How to Use the Retirement Savings Calculator
- Enter your current retirement savings balance.
- Add how much you contribute each month.
- Enter your expected annual return and years until retirement.
- See your projected balance at retirement and how much is growth vs. contributions.
Frequently Asked Questions
How much should I save for retirement?
A common guideline is to save 10-15% of your income, but the right amount depends on your target retirement age, lifestyle and expected expenses. Use this calculator to test different contribution levels.
What return rate should I assume?
Many planners use a long-term average of around 5-7% after inflation for a diversified portfolio, but you should choose a rate that matches your own investments and risk tolerance.
Does starting early really matter?
Enormously. Because of compounding, contributions made in your 20s and 30s have decades to grow and typically contribute far more to your final balance than later contributions.
Is inflation included?
This tool projects nominal balances. To plan in today's money, use an inflation-adjusted (real) return rate for your expected return input.
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