Retirement Savings Calculator
Find out if you’re on track for retirement. See your projected balance, how your savings grow year by year, and exactly what you need to hit your goal.
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Retirement Savings Calculator — How It Works
Our free Retirement Savings Calculator shows you whether you’re on track to retire comfortably. Enter your current age, retirement age, existing savings, monthly contributions, employer match, and expected investment return — and the calculator projects your balance at retirement, estimates your monthly income in retirement, and tells you how far ahead or behind your goal you are.
Results can be shown in nominal dollars (future value) or in today’s dollars (inflation-adjusted), so you get a realistic picture of what your savings will actually buy. A full year-by-year projection table and growth chart let you see exactly how your wealth builds over time.
How the Projection Is Calculated
The calculator compounds your existing savings and adds monthly contributions at your chosen annual return rate. If you set an annual contribution increase, contributions rise by that percentage each year — matching salary growth or inflation. The result is your projected nominal balance at retirement.
When the inflation-adjusted toggle is on, the projected balance is deflated back to today’s purchasing power using the formula: real value = nominal value ÷ (1 + inflation rate)^years. This is the most meaningful figure for long-range planning because it shows what your future savings are actually worth in terms of today’s cost of living.
How the Retirement Goal Is Set
Enter your own savings goal, or leave it blank to use the calculator’s auto-calculated target. The auto-target uses the 4% withdrawal rule: it calculates the lump sum needed so that withdrawing 4% per year covers a reasonable income for your full retirement period. This is one of the most widely used rules of thumb in retirement planning and is supported by long-run historical data for balanced portfolios.
Retirement Planning by Country
- Canada: RRSP and TFSA are the primary registered accounts. Maximize RRSP contributions for tax-deferred growth; TFSA for tax-free withdrawals. Canada Pension Plan (CPP) and Old Age Security (OAS) provide a base retirement income on top of personal savings.
- USA: 401(k), IRA, and Roth IRA are the key vehicles. Many employers match 401(k) contributions — always capture the full match as it is effectively free money. Social Security provides a base income floor.
- UK: Workplace pensions and the State Pension form the core. Auto-enrolment means most employees are already contributing; increasing contributions above the minimum significantly improves outcomes.
- Australia: Superannuation (super) is compulsory and employer-funded at 11% of earnings. Voluntary concessional and non-concessional contributions can significantly boost your final balance.