Retirement Savings Calculator

Planning for retirement requires knowing two numbers: how much you'll need, and whether you're on track to get there. This calculator projects your retirement balance based on current savings and monthly contributions, then shows whether your projected balance can sustain your desired annual income using the widely-cited 4% withdrawal rule.

Enter Your Measurements

Current Age(years)

Retirement Age(years)

Current Retirement Savings($)

Monthly Contribution($)

Total from all retirement accounts (401k, IRA, etc.)

Expected Annual Return(%)

7% is a common real-return estimate for a balanced portfolio

Desired Annual Income in Retirement($)

In today's dollars

Results

Projected Balance at Retirement

1,015,810

Needed to Fund Retirement (4% Rule)

1,500,000

Sustainable Annual Income

40,632

Surplus / (Shortfall)

-484,190

Formula

Balance = PV × (1 + r)^n + PMT × [((1 + r)^n − 1) / r] Needed = Desired Annual Income ÷ 0.04 (4% withdrawal rule) Surplus = Projected Balance − Amount Needed

How to Use This Calculator

How to Use

1
Enter your current age and target retirement age.
2
Input your current retirement savings and monthly contribution across all accounts.
3
Set your expected annual return (7% is a common estimate for a diversified portfolio).
4
Enter your desired annual income in retirement to see whether you're on track.

Frequently Asked Questions

What is the 4% rule?

The 4% rule is a widely-used retirement withdrawal guideline from the Trinity Study. It suggests that retirees can withdraw 4% of their portfolio in the first year of retirement, then adjust for inflation annually, with a high probability that the portfolio lasts at least 30 years. To retire on $60,000/year, you'd need a $1.5 million portfolio ($60,000 ÷ 0.04).

How much should I be saving for retirement?

A common benchmark is saving 15% of your gross income, including any employer match. Start earlier if you can — contributions made in your 20s and 30s have far more time to compound than contributions made in your 50s. Maximizing tax-advantaged accounts (401k: $23,500/year in 2025; IRA: $7,000/year) should be the priority before taxable investing.

Does this calculator account for inflation?

This calculator uses a nominal return rate. For a real (inflation-adjusted) projection, use 5–7% instead of 8–10% — it subtracts the historical average inflation rate of roughly 3%. Your desired income input should be in today's dollars; the inflation adjustment is embedded in the lower real return assumption.

What if I'm behind on retirement savings?

Catch-up contributions are allowed for people 50 and older: an additional $7,500 to a 401k and $1,000 to an IRA in 2025. Delaying retirement by even 2–3 years also has an outsized impact — it adds contribution years, reduces withdrawal years, and may increase Social Security benefits. Running this calculator with different retirement ages illustrates the difference clearly.

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About This Calculator

This calculator uses the formula: Balance = PV × (1 + r)^n + PMT × [((1 + r)^n − 1) / r] Needed = Desired Annual Income ÷ 0.04 (4% withdrawal rule) Surplus = Projected Balance − Amount Needed. All calculations follow industry-standard methods. Results are estimates — always verify with a licensed professional for structural or code-compliant work.

Built and maintained by the CalcSmart team. Last updated March 2026.

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