How to Use This Calculator
Enter your current age, target retirement age, existing savings, monthly contribution, expected return, and desired retirement income to see if you are on track.
Formula
This calculator uses the future value of a lump sum plus the future value of an annuity to project your total retirement savings. Years of income is calculated as total savings divided by desired annual income (simplified — does not account for continued growth in retirement).
Examples
Example
Age 30, retiring at 65, with $50,000 saved and contributing $1,000/month at 7% return:
Projected Savings: $1,722,538
At $80,000/year, that covers ~21.5 years.
Frequently Asked Questions
How much do I need to retire?
A common rule of thumb is to have 25x your desired annual retirement income saved (the 4% rule). For $80,000/year, that is $2,000,000. However, this varies based on lifestyle, healthcare costs, and other income sources like Social Security.
What return rate should I use?
The stock market has historically returned about 10% before inflation, or 7% after inflation. A conservative estimate of 6-7% is reasonable for a diversified portfolio. Use a lower rate if you are closer to retirement with a more conservative allocation.