Retirement Savings Calculator

Example Calculation

A 30-year-old earns $75,000, has $25,000 saved, puts in 10% of pay and gets a 3% employer match. Assume a 7% return, 3% salary growth and retirement at 65.

The projected balance at 65 is about $2,183,452, which is about $920,044 in today's dollars after 2.5% inflation. A 4% withdrawal would give roughly $7,278 a month, or $3,067 a month in today's money, before Social Security.

How It Works

This retirement calculator projects your savings year by year from today until your target retirement age. Each year your balance grows by your assumed rate of return, then your annual contribution is added. Your contribution is your salary multiplied by your savings rate plus any employer match, and your salary itself grows by the raise percentage you enter.

At retirement, the calculator shows your projected nest egg in future dollars and in today’s dollars after adjusting for inflation. The “today’s dollars” number is the one to focus on: $2 million in 30 years will not buy what $2 million buys now. It then estimates sustainable monthly income using a withdrawal rate. The classic guideline is 4% of the starting balance per year, adjusted for inflation, which historically has supported a 30-year retirement in most scenarios — though it is a rule of thumb, not a guarantee.

If you expect Social Security, enter the estimated monthly benefit in today’s dollars from your statement at ssa.gov and the tool will add it to your income projection. Try the sensitivity of each lever: raising your savings rate by two points, delaying retirement by three years, or capturing the full employer match. Capturing the match is typically the best guaranteed return available to a saver.

Remember that projections depend on assumptions. Markets fluctuate, inflation varies, and healthcare costs can be significant before Medicare eligibility at 65. Use the output to see whether you are on track and to set a savings target, then revisit it yearly. This tool is educational and not personalized investment advice.

Formula Explained

Each year: balance = balance × (1 + return) + salary × (savings rate + match), then salary = salary × (1 + raise).

Real value = nominal ÷ (1 + inflation)years; Monthly income = balance × withdrawal rate ÷ 12.

Assumptions and limits

• Your savings rate and employer match are percentages of pay, and contributions are added at the end of each year after growth.
• Salary growth, investment return and inflation are constant. Real returns vary and are not guaranteed.
• Today’s dollars are the future balance divided by (1 + inflation) for each year to retirement.
• A 4% withdrawal rate is a guideline drawn from historical studies of 30-year retirements. It is not a guarantee, and it is not tied to your taxes or your investments.
• Taxes, fees, required minimum distributions and contribution limits (for 2026, $24,500 for a 401(k) and $7,500 for an IRA) are not modeled. Social Security is only the amount you enter from your own statement.