Retirement Savings Calculator
Project what your retirement savings could grow to from what you have now, what you add each month and an assumed return.
Starting with $50,000 and adding $500 a month for 25 years at an assumed 6% annual return, compounded monthly, projects to about $569,745 at retirement. You would have put in $200,000 of that, and the other $369,745 is growth. The return is an assumption, not a guarantee, so test a lower rate, such as 4%, too.
This calculator is for general education only. It projects a balance from the numbers you enter, assumes a steady return that real investments do not earn, and leaves out fees, taxes, inflation and market losses. The result is not guaranteed. It is not financial advice, investment advice or tax advice, and it is not a recommendation to buy, sell or hold anything. Consult a qualified financial professional about your own situation.
Projected balance in 25 years
$569,745.47
- Total you put in
- $200,000
- Growth
- $369,745
- From your current savings
- $223,248
- From monthly contributions
- $346,497
In future dollars, before fees, taxes and inflation. Returns are assumed, not guaranteed.
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About the Retirement Savings Calculator
Retirement savings grow from two sources: the balance you already have, which compounds on its own, and the money you keep adding. The calculator works out both with the standard future value formulas. Your current savings grow as P x (1 + i)^n, and each monthly deposit is added at the end of the month as an ordinary annuity, PMT x ((1 + i)^n - 1) / i, where i is the annual return divided by 12 and n is the number of months. In the default example, $50,000 on its own grows to $223,248 over 25 years at 6%, and $500 a month adds $346,497, for $569,745 in all. Time does much of the work: the same plan run for 30 years instead of 25 reaches about $803,386. The result is in future dollars, not today's, and it leaves out fees, taxes and inflation, so test a lower return before relying on it.
Frequently asked questions
What return should I assume for retirement savings?+
No one knows future returns. Many people test a range, such as 4%, 6% and 8%, to see how much the projection depends on it. A plan that still works at the low end is sturdier.
Does this include my employer's 401(k) match?+
Only if you add it to your monthly contribution. This page does not work out a match from your pay and plan formula; the 401(k) planner does.
Why is the projected balance so much more than I put in?+
Compound growth: returns earn returns. In the default example you put in $200,000 and growth adds $369,745, most of it in the later years, which is why starting earlier matters.
Is the result in today's dollars?+
No, it is in future dollars. Prices rise over 25 years, so the same balance will buy less then. For a rough figure in today's money, enter your return minus expected inflation (6% minus 3% inflation gives 3%).
Are taxes included?+
No. Withdrawals from many retirement accounts, such as a traditional 401(k) or IRA, are taxed as income, and this page does not model that. A tax professional can estimate your own amount.
Future value of a lump sum and of an ordinary annuity (level deposits at the end of each period): OpenStax, Principles of Finance 2e, 8.2 Annuities. Monthly compounding divides the annual return by 12 and counts the months.
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