Retirement Savings Calculator
Project how much your retirement savings will grow from your current balance, monthly contributions, expected return, and time horizon. Free and accurate.
Calculator by Toolsloft ↗- Future value
- $462,400.27
- Total contributed
- $170,000.00
- Growth
- $292,400.27
This calculator projects how much your retirement savings will grow from a current balance, a monthly contribution, an expected return, and a number of years. Use it to model a savings plan over a set horizon and see the split between what you put in and what compounding adds. It returns the future value, total contributed, and total 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.
How to use
- Enter your current savings balance.
- Enter your monthly contribution, expected annual return, and number of years.
- Read the projected future value, total contributed, and investment growth.
Examples
- $50,000 + $500/mo at 7% / 20 yr:
future value $462,400.27 - Growth share:
$292,400.27 of the balance comes from returns
FAQ
- How is the future value calculated?
- Your starting balance compounds monthly while each monthly contribution earns returns from the month it is added, using a monthly rate of annual ÷ 12 ÷ 100.
- What is total contributed?
- Your starting savings plus every monthly contribution over the full term, the money you put in, before any growth.
- What does growth represent?
- The future value minus everything you contributed, the investment returns earned on your savings over time.