Retirement Savings Calculator
The Question Every Saver Eventually Asks: Am I Going to Have Enough?
Retirement savings projections are sensitive to a handful of inputs — how much you've already saved, how much you add each month, the return you earn, and how many years you have left to let it grow. Small changes in any one of these compound into large differences over decades. This calculator runs the numbers so you can see where a given savings plan actually lands, and optionally adjusts the result for inflation so the projection reflects real purchasing power rather than a number that looks large only because of rising prices.
The Formula
P is your current savings, PMT is your monthly contribution, r is the annual return rate divided by 12, and n is years remaining multiplied by 12. If an inflation rate is supplied, the projected balance is also divided by (1 + inflation rate)years to express the result in today's purchasing power.
Where This Calculation Matters
- Setting a savings target — running several contribution amounts side by side shows exactly how much a $100/month increase changes the outcome decades out.
- Choosing a time horizon — delaying retirement by even a few years lets compounding work longer, often adding more to the balance than a higher contribution rate would.
- Accounting for inflation — a headline balance that looks comfortable today may buy noticeably less in 30 years; the inflation adjustment surfaces that gap.
- Course-correcting mid-career — plugging in an actual current balance shows whether the existing trajectory needs adjusting well before retirement arrives.
The Effect of Time on a $500/Month Habit
| Years saving | Total contributed | Projected balance |
|---|---|---|
| 10 | $60,000 | $86,542.40 |
| 20 | $120,000 | $260,463.33 |
| 30 | $180,000 | $609,985.50 |
| 40 | $240,000 | $1,312,406.70 |
At 40 years, growth accounts for roughly 82% of the final balance — contributions make up the rest.
How to Use This Calculator
- Enter your current retirement savings balance.
- Enter your planned monthly contribution.
- Enter the annual return rate you expect your investments to earn.
- Enter the number of years until retirement.
- Optionally enter an inflation rate to see the projected balance in today's purchasing power.
- Select Calculate to view the projected balance, total contributed, and total investment growth.
Related Calculations
Turn a target balance into a required contribution with the Retirement Planner, or estimate the income that balance will generate using the Retirement Income Calculator.