Free Retirement Calculator
Project your retirement savings balance and estimate your monthly income using the 4% withdrawal rule. Enter your current age, savings, monthly contributions, and expected return rate. Free, private — all calculations run in your browser.
📊 Scenario Comparison
| Scenario | Balance at Retirement | Monthly Income | vs. Base |
|---|---|---|---|
| ★ Base (7.0%, retire 65) | $755,006 | $2,517 | — |
| Return +1% (8.0%) | $939,285 | $3,131 | +$184,279 |
| Return −1% (6.0%) | $611,115 | $2,037 | -$143,890 |
| Retire 5yr Earlier (age 60) | $583,069 | $1,944 | -$171,937 |
| +$200/mo Contribution ($700/mo) | $1,019,065 | $3,397 | +$264,059 |
💡 What Your Numbers Mean
- You are on track to retire with $755,006 at age 65. At a 4.0% withdrawal rate, that generates $2,517/month (inflation-adjusted) in retirement income.
- At 4.0% withdrawal, your portfolio is projected to last indefinitely through age 90 — a sustainable withdrawal rate.
- Your employer match contributes $105,000 — free money that accounts for 33% of all your working contributions. Always contribute at least enough to capture the full match.
- Saving $500/month means you are at or above the recommended 15% of gross income savings rate for retirement. Even an additional $100/month now can add $264,059 to your retirement balance.
About This Retirement Calculator
The Retirement Calculator projects how much money you will have saved by the time you reach your target retirement age, based on your current savings, monthly contributions, and expected annual investment return. It then estimates how much monthly income that balance can generate using the widely-accepted 4% withdrawal rule, and how many years that income will last — a critical figure for planning purposes.
The Formula — How It Works
The calculator uses two standard formulas. The first is the future value of a growing annuity:
Where: FV = future value at retirement, PV = current savings balance, r = monthly interest rate (annual rate ÷ 12), n = total months until retirement, PMT = monthly contribution.
The second formula estimates monthly retirement income using the 4% rule, popularised by financial planner William Bengen in 1994 and updated by the Trinity Study in 1998:
Monthly income = Annual withdrawal ÷ 12
Assumptions and Limitations
This calculator makes the following simplifying assumptions. Understanding these helps you interpret results correctly:
- •Returns are compounded monthly at a constant rate — real returns fluctuate year to year
- •Monthly contributions remain constant over the entire savings period
- •Taxes on investment gains and withdrawals are not accounted for
- •Inflation is not deducted from the projected balance — the figure is nominal
- •Social Security income is not included in the retirement income estimate
- •The 4% rule assumes a 30-year retirement — adjust for longer retirements
Who Should Use This Calculator
This tool is designed for anyone planning their financial future — from a 22-year-old entering their first job wanting to see the power of compound interest, to a 50-year-old running a retirement readiness check to see if they are on pace, to a couple planning to retire early who need to know what savings rate will get them to financial independence. It is also useful for comparing the impact of small changes: what does an extra $200/month really do over 30 years? (Answer: usually over $200,000.)
When to Consult a Professional
This calculator is a starting point for retirement planning, not a substitute for professional advice. Before making significant financial decisions — choosing investment accounts, deciding between a Roth IRA and traditional 401(k), planning withdrawal strategies, or timing Social Security claims — consult a qualified financial planner (CFP) or fee-only financial advisor. A professional can account for your tax situation, estate planning goals, risk tolerance, and the full complexity of your financial picture. The National Association of Personal Financial Advisors (NAPFA) at napfa.org can help you find a fee-only fiduciary advisor.
Privacy Notice
All calculations in this retirement calculator are performed entirely in your browser. No data you enter — including your age, savings amount, income, or planned retirement age — is transmitted to any server, stored in any database, or shared with third parties. Your financial information stays completely private on your device. See our Privacy Policy for full details.
When to Use This Calculator
See how starting early with even $200/month can build over $500,000 by retirement thanks to decades of compound growth — the most powerful time to begin.
Assess whether your current savings rate will hit your retirement target, and calculate exactly how much you need to increase monthly contributions to stay on track.
Model a retirement age of 50 or 55 to see what savings rate and portfolio size you need to achieve financial independence earlier than the traditional 65.
Model the difference between contributing 3% (minimum for employer match) vs 10% of your salary to quantify the long-term impact of capturing full employer match.
Enter your current savings and the monthly income you need in retirement to discover exactly how large a gap exists — and what monthly contribution closes it.
💡 Pro Tips
The difference between a 6% and 7% annual return over 35 years is not 1% — it is nearly $300,000 on a $500/month contribution. Always aim to maximise investment return through low-cost index funds like S&P 500 ETFs, which historically outperform actively managed funds after fees.
Increasing your monthly contribution by just $100 today adds roughly $120,000 to your retirement balance over 35 years at 7%. Even small increases compounded over time create massive differences. Try "round-up" strategies: round your contribution to the next $50 each time you get a pay rise.
The 4% rule is based on a 30-year retirement. If you plan to retire early at 50, use a 3% or 3.5% withdrawal rate to reduce the risk of running out of money over a 40–50 year retirement. This also means you need 28–33× your annual expenses saved, not 25×.
Run this calculator again every year to track whether you are on pace. Life changes — income increases, windfalls, or unexpected expenses — all change your trajectory. An annual retirement check-in takes 5 minutes and keeps you accountable to your future self.
Frequently Asked Questions
Financial Disclaimer
Retirement Calculator — Results are projections based on inputs provided and the compound interest formula. They do not constitute financial, investment, or retirement advice. Actual retirement outcomes will vary based on market conditions, inflation, taxes, Social Security benefits, and personal circumstances not captured by this calculator. Always consult a qualified financial planner or fee-only fiduciary advisor before making retirement planning decisions.
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