What is a retirement calculator?
A retirement calculator estimates how much savings you may have by the time you retire. It combines your current savings, future monthly contributions, and expected annual growth to project a possible retirement balance.
This can help you understand whether your current savings plan may be enough to support your future retirement goals.
How this retirement calculator works
This calculator uses monthly compounding based on your expected annual return and adds your monthly contributions over time until retirement age. It then compares that projected total with your optional retirement goal.
What is the 4% rule?
The 4% rule is a common rule of thumb used in retirement planning. It suggests that withdrawing about 4% of a retirement portfolio per year may provide a sustainable income in some long-term scenarios.
This calculator uses that concept to show a simple estimated monthly retirement income. It is only an educational estimate, not a guarantee.
How to use this calculator
- Enter your current age and target retirement age.
- Enter your current savings balance.
- Enter how much you plan to contribute each month.
- Enter your expected annual return.
- Optionally enter a retirement goal.
- Review the projected balance, growth, and estimated monthly retirement income.
This tool is designed to be fast, simple, and easy to use on desktop or mobile devices.
Frequently asked questions
What is investment growth?
Investment growth is the portion of your projected retirement balance that comes from returns rather than your own direct contributions.
What if I enter a retirement goal?
The calculator compares your projected final balance with your retirement goal and shows whether you are below, at, or above that target.
Is the monthly retirement income guaranteed?
No. It is only a simple estimate based on a 4% annual withdrawal rule and does not account for taxes, inflation, or market risk.
Can I use this for any currency?
Yes. The calculator uses plain numbers, so it can work with dollars, euros, pounds, pesos, or other currencies.