Use this free retirement calculator to project how much money you’ll have when you retire. Enter your current age, savings balance, monthly contributions, and expected rate of return to see a year-by-year breakdown of your retirement fund growth — and find out if you’re on track.

How to Use the Retirement Calculator

Begin by entering your current age and planned retirement age. The more years you have until retirement, the more time compound growth has to work in your favor. Even a few extra years of investing can dramatically increase your final balance — which is why the most powerful financial move you can make is to start saving early.

Enter your current retirement savings balance. This includes everything in your 401(k), IRA, Roth IRA, or other retirement-specific accounts. Don’t include regular brokerage accounts or savings accounts here unless you plan to use them exclusively for retirement. Next, enter your monthly contribution — the total you add each month across all retirement accounts, including employer matches.

The expected annual return is the most impactful variable in the calculation. A conservative estimate is 5–6% (reflecting a bond-heavy portfolio), moderate is 7% (a common assumption for a balanced stock/bond portfolio), and aggressive is 8–10% (heavily weighted toward equities). Over a 30-year horizon, the difference between 5% and 8% on a $500/month contribution is roughly $400,000 in final balance.

The calculator also accounts for inflation. The “inflation-adjusted” balance shows what your projected savings will actually be worth in today’s purchasing power — a critical number, because $1.5 million in 30 years may only feel like $750,000 in today’s dollars if inflation averages 2.5%.

Understanding Your Retirement Results

Your projected balance at retirement is shown in both nominal dollars (the actual dollar amount) and inflation-adjusted dollars (today’s purchasing power). Always plan based on the inflation-adjusted figure to avoid being surprised by how far your money actually goes in retirement.

The monthly withdrawal supported figure uses the widely-cited 4% safe withdrawal rate — a guideline suggesting you can withdraw 4% of your portfolio per year with a high probability of not running out of money over a 30-year retirement. For example, a $1,000,000 portfolio supports approximately $40,000/year or $3,333/month. If that number falls short of your expected retirement expenses, you’ll need to either save more, work longer, or plan for additional income sources like Social Security.

Don’t forget to factor in Social Security. The average Social Security benefit in 2026 is approximately $1,900/month. Visit SSA.gov to see your personalized estimate. Adding this to your projected portfolio withdrawal gives you your total estimated retirement income.

Frequently Asked Questions

How much do I need to retire comfortably?

The most common guideline is the 25x rule: multiply your expected annual retirement expenses by 25. If you expect to spend $60,000/year in retirement, you need $1.5 million saved. This is derived from the 4% safe withdrawal rate. Your actual number depends on your lifestyle, healthcare costs, Social Security income, and how long you live.

What is the 4% rule?

The 4% rule, developed from the Trinity Study, suggests that retirees can withdraw 4% of their portfolio in the first year of retirement, then adjust for inflation each year, with a very high probability of the money lasting 30 years. It’s a useful starting benchmark, though some financial planners now recommend 3–3.5% given longer life expectancies and lower expected future returns.

Is it too late to start saving for retirement at 45?

No — starting at 45 with 20 years until retirement at 65 still gives you two decades of compound growth. If you max out your 401(k) ($23,500/year) and IRA ($7,000/year) starting at 45, you could accumulate $800,000+ by retirement at a 7% return. Additionally, workers 50 and older receive “catch-up contribution” allowances to accelerate savings.

Should I contribute to a traditional 401(k) or Roth 401(k)?

The core difference is timing of the tax benefit. Traditional contributions reduce your taxable income now; Roth contributions are made with after-tax dollars but grow and can be withdrawn tax-free. If you expect to be in a higher tax bracket in retirement than you are now, Roth is typically better. If you expect a lower bracket in retirement, traditional wins. Many advisors recommend contributing to both for tax diversification.

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