Retirement Calculator
Enter your age, savings and contributions to see your projected retirement pot against the pot you need.
What this tool does
A common rule of thumb says you can withdraw about 4% of your pot each year, so the pot you need is 25 times your yearly income. For 4,000 a month that is 1.2 million. Enter your age, savings, contributions and a return after inflation to see what you are on track for and how much more to save each month.
Grows your savings and monthly contributions to retirement age at a real return.
Compares the result with the pot needed for your income at a chosen withdrawal rate.
How to use it
- Enter your current age and retirement age.
- Enter your savings so far and your monthly contribution.
- Enter a return after inflation, the income you want and the withdrawal rate.
- Read your projected pot, the target, the gap and the extra saving.
Why use this calculator
Projects your retirement pot from savings and contributions, compares it with what you would need for your desired income using a withdrawal rate, and shows the shortfall and the extra monthly saving to close it. Retirement is far away and the numbers are large, so people either ignore it or panic. A simple projection against a clear target shows whether you are broadly on track and what one change - like saving more - would do.
Why we built it
We built the retirement calculator to compare a projected pot with the pot needed for your target income, in today's money, and to show the extra monthly saving to close any gap. Model the saving with the investment calculator and track your position with the net worth calculator.
Related tools worth a look: the 50/30/20 Budget Calculator.
Related tools worth a look: the Annuity Calculator.
Who this tool is for
- People checking whether they are saving enough
- Couples planning a retirement age
- Anyone curious about the 4% rule
When to use it
- Checking whether your savings rate is enough.
- Deciding how much more to save.
- Seeing the effect of retiring earlier or later.
- Starting a retirement conversation.
How it works
Your savings grow monthly at the real return divided by 12, with contributions added each month until retirement. The pot needed is the yearly income divided by the withdrawal rate. The shortfall divided by the future-value factor of one monthly contribution is the extra amount to save each month.
Example at a 0% return, from age 30 to 60: saving 1,000 a month for 360 months builds 360,000. Wanting 3,000 a month at a 4% withdrawal rate needs 900,000, a 540,000 gap, so about 1,500 more a month.
This is a general-purpose calculation using the figures you enter, with constant assumptions. It is not financial, tax or investment advice, and real results will differ.
A worked example
These are the values the calculator opens with, so you can see exactly what it does with them. Change any value on the page and the result updates; the figures below come from the same calculation.
| Input | Value |
|---|---|
| Currency symbol | $ (dollar) |
| Your age now | 35 |
| Retirement age | 65 |
| Savings so far | 50000 |
| Monthly contribution | 800 |
| Return per year after inflation | 5 |
| Monthly income wanted in retirement | 4000 |
| Safe withdrawal rate | 4 |
With those inputs, the calculator returns:
- Projected savings at retirement: $889,194.12
- Savings needed for the income you want: $1,200,000.00
- Shortfall: $310,805.88
- Income this pot could support a month: $2,963.98
- Extra monthly saving to close the gap: $373.45
- Years to retirement: 30
What you give it, and what you get back
| Item | Details |
|---|---|
| Ages | Current and retirement age. |
| Savings and contribution | What you have and what you add each month. |
| Return and withdrawal rate | Return after inflation, and the share of the pot withdrawn each year. |
| Output | Projected pot, needed pot, shortfall or surplus, income supported, extra saving. |
Issues you may run into
| What you see | Why it happens | What to do |
|---|---|---|
| Result looks too optimistic | A high return assumption. | Try a lower real return. |
| Pensions and state benefits are ignored | They are not modelled. | Reduce the income you ask the pot to fund by your expected pension. |
| Retirement age must be after current age | Ages are in the wrong order. | Correct the ages. |
Assumptions and limitations
- Constant real return and contributions.
- No tax, fees, pensions or state benefits.
- The 4% rule is a guideline, not a guarantee.
Frequently asked questions
How much do I need to retire?
A common guide is 25 times your yearly income, based on the 4% withdrawal rule. Your needs and other income may differ.
What is the 4% rule?
The idea that you can withdraw 4% of your pot in the first year and adjust for inflation afterwards with a good chance of the money lasting about 30 years.
Why use a return after inflation?
So everything is in today's money and you do not need to forecast prices.
Does it include a pension?
No. Lower the target income by your expected pension.
Is this financial advice?
No. It is a simple illustration.
Is my information sent anywhere?
No. The calculation runs in your browser and your figures never leave the page.
Sources and accuracy
Projected savings use compound growth with regular contributions, and benefit estimates follow the rules administered by the Social Security Administration. Annual retirement contribution limits are set by the Internal Revenue Service.
Figures last checked against the source on . Standards and rates can change — if you are relying on this for something that matters, confirm against the source above. Think a figure is wrong or out of date? Send a correction.