Retirement Calculator

Estimate retirement needs, saving plan, monthly withdrawals, and how long your money can last.

How much do you need to retire?

$/year
Assumptions
%/year
of income
%/year
%/year
Optional
$/month
$
of income
Resultsave

You will need about $1,892,085.11 at age 67 to retire.

Based on your current plan, you will have about $1,173,672.94 at age 67, which is less than what you need for retirement.

~$1,173,672.94 (62%)
You will have
~$1,892,085.11
You will need
After retirement (if saved $1,173,672.94):
Actual amountToday's money
Income$8,898.35/month$3,455.56/month
After retirement (if saved $1,892,085.11):
Actual amountToday's money
Income$14,345.08/month$5,570.72/month

How can you save for retirement?

$
$
%/year
Resultsave

Following one of savings plans below will help you accumulate $600,000.00 at the retirement age of 67.

If you save every month until 67
Amount to Save Every Month:
$342.36
Total Principal:
$161,467.64
Total Interest:
$438,532.36
If you save every year until 67
Amount to Save Every Year:
$4,471.33
Total Principal:
$173,082.63
Total Interest:
$426,917.37
If you have it now
Additional Amount Needed:
$570,000.00
Total Principal:
$30,000.00
Total Interest:
$570,000.00

How much can you withdraw after retirement?

$
$/year
$/month
%/year
%/year
Resultsave
Balance at the retirement age of 67:
$782,492.59
Equivalent to current purchase power of:
$303,870.85
If withdraw at fixed purchasing power amount after retirement
The amount you can withdraw monthly at 67 and increase 3% annually:
$4,659.17
It is equivalent to current purchase power of:
$1,809.33
If withdraw at fixed amount after retirement
The amount you can withdraw monthly from 67 to 85:
$5,932.56
At age 67, equivalent to current purchase power of:
$2,303.83
At age 85, equivalent to current purchase power of:
$1,353.26

How long can your money last?

$
$/month
%/year
Resultsave

If withdraw $5,000.00 per month, $600,000.00 can last 15 years and 4 months.

The following are some other withdraw amount/length schedules.

Withdraw lengthWithdraw amount
1 years$51,639.86/month
2 years$26,592.37/month
3 years$18,253.16/month
4 years$14,091.02/month
5 years$11,599.68/month
6 years$9,943.73/month
7 years$8,765.13/month
8 years$7,884.86/month

Plan for your future with our free retirement calculator. Estimate how much you need to save each month to reach your retirement goal, based on your current savings, expected retirement age, and desired retirement income.

How the Retirement Calculator Works

This calculator projects your retirement savings growth using compound interest, then estimates whether your projected savings will support your desired retirement income based on standard withdrawal assumptions (commonly a 4% annual withdrawal rate).

Projected Savings = Current Savings × (1 + r)^t + Monthly Contributions compounded over t years.

How to Use This Calculator

  1. Enter your current age and planned retirement age
  2. Enter your current retirement savings
  3. Enter your monthly contribution amount
  4. Enter your expected annual rate of return
  5. Click Calculate to see your projected retirement savings and estimated monthly retirement income

Frequently Asked Questions

How much should I save for retirement?

A common guideline is to aim for 10-12x your annual salary saved by retirement age, though your specific target depends on your desired lifestyle and other income sources.

What is the 4% withdrawal rule?

The 4% rule suggests withdrawing 4% of your retirement savings in the first year, then adjusting for inflation each year after.

Does this calculator include pension or government benefits?

No, this calculator estimates only your personal savings growth. Pension and government benefits should be added separately.

Is it too late to start saving for retirement?

It's rarely too late to start, though starting earlier allows more time for compounding. Adjusting your contribution, retirement age, or lifestyle expectations can help you reach your goals.