Retirement Calculator
Estimate how much you'll have saved when you retire. Enter your age, what you've saved, and how much you put away each month to see your balance at retirement, its value in today's dollars, and a yearly income estimate.
Savings at retirement
622,709
Check the highlighted fields to see your result.
- In today’s dollars
- 296,872
- You put in
- 200,000
- Yearly income (4% rule)
- 11,875
The yearly income is in today’s dollars. The calculator assumes a steady return; real returns go up and down.
Results are estimates for information only and do not constitute financial, medical, or legal advice.
How it works
The calculator grows your current savings and your monthly contributions until your retirement age, adding the return every month. Then it removes the effect of inflation so you can see the balance in today's dollars, which is easier to compare with your current costs.
The formulas
Balance = A × (1 + r)n + D × ((1 + r)n − 1) ÷ r
In today's dollars = balance ÷ (1 + inflation)years
A is what you have saved, D is the monthly savings, r is the yearly return divided by 12, and n is the number of months until retirement.
Worked example
You are 35, have $20,000 saved, put away $500 a month, and expect a 6% return and 2.5% inflation until you retire at 65.
- Your $20,000 grows to about $120,452 in 30 years.
- Your monthly savings grow to about $502,258.
- Total at 65: $622,709, which is about $296,872 in today's dollars.
- With the 4% rule, that's about $11,875 a year in today's dollars.
Frequently asked questions
What is the 4% rule?
It comes from studies of US stock and bond returns, best known from the 1998 "Trinity study": withdrawing about 4% of your savings in the first year of retirement, then adjusting for inflation, historically lasted at least 30 years in most cases. It is a rule of thumb, not a guarantee.
What return should I use?
It depends on how you invest. A mix of stocks and bonds has historically returned more than savings accounts, but with ups and downs. Try a cautious number, such as 4% to 6%, and compare it with a more optimistic one.
Does it include Social Security or a pension?
No. It only counts your own savings. Social Security, a pension, or other income would come on top. You can check your Social Security estimate at ssa.gov.
Does it include employer matching or taxes?
Add any employer match to your monthly savings to include it. The calculator does not account for taxes; withdrawals from traditional 401(k)s and IRAs are usually taxed as income.