Retirement Calculator
Calculate how much you need to save for retirement and estimate your monthly retirement income. Plan your financial future with projections that account for inflation, Social Security, and investment growth.
You may need to save more or adjust your retirement goals to meet your desired income.
| Age | Year | Annual Contribution | Interest Earned | Balance |
|---|---|---|---|---|
| 24 | 2025 | $12,000.00 | $3,500.00 | $65,500.00 |
| 25 | 2026 | $12,000.00 | $4,585.00 | $82,085.00 |
| 26 | 2027 | $12,000.00 | $5,745.95 | $99,830.95 |
| 27 | 2028 | $12,000.00 | $6,988.17 | $118,819.12 |
| 28 | 2029 | $12,000.00 | $8,317.34 | $139,136.45 |
| 29 | 2030 | $12,000.00 | $9,739.55 | $160,876.01 |
| 30 | 2031 | $12,000.00 | $11,261.32 | $184,137.33 |
| 31 | 2032 | $12,000.00 | $12,889.61 | $209,026.94 |
| 32 | 2033 | $12,000.00 | $14,631.89 | $235,658.83 |
| 33 | 2034 | $12,000.00 | $16,496.12 | $264,154.94 |
| 34 | 2035 | $12,000.00 | $18,490.85 | $294,645.79 |
| 35 | 2036 | $12,000.00 | $20,625.21 | $327,270.99 |
| 36 | 2037 | $12,000.00 | $22,908.97 | $362,179.96 |
| 37 | 2038 | $12,000.00 | $25,352.60 | $399,532.56 |
| 38 | 2039 | $12,000.00 | $27,967.28 | $439,499.84 |
| 39 | 2040 | $12,000.00 | $30,764.99 | $482,264.83 |
| 40 | 2041 | $12,000.00 | $33,758.54 | $528,023.37 |
| 41 | 2042 | $12,000.00 | $36,961.64 | $576,985.00 |
| 42 | 2043 | $12,000.00 | $40,388.95 | $629,373.95 |
| 43 | 2044 | $12,000.00 | $44,056.18 | $685,430.13 |
| 44 | 2045 | $12,000.00 | $47,980.11 | $745,410.24 |
| 45 | 2046 | $12,000.00 | $52,178.72 | $809,588.96 |
| 46 | 2047 | $12,000.00 | $56,671.23 | $878,260.18 |
| 47 | 2048 | $12,000.00 | $61,478.21 | $951,738.40 |
| 48 | 2049 | $12,000.00 | $66,621.69 | $1,030,360.08 |
| 49 | 2050 | $12,000.00 | $72,125.21 | $1,114,485.29 |
| 50 | 2051 | $12,000.00 | $78,013.97 | $1,204,499.26 |
| 51 | 2052 | $12,000.00 | $84,314.95 | $1,300,814.21 |
| 52 | 2053 | $12,000.00 | $91,056.99 | $1,403,871.20 |
| 53 | 2054 | $12,000.00 | $98,270.98 | $1,514,142.19 |
| 54 | 2055 | $12,000.00 | $105,989.95 | $1,632,132.14 |
| 55 | 2056 | $12,000.00 | $114,249.25 | $1,758,381.39 |
| 56 | 2057 | $12,000.00 | $123,086.70 | $1,893,468.09 |
| 57 | 2058 | $12,000.00 | $132,542.77 | $2,038,010.85 |
| 58 | 2059 | $12,000.00 | $142,660.76 | $2,192,671.61 |
| 59 | 2060 | $12,000.00 | $153,487.01 | $2,358,158.63 |
| 60 | 2061 | $12,000.00 | $165,071.10 | $2,535,229.73 |
| 61 | 2062 | $12,000.00 | $177,466.08 | $2,724,695.81 |
| 62 | 2063 | $12,000.00 | $190,728.71 | $2,927,424.52 |
| 63 | 2064 | $12,000.00 | $204,919.72 | $3,144,344.24 |
| 64 | 2065 | $12,000.00 | $220,104.10 | $3,376,448.33 |
| 65 | 2066 | $12,000.00 | $236,351.38 | $3,624,799.72 |
| 66 | 2067 | $12,000.00 | $253,735.98 | $3,890,535.70 |
| 67 | 2068 | $12,000.00 | $272,337.50 | $4,174,873.19 |
| 68 | 2069 | $12,000.00 | $292,241.12 | $4,479,114.32 |
Retirement Planning Essentials
Retirement planning is crucial for financial security in your golden years. Our calculator helps you determine how much to save monthly and projects your retirement income based on your current savings, contributions, and expected returns.
Key Retirement Planning Factors
Start Early: Time is your greatest ally in retirement planning. Starting to save in your 20s or 30s allows compound interest to work its magic over decades.
Consistent Contributions: Regular monthly contributions to retirement accounts like 401(k)s and IRAs build substantial wealth over time through dollar-cost averaging.
Employer Matching: Always contribute enough to your 401(k) to receive the full employer match - it's free money that significantly boosts your retirement savings.
Investment Returns: Historical stock market returns average 7-10% annually. A diversified portfolio typically provides better long-term growth than conservative investments.
Retirement Income Sources
Personal Savings: 401(k)s, IRAs, and other retirement accounts form the foundation of most retirement plans. These tax-advantaged accounts help your money grow faster.
Social Security: Provides a base level of income but typically replaces only 40% of pre-retirement income. The full retirement age is 67 for those born after 1960.
Pensions: Traditional defined benefit plans are less common but still provide guaranteed income for some workers, particularly in government and union jobs.
Part-time Work: Many retirees work part-time for additional income and to stay active. This can significantly extend your retirement savings.
The 4% Withdrawal Rule
The 4% rule suggests withdrawing 4% of your retirement savings annually to make your money last 30+ years. This rule helps determine how much you need to save to maintain your desired lifestyle in retirement.
Inflation and Retirement Planning
Inflation erodes purchasing power over time. What costs $1,000 today will cost about $1,800 in 20 years with 3% inflation. Plan for higher expenses in retirement and consider inflation-protected investments like TIPS.