Project retirement savings in nominal terms and in today’s purchasing power, with an optional income target comparison. Enter your own values below. The calculator shows the formula it uses, a graph and a step-by-step explanation of the result.
Also searched as: retirement, pension planning, retirement savings
How the calculation works
Formula
Monthly Rate = (1 + Annual Return)^(1/12) − 1; Projected Fund = Current Savings × (1 + Monthly Rate)^n + Monthly Contributions × Annuity Factor
Monthly contributions occur at each month end. Annual return is converted to an effective monthly rate. Retirement income target uses level end-of-month withdrawals with no inflation adjustment during retirement. Returns and inflation are assumptions, not forecasts; this is educational, not personalized investment advice.
What you enter
- Current age
- Planned retirement age
- Current retirement savings
- Monthly retirement contribution
- Expected annual investment return (%)
- Expected annual inflation rate (%)
- Desired retirement income per month in today’s money
- Optional expected retirement duration (years) (optional)
- Display currency (formatting only — no exchange-rate conversion)
What the results show
- Projected retirement savings (nominal)
- Projected savings in today’s purchasing power
- Years until retirement
- Future value of current savings
- Future value of monthly contributions
- Desired monthly income at retirement (nominal)
- Estimated monthly income supported
- Estimated target fund
- Projected savings minus target fund
Results are estimates based only on the values and assumptions you enter. Open the detailed analysis to see the graph, the step-by-step story and the stated assumptions, and use the report menu to print, save as PDF, export a schedule to CSV or share the inputs.
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When to use this calculator
Will my savings be enough for retirement? People planning long-term savings can use it to get a quick estimate from their own figures.
Worked example
Starting with 20,000 and adding 300 a month for 25 years at 6% a year, the projected fund is about 288,724.10 before inflation.
Illustrative figures in any currency. Enter your own values in the calculator above.
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