Project how your retirement savings could grow with regular contributions, and see roughly how much you may need to save each month to reach a goal.
| Years until retirement | – |
| Total you will contribute | – |
| Growth from investment returns | – |
| Monthly amount needed to reach your goal | – |
How it works
The calculator compounds your current savings and adds your monthly contribution every month at the monthly equivalent of your expected annual return, in the same way as the compound interest calculator. If you enter a goal, it also works out the level monthly contribution needed, on top of your current savings growing on their own, to reach that goal by your retirement age.
Example
Starting with 20,000 at age 35, saving 400 a month until 65 (30 years) at a 6% return grows to roughly 522,000, of which about 164,000 is your own contributions and the rest is investment growth.
Frequently asked questions
Does this account for inflation?
No. The return you enter is treated as a plain growth rate. Many people use an "inflation-adjusted" return, such as 4 to 6%, to get a result in today’s money.
Does it include employer contributions or tax relief?
No. Add any employer match to your monthly contribution figure if you want to include it.
Is 6% a safe assumption for returns?
Investment returns vary and are never guaranteed. Use a figure that reflects your own investments and risk tolerance, and consider getting professional advice.
More free tools: Compound interest calculator · Savings goal calculator · All free tools
This calculator gives estimates for information only and is not financial advice. Investment returns are never guaranteed.
Self-employed? The Solo 401(k) vs SEP IRA calculator shows how much more you could contribute with the right account type.