Retirement Savings Calculator
Project how your retirement savings could grow based on your current contributions.
Your Details
Contributions vs. Growth
What makes up your final balance
- Contributed$190.0K
- Growth$444.1K
Final Balance by Rate of Return
Sensitivity to your assumed return
Balance Growth Over Time
Total balance year by year
Contributed vs. Growth by Year
How growth accelerates over time
How It Works
- Enter your starting balance and regular contribution.
- Enter your expected annual rate of return.
- Set your time horizon in years.
- Press Calculate to update your results and charts.
Formula Used
P = current balance, r = periodic rate, t = number of periods, PMT = contribution per period.
Good to Know
- • Starting earlier matters more than contributing more later.
- • Small rate differences compound into large gaps over decades.
- • Consistent contributions smooth out market swings.
Important Notes
- • Returns are assumed, not guaranteed.
- • Figures don't account for taxes or fees unless noted.
- • Past performance doesn't predict future results.
How Much Should You Be Saving?
A commonly cited guideline is to save enough that your retirement balance reaches roughly 10–12 times your final annual salary by the time you retire, though the right number depends heavily on your expected expenses and other income sources like Social Security. This calculator helps test whether your current contribution rate is on track for a given time horizon.
The Cost of Waiting
Because retirement savings often compound for decades, delaying contributions by even a few years can meaningfully lower the final balance — try reducing the time horizon in the calculator above and watch how much the future value drops. Starting contributions earlier, even at a smaller amount, often beats starting larger but later.
What You Need to Know First
- Nest egg — the total retirement savings balance accumulated by retirement age.
- Savings rate — the percentage of income set aside for retirement each year.
Real Numbers, Real Example: The Cost of Starting 5 Years Later
$40,000 starting balance, $500/month, 7% return, comparing 25 vs. 20 years to grow:
20 years: future value ≈ $423,000
Just 5 fewer years of compounding — with identical contributions — results in nearly $200,000 less at the end. This is the clearest illustration of why starting retirement savings early matters more than almost any other single factor.
Starting Age Comparison Table
$500/month at 7%, to age 65:
| Start Age | Balance at 65 |
|---|---|
| 25 (40 yrs) | $1,198,000 |
| 35 (30 yrs) | $566,000 |
| 45 (20 yrs) | $246,000 |
Where People Slip Up in Retirement Savings Planning
- Waiting to start "when I earn more" — the cost of delay compounds heavily, as the table above shows.
- Not revisiting the plan periodically — contributions and goals should adjust as income and life circumstances change.