for balanced portfolios, while growth-focused investments average 7-8% historically. Use lower rates if your portfolio is conservative (bonds, CDs) and higher rates for growth-oriented investments (stocks). The average stock market return is about 10% historically, but this varies year to year.
Why does this calculator include inflation?
Inflation erodes purchasing power over time. $1 million in 30 years won't buy what it does today. The calculator shows both your nominal savings and inflation-adjusted value so you understand how much you'll actually be able to spend in retirement.
What if my retirement age changes?
Working a few years longer has a dramatic impact on retirement savings. Each additional year gives you more time to contribute and earn returns. This calculator shows how sensitive your retirement goal is to changes in retirement age.
How much should I contribute monthly?
Contribute as much as possible, starting with at least 10-15% of your gross income. Maximize tax-advantaged accounts like 401(k)s (contribution limits vary) and IRAs. The more you contribute now, the less you need from returns, reducing risk.
Does this account for Social Security or pensions?
This calculator shows only your savings and investment returns. Don't forget to factor in expected Social Security benefits and any pension income when planning retirement. Those income sources reduce how much you need to save.