About the Retirement Calculator
This retirement calculator answers the question “will I have enough to retire?”. It grows your current savings and monthly contributions until your retirement age, then draws down the balance to pay for your retirement spending — increased with inflation every year and reduced by income such as Social Security or a pension.
You see the savings you are projected to have, the nest egg you actually need to fund retirement to your planning age, the surplus or shortfall, the age your money is expected to run out, and the total monthly saving that would close any gap. The chart shows the full lifecycle of your portfolio: accumulation, then withdrawals.
Enter retirement spending and other income in today’s dollars — the calculator inflates them for you. Returns before and after retirement are set separately because most people shift to a more conservative portfolio once they stop working. Results assume steady average returns, so leave a margin for bad markets.
With the default inputs, the projected savings at retirement is $2,031,620.74. Change any value above to recalculate instantly.
How to use the retirement calculator
- 1Enter your age, planned retirement age and the age to plan until.
- 2Add current retirement savings and how much you save each month.
- 3Set returns before and during retirement, and inflation.
- 4Enter yearly retirement spending and Social Security or pension income in today’s dollars.
- 5Check the surplus or shortfall and the monthly saving needed to stay on track.
Formula and method
Before retirement your savings compound monthly at the pre-retirement return, with the monthly contribution added at the end of each month. Retirement spending minus other income (Social Security, pensions) is inflated from today’s dollars to your retirement year to give the first-year withdrawal W₀.
The savings you need is the present value, at retirement, of withdrawals that grow with inflation every year until your planning age, discounted at the post-retirement return, with each withdrawal taken at the start of the year. To see how long the money lasts, the calculator withdraws at the start of each year and grows the remainder at the post-retirement return until the balance cannot cover a full year.
- B
- Savings balance
- C
- Monthly contribution
- r
- Return before retirement
- r_post
- Return during retirement
- π
- Inflation
- N
- Years until retirement
Worked examples
Age 35, $100k saved, $1,000 a month
Savings grow to about $2.03 million by 65. Spending of $60,000 minus $24,000 of other income is $36,000 today, or about $87,400 a year after 30 years of 3% inflation. Funding that for 25 years at a 5% return needs about $1.75 million, so you are on track with roughly $281,000 to spare and money lasting to about age 95.
Late starter: age 50 with $200k
Fifteen years of growth brings savings to about $1.05 million, but inflating $40,000 of net spending by 15 years of 3% inflation and funding it for 25 years needs about $1.25 million. Saving about $2,140 a month would close the gap.
Low spending covered mostly by Social Security
Only $6,000 a year (today’s dollars) must come from savings, about $14,564 in the first retirement year after inflation. That needs roughly $292,000 at 65, and the projected $2.03 million grows faster than the withdrawals, so the money never runs out.
Frequently asked questions
How much do I need to retire?+
A common rule is 25 times the yearly spending your savings must cover (the 4% rule). If you spend $60,000 and receive $24,000 from Social Security, your savings must cover $36,000 — about $900,000 in today’s dollars.
What return should I assume?+
Many planners use 6%–7% before retirement for a stock-heavy portfolio and 4%–5% during retirement for a more balanced one. Lower assumptions give a more conservative plan.
Should I include Social Security?+
Yes, if you expect to receive it. Enter your estimated benefit from your Social Security statement in today’s dollars; it reduces what your savings need to cover.
What if my money runs out before my plan age?+
Options include saving more, working a few years longer, reducing retirement spending, delaying Social Security for a larger benefit, or using part of your savings to buy an annuity.
Why does the calculator adjust for inflation?+
Prices roughly double every 24 years at 3% inflation, so $60,000 of spending today costs far more in 30 years. Entering today’s dollars and letting the calculator inflate them avoids underestimating what you need.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.