Retirement Calculator
Project how much your savings will be worth at retirement from your current age, retirement age, starting balance, monthly contributions, and expected return. Free and accurate.
Calculator by Toolsloft ↗- Value at retirement
- $1,130,650.34
- Total contributed
- $230,000.00
- Growth
- $900,650.34
This calculator projects what your savings will be worth at retirement from your current age, target retirement age, starting balance, monthly contribution, and expected return. Use it to see whether your current saving pace gets you where you want to be and how much of the final balance comes from growth versus contributions. It breaks the result into total contributed and total investment growth.
How this is calculated
It uses the future value formula, starting balance times (1+i)^n plus the monthly contribution times ((1+i)^n minus 1) divided by i, where i is the monthly rate (annual divided by 12 divided by 100) and n is the number of months between your current and retirement age.
How to use
- Enter your current age and the age you plan to retire.
- Enter your current savings, monthly contribution, and expected annual return.
- Read the projected value at retirement, total contributed, and investment growth.
Examples
- Age 30→65, $20,000 + $500/mo at 7%:
value at retirement $1,130,650.34 - Growth share:
$900,650.34 of the balance comes from returns
FAQ
- How is the value at retirement calculated?
- Your starting balance compounds monthly while each monthly contribution earns returns from the month it is added, over the years between your current age and retirement age, using a monthly rate of annual ÷ 12 ÷ 100.
- How are years to retirement determined?
- It is simply your retirement age minus your current age, both entered as whole numbers, which sets the number of months of growth.
- What does growth represent?
- The value at retirement minus everything you contributed, the investment returns earned on your savings over time.