See how your retirement savings could grow by the time you retire, what that balance is worth in today's dollars, and the monthly income it could support.
Leave the employer match at 0 if you don't have one. 7% a year is a commonly used long-run average for a diversified stock portfolio before inflation. Social Security and pensions are not included.
This tool projects your retirement savings month by month. Each month your balance grows at your expected return, then your contribution and any employer match are added. That combines two sources of growth: the compounding of the balance you already have saved, and the compounding of every future contribution from the month it is made until you retire. The annual return you enter is treated as a true annual return, so a 7% return grows a balance by exactly 7% over a year.
Three optional settings make the projection more realistic. The contribution increase raises your contributions and match by a percentage each year, for example to follow salary raises. The inflation rate converts your final balance into today's dollars, which shows what it could actually buy. And the withdrawal rate turns the balance into an estimate of yearly and monthly retirement income. The underlying growth math is the same as in our Compound Interest Calculator and Investment Calculator.
Take someone who is 30 today and plans to retire at 65, which is 35 years or 420 months. They have $15,000 saved, contribute $500 a month, and receive a $150 monthly employer match, at an assumed 7% average annual return. Over those 35 years they contribute $210,000 and their employer adds $63,000, for $273,000 in total deposits. With compounding, that grows to a projected balance of about $1,272,600 at retirement. Roughly $984,600 of that comes purely from investment growth, not from money put in directly.
A million-dollar balance sounds like a lot, but it will be reached in the future, when prices are higher. With 2.5% inflation over 35 years, the $1,272,600 has the purchasing power of about $536,200 in today's dollars. Using the common 4% withdrawal guideline, that balance could support roughly $50,900 in the first year, or about $4,240 a month in future dollars. In today's purchasing power, that is about $21,400 a year, or about $1,790 a month.
The 4% figure is a rule of thumb, not a guarantee. It suggests that withdrawing about 4% of your balance in the first year, then adjusting for inflation, has historically been sustainable for a retirement of around 30 years. A lower rate is more cautious, and a higher rate makes the money run out sooner. You can change the rate in the calculator and see the effect.
Time is the biggest lever. With the same savings and contributions, the projected balance at 65 depends heavily on when you begin:
Starting five years later, from 30 to 35, costs about $398,000 of the final balance, even though it removes only five years of contributions. The early years matter so much because they have the longest to compound.
Working a few years longer helps twice: you add contributions, and the balance has more time to grow. For the same example starting at 30:
An employer match is part of your pay, so it is worth capturing. In the example, the $150 monthly match contributes $63,000 in deposits but adds about $256,700 to the final balance, because those dollars compound for decades. Without the match, the projected balance would be about $1,015,900 instead of $1,272,600. If your employer offers a match, contributing enough to receive all of it is usually the best first step.
Raising your contribution when you get a raise can be almost painless, because you never feel the money you did not have before.
For the same example, the balance at 65 is about $803,200 at a 5% return, $1,008,100 at 6%, $1,272,600 at 7%, and $1,614,400 at 8%. Because no one knows future returns, plan with a range, and choose a contribution level that works even if returns are on the low side.
A widely used rule of thumb is to aim for about 15% of your income, including any employer match, going toward retirement each year, starting as early as possible. On a $60,000 salary, 15% is $750 a month. Another common target is to build a portfolio of about 25 times your expected yearly spending, which is the reverse of the 4% withdrawal rule. If you expect to spend $40,000 a year, that points to about $1,000,000 in today's dollars. There is no single right answer, since it depends on your retirement age, your expenses, and other income such as Social Security.
To find the money to save, try the budget calculator, and read about how saving 20% of your paycheck connects to your retirement numbers. If you are working out your take-home pay first, the Salary and Take-Home Pay Calculator can help. Not sure exactly how many years you have until your target age? The age calculator shows your age to the day and lets you pick a future date.
How accurate is this retirement calculator?
It's a planning estimate, not a guarantee. It assumes a constant annual return every year, but real markets go up and down. Some years will beat your assumption, others will lose money. Over decades the average tends to smooth out, but your actual balance at any given date will differ from a straight-line projection.
What rate of return should I use?
A common assumption for a diversified U.S. stock portfolio held over 20-40 years is around 7% per year before inflation. If your 401(k) is more conservative (a mix of stocks and bonds), a lower number like 4-5% may be more realistic. Try the calculator with a couple of different rates to see a range of outcomes.
Is this the same as an official 401(k) calculator from my plan provider?
It uses the same underlying compound-growth math, but your actual 401(k) provider's tool may also factor in plan-specific fees, vesting schedules for the employer match, contribution limits, and your specific fund choices. Use this calculator for a quick, provider-independent estimate.
Does this account for inflation?
Yes, as a separate view. The main result is in future dollars, and the "balance in today's dollars" row divides it by the cumulative inflation you enter. If you use a return that is already adjusted for inflation, set inflation to 0 so it isn't counted twice.
What if my employer match has a cap or a vesting schedule?
Enter your actual expected monthly match amount, not your full salary percentage, if it's capped. If your match vests gradually (you only keep it after working there a certain number of years), the projection will be optimistic for the portion that hasn't vested yet, so adjust the match field down if you expect to leave before it's fully vested.
How much should I actually be saving for retirement?
A widely used rule of thumb is to aim for 15% of your income (including any employer match) going toward retirement each year, starting as early as possible. There's no single right answer. It depends on your target retirement age, expected expenses, and other income like Social Security.
Does this include Social Security or pension income?
No. This calculator only projects your personal retirement account balance (like a 401(k), IRA, or similar). Social Security and any pension would be separate, additional income on top of whatever this account grows to.
Can I use this if I'm self-employed or don't have a 401(k)?
Yes. The math works the same way for an IRA, SEP-IRA, Solo 401(k), or even a regular taxable brokerage account. Just set the employer match field to 0 if there isn't one.