Retirement Savings Calculator

See what your retirement savings could grow to by the time you stop working, and roughly what income they could give you.

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years
Enter an age from 16 to 90.
years
Enter an age from 17 to 100.
$
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$
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%
Enter a rate from 0 to 15.
%
Enter a rate from 1 to 10.
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Estimated pot at retirement

—
  • Could give you each month—
  • Could give you each year—
  • Total you put in—
  • Growth on your savings—

In today's money, before tax. Investments can fall as well as rise, so the real result could be higher or lower.

What saving more each month could do

This table uses your other numbers above.

Monthly savingPot at retirementMonthly income
Enter your numbers above to see this table.

How to use this calculator

  1. Enter your age now and when you'd like to retire.
  2. Add what you've saved for retirement so far and what you plan to add each month.
  3. Choose a growth rate after inflation. Using a rate after inflation keeps the result in today's money, so it's easier to compare with your costs now.
  4. Pick a withdrawal rate to turn the pot into a rough yearly income.

How it's calculated

Months to save = (retirement age − age now) × 12 Monthly growth = (1 + yearly growth)^(1/12) − 1 Pot = savings now × (1 + monthly growth)^months + monthly saving × ((1 + monthly growth)^months − 1) ÷ monthly growth Yearly income = pot × withdrawal rate

Monthly savings are added at the end of each month. Fees and taxes aren't included, and real returns change from year to year.

Worked example

Leo is 30, has $10,000 saved for retirement and adds $500 a month. He assumes 5% growth a year after inflation and plans to retire at 65.

Months to save = (65 − 30) × 12 = 420 Monthly growth = 1.05^(1/12) − 1 ≈ 0.4074% Savings now grow = 10,000 × 5.5160 ≈ 55,160 Monthly savings = 500 × (5.5160 − 1) ÷ 0.004074 ≈ 554,232 Pot = 55,160 + 554,232 ≈ $609,392 Yearly income = 609,392 × 4% ≈ $24,376

Leo could have about $609,000 in today's money. He only paid in $220,000; the rest is growth over 35 years. Taking 4% a year would give about $2,031 a month.

Tip: self-employed people usually have to arrange their own pension. Tax-advantaged accounts include the SEP IRA and Solo 401(k) in the US, a personal pension or SIPP in the UK, an RRSP in Canada, and super in Australia. Rules and limits change, so check the official guidance for your country.

Frequently asked questions

What growth rate should I use?

No one knows future returns. Many people try a cautious rate after inflation, such as 3–5%, and compare it with a lower rate to see a worse case. The result is an estimate, not a forecast.

What is a withdrawal rate?

It's the share of your pot you take out each year in retirement. A lower rate makes the money more likely to last. 4% is a widely used starting point for planning, but it isn't a guarantee.

Does this include state pensions or Social Security?

No. It only shows your own savings. Any state pension, Social Security, CPP or Age Pension would be on top. Check your official statement or forecast for those amounts.

Is this financial advice?

No. It's a planning estimate. For advice on where to invest or which pension to choose, speak to a regulated financial adviser.

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Disclaimer: results are estimates for planning only and are not tax, legal or financial advice. Rules and rates vary by country, state and personal situation. Check with a qualified accountant before making decisions. Read the full disclaimer.

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